UPI (Unified Payments Interface)
Definition
India's real-time inter-bank payment system that enables instant mobile payments using virtual payment addresses. Processes 10+ billion transactions monthly. Supported in HelloBooks via Razorpay.
Related Terms in Banking & Payments
Plaid
A financial technology company that connects applications to bank accounts. HelloBooks uses Plaid to provide live bank feeds from 11,000+ US financial institutions for automatic transaction import and categorization.
Stripe Connect
Stripe's platform for marketplace and SaaS payments. HelloBooks uses Stripe Connect to enable invoice payment links — customers click "Pay Now" and pay via credit card, with funds going directly to the business's Stripe account.
Razorpay
India's leading payment gateway for online payments. HelloBooks integrates with Razorpay via OAuth to enable UPI, card, net banking, and wallet payments on invoices for Indian businesses.
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