A Virtual Payment Address (VPA) is a unique identifier used in the Unified Payments Interface (UPI) system in India. It is a unique address created by a users bank and acts as an account-specific code. VPA is similar to an email ID, and it is used to make and request payments through a UPI-enabled app. It is also known as a UPI ID. Some of the benefits of using VPA include:
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Privacy: The receiver will not know your bank account details as they can only view your virtual payment address.
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Convenience: You need not fill in your bank account details repeatedly for making multiple payments.
To create a VPA, users need to link their bank account to a UPI-enabled app and follow the apps instructions to create a VPA. Once created, users can use their VPA to make and receive payments through UPI-enabled apps.
