Unified Payment Interface, or UPI in short, is one of the biggest digital payment systems in India. As its name suggests, UPI unites or merges all banking services into one system, making it possible to send money from anywhere, to anywhere, within the country. So it’s no wonder that it has become the most popular platform for digital payments among Indians.20th May 2021 |
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Various apps have adapted the UPI payment system, including third-party apps like PhonePe and Google Pay, and mobile banking apps of different banks. Because millions of Indians are already using UPI to make payments, many online casinos have also started accepting UPI for Indian customers.
There’s no doubt that it’s a safe, convenient, and fast way to deposit funds to your casino account. But in case you’re wondering how it works and what’s the benefit of using UPI in online casinos, we’ll tell you all about UPI payment systems and what’s so great about UPI casinos.
UPI was launched in 2016 by the National Payments Corporations of India (NPCI). If you didn’t know this yet, NPCI is a financial organization that looks after payment systems, and it is owned by the Reserve Bank of India. This means that UPI is basically a government-backed payment system, and that adds a lot of weight to its credibility.
UPI’s concept is quite simple – it brings the payment gateways of all banks and Payment Service Providers (PSPs) under its umbrella so that everyone can make payments everywhere from a single, common interface.
As a user, you start by linking your bank account(s) to the UPI app and set a UPI ID and PIN for your account, which will be used to make payments through the system. The interesting thing here is that if you use two or three different UPI apps, each will provide you a unique, separate UPI ID. But the PIN for your bank remains the same across all apps, and that’s quite a neat feature, so you don’t have to worry about a different password for each app.
One of the most notable features of UPI apps is that they are incredibly easy to use, and you can transfer money to other accounts with just a few clicks. UPI essentially turns your phone into a combination of bank and wallet. So when you’re using this method to make payments at online casinos, you can enjoy quick and easy payments every time.
How To Use UPI At An Online Casino?
Now let’s talk about how you can make online casino payments with UPI. First of all, you must have two things – an account in a casino that accepts UPI and also an active UPI account linked with your bank account.
Creating an account in a UPI casino is not a difficult task. With a bit of research, you can easily find plenty of casinos that accept UPI. But we would recommend that you check out some of the top UPI casinos like LeoVegas, Casumo, Pure Casino, and Genesis Casino. As for creating your UPI account, we will explain the steps for that in one of the next sections.
So, for now, considering that you have an account in a UPI casino and your UPI account is active too, here are the steps to make online casino payments with UPI:
- Log in to your casino account and go to the Deposits section.
- Among the list of deposit methods, choose UPI.
- Now you’ll need to enter the UPI ID (sometimes also termed as VPA). You can find the ID in your UPI app. In case you’re using multiple apps, you can pick anyone and enter its ID.
- Next, enter the amount you wish to deposit and confirm.
- You’ll get a prompt on your UPI app requesting the payment for the amount you entered.
- Confirm the payment from your app by entering the UPI PIN. In just a few seconds, the payment will be processed. It may take a little time for the funds to reflect in your casino account, but it should be a matter of a few minutes at most
So just like that, you can make casino payments with UPI in less than a minute! And that’s not the only good thing about this payment system, let’s see what other benefits they offer.
What Are The Benefits Of UPI?
UPI completely changed India’s digital payment scenario and brought together businesses, banks, and the public all under one platform. Sending and receiving money had never before been this easier. Here are the major benefits of the UPI payment system:
- Fast Transactions
- UPI transactions are processed instantly – as soon as the money leaves your account, it also enters the receiver’s account. Thanks to UPI, it’s possible to make payments and transfer money to any account in a flash!
- As a government-backed payment system, UPI is protected by encryptions and 2-factor authentications. Every bit of your banking and personal detail, as well as your money, is safe under the umbrella of UPI. Even UPI apps add an extra layer of security – most of them require a separate pin/password just to open the app, and your money will never leave your account without your UPI PIN, which remains the same across all apps for the same bank account.
- Add Multiple Banks
- If you have multiple bank accounts, you can link all of them to your UPI app and switch between them easily while making payments. You will feel so much free and liberated knowing that you can transfer money to and from any of your bank accounts with just your phone! UPI gives you complete control over your bank accounts and finances.
- Flexible Options
- There are many ways to make payments in UPI. You can transfer funds directly to another bank account or to another person’s mobile number or UPI ID. Shops and merchants are also accepting UPI these days. And there are many apps that you can choose from in the first place. UPI brings you many ways and options to make payments.
How Can I Set Up My UPI Account?
The process of setting up your UPI account will vary a bit depending on the UPI app you are using, but we’ll give you the basic steps.
Creating An Account On UPI App
- Download and install any UPI app of your choice.
- Open the app and follow the on-screen instructions to create an account on the app.
- The instructions may be different for each app, but it generally requires you to enter your phone number, verify it with an OTP, provide your email, and a few other details.
So that will hardly take a minute, and your UPI account will be ready. But we can’t make payments yet, as we need to link our bank account first.
Linking Your Bank Account(s) to UPI
The process of linking your bank account is very similar to all UPI apps, and here’s what you need to do.
- Find the option in your app that says ‘Add/Link Bank Account’ or something similar.
- It will give you a list of banks in India that support UPI, so click on the bank where you have a savings account.
- Now the UPI system will automatically detect your account with the bank based on your phone number that’s linked with your account.
- If this is your first time linking the bank account to UPI, you’ll be asked to set a 4 digit pin. If you’ve already linked the bank account to UPI with another app before, you’ll be asked to enter the same PIN that you had set earlier.
That’s really all it takes to link your bank account. Most of the tedious work is done by the UPI system, so there’s no need to enter all your bank details.
Advantages Of Using UPI At An Online Casino
There are many other payment options at online casinos, so you may think what’s so great about UPI. Well, here are the benefits of using UPI online casinos.
- Safe and Reliable
- When you’re dealing with money, safety is the number one priority, especially in an unregulated industry like online gambling. When you’re using UPI payments, there’s a huge relief knowing that your personal and banking details and your money is safe in the hands of one of India’s most secure and trusted payment systems.
- Convenient Payments
- UPI lets you make payments instantly from your bank account with your phone. So no matter where you are, it only takes a few minutes to add funds to your casino account with UPI. You’ll never be in shortage of casino balance when playing your favorite games.
- Pay from Multiple Bank Accounts
- You can link more than one bank account to your UPI app and easily switch between them when making payments. This makes it easier to deposit funds in online casinos. If one of your accounts is short of funds, just choose your other bank account. UPI gives you the freedom to make casino payments with any of your bank accounts.
- No Charges
- When you’re making payments through UPI, there’s no hidden fees and transaction charges. The payment system is totally free, so you won’t be losing extra money when making casino payments. It’s a fast and secure option that doesn’t cost you anything!