UPI 2.0 live now – know the features

UPI 2.0

NPCI has launched an upgraded version of the Unified Payments Interface (UPI), UPI 2.0.

RBI governor Urjit Patel, State Bank of India (SBI) chairman Rajnish Kumar and Nandan Nilekani, the non-executive chairman of Infosys who is also the innovation advisor at NPCI, formally launched the product.

New features in UPI 2.0

1. Linking of overdraft account

You can now link your over-draft account to UPI which was not available until now. This will help to get the digital channel to access over draft account.

2. One-time mandate

This feature lets you pre-authorize (Mandate) a transaction, for debit from your bank account later. UPI mandate is to be used in scenarios where money is to be transferred later, however the commitment towards that is to be done now.

It is possible that the sender may forget to send money later so creates a mandate or for a service/merchant payment wherein this functionality may be required.

The customer’s account shall get debited when the mandate is executed. UPI mandate can be executed one time only.

3. Invoice in the inbox

Earlier, when a collect request was sent you could only verify the amount being paid and make the payment post entering the UPI PIN.

Now prior to making the payment you will be able to check the invoice being paid via a link and thereby verify the details of the transaction before you pay for the same. This functionality is only available for the invoices of verified merchants.

4. Signed intent and QR

With this option, while making payment using the intent or through scanning QR, the user will get additional security in the form of signed QR / intent.

With the signed QR , issues related to tampering QR as well as having non-verified entities shall be reduced.

List of Banks using UPI 2.0 already

Currently, UPI 2.0 member banks as on date are State Bank of India (SBI), HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.


A freelance Technical Writer, worked as a Software and Web Developer, a Product Support Specialist in World Wide Web, experienced in Digital Marketing and a Technical Journalist in computer publishing industry.