How to use UPI to share money with friends
“Any sufficiently advanced technology is indistinguishable from magic”- Arthur C. Clarke
Hi everyone, I am sure you all must have experienced various waves of technologies at different points in time. Technologies that would have astounded you and made you say ‘wow!’.
Well, we at Mypoolin are riding exactly on top of one such wave. A phenomenon that has been pretty popular recently in the news and goes by the name of UPI (Unified Payments Interface). However, most people have not been able to experience the revolution and the magic moment that comes along. That is what we endeavor to help on as an innovative consumer technology company.
Firstly the basics, what UPI enables for you —
- Instant bank transfers using IMPS from any bank account to bank account (as long as that bank is UPI enabled)
- Without the need of an account number and IFSC code of the sender / recipient
- Just using a virtual address (think of it like a new and unique email address for payments. Looks something like this: rohittaneja@yesbank)
Now, let us show you the steps to go about it on Mypoolin in just 5 seconds!
- Sign up on the app and this is where you will land after creating your virtual address.
2. Click on ‘Send Money’, search and select the friend whom you would like to make the transfer to. Enter the amount and any cool message you like!
3. Click on ‘Send’ (if you want to make a payment) and on the next page enter your bank mPIN (For receiving this, you can ping your bank if you already have a mPIN. Or if you are setting it for the first time, then within the same step, the page will give you an option to set your own mPIN).
That’s it! After that, the money gets transferred instantly from your registered bank account (with your virtual address) to your friend’s bank account (with his virtual address). In case you don’t know the virtual address of your friend, do not worry! As we will notify him and let you know as soon as he comes on board.
This the revolution, ladies and gentlemen. Come and experience it right inside our Android app in a fun and social manner! (It will be enabled on iOS in 2–3 months)
P.S. Just in case you get stuck in a loop at this screen below while creating your Virtual Address, simply enable all SMS read and write permissions for ‘Mypoolin’ app by going into the settings of your phone (tabs/options may vary as per your device)
Besides, you can also track what your friends are up to (if they want to reveal it :) — Check it out
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