Soon, you will be no longer needed to carry cash or a debit card or share your ATM pin and bank details to make payments. Yesterday, the Reserve Bank of India and National Payment Corporation of India launched Universal Payment Interface (UPI), a system that allows one to pay or receive payments in real time via a virtual address. So, whether you are dining at a restaurant, shopping at a mall or opting for a taxi ride, you can download a UPI app of any bank and make payments instantly. You will also be able pay for cash on delivery purchases made online using a UPI app. The UPI is built on IMPS (Instant Mobile Payment system), but it’s different from the IMPS as it allows one to use any banking app (which supports UPI) to make as well as pull payments. Money can be transferred and received at any time using a UPI app. Users also get the choice to create a personalised UPI address.