UPI
Abbreviation with 2 meanings
| Stands for | Unified Payments Interface |
|---|---|
| Meanings | 2 |
| Categories | Business & Finance, Organizations & Companies |
UPI has two meanings. It stands for Unified Payments Interface (banking) or United Press International (media and broadcasting).
Meanings of UPI at a glance
| # | UPI stands for | Context |
|---|---|---|
| 1 | Unified Payments Interface | Business & Finance › Banking |
| 2 | United Press International | Organizations & Companies › Media and Broadcasting |
1. Unified Payments Interface
Business & Finance · Banking Abbreviations
India's real-time mobile payment system, run by the National Payments Corporation of India (NPCI), that lets users send money instantly between bank accounts using a virtual payment address, phone number or QR code. It powers apps such as PhonePe, Google Pay and Paytm.
Example: Just scan the shop's QR code and pay the ₹250 by UPI.
Launched in 2016, UPI processes well over 10 billion transactions a month, making it the world's largest real-time payment system by volume. Most person-to-person and person-to-merchant payments carry no fee for users. UPI has been linked with payment systems in Singapore, the UAE and other countries.
2. United Press International
Organizations & Companies · Media and Broadcasting Abbreviations
American international news agency, once one of the two great US wire services alongside the AP, that declined after the 1980s and now operates on a much smaller scale.
Example: An old UPI wire photo of the 1969 moon landing hangs in the newsroom.
Formed in 1958 by the merger of E. W. Scripps's United Press (founded 1907) and William Randolph Hearst's International News Service. White House correspondent Helen Thomas worked for UPI for 57 years. The agency was sold several times after losing money in the 1980s.
Related abbreviations
More banking abbreviations
- A/C – Account
- ABA – American Bankers Association (routing number)
- ACH – Automated Clearing House
- ALLL – Allowance for loan and lease losses
- ALM – Asset-liability management
- AML – Anti-money laundering
- ATM – Automated teller machine
- BACS – Bankers' Automated Clearing Services
See all 80 banking abbreviations →