On this page, we will run through what UPI (netbanking) is, how it works, and how to use it for online gambling sites in India.
Picking an online payments provider to use at real money online casinos and betting sites in India can be a challenge given the vast array of options, but UPI is up there with the best of them.
UPI - which stands for Unified Payment Interface - is considered to be very safe and secure to use for online payments due to the fact that it is owned by NPCI, which is the National Payments Corporation of India.
Those who are unfamiliar with using UPI for online payments may be unsure about selecting this option the next time they sign up for an online gambling account, though.
For all the information you need, check out our complete guide to using UPI from India.
Even though UPI was only set up a few years ago, it is already established as one of the top online payment methods to use for gambling sites in India.
Round the clock availability is one of the main plus points of using UPI, which also offers single-click authentication for its customers.
Being run by the National Payments Corporation of India gives UPI an authenticity that not many other online payment providers that are available in the country are able to match.
Learning how to use UPI on a betting site in India should not take too long at all, which is good news for those who are considering signing up for a new online casino in the country.
Well over 100 banks are signing up to use UPI in India, so the first step is to make sure that your own bank is on the list. As long as it is, you will be able to use UPI at online sites.
Registering for UPI can be done through a mobile phone, with your bank name also able to be used as an identifier for your accounts at online casinos and betting sites in India.
After signing up for UPI, the service can be used to make deposits into online gambling sites.
Depositing with UPI is easy once Indians have an account, as long as your chosen online casino or betting site has it listed among its available options.
Check this is the case first, then simply head to the cashier and select it from the list, before deciding how much money you want to deposit into the account.
Enter in your unique UPI identifier in order to connect it up to the account you plan to use for online gambling in India, then you should be ready to go.
Depositing with UPI should be pretty fast but it might not always be done instantly.
Unfortunately, the speed at which withdrawals with UPI are processed is not the best.
This is due to the fact that online operators are likely to require extra checks to be carried out in order to ensure safety and security rules are being followed properly.
As a result, it can take about three business days for withdrawals with UPI to be processed, which might be frustrating for those Indians who are waiting to get their hands on their winnings.
Some online casinos and betting sites will also charge a fee for withdrawing money with UPI.
Using UPI on a betting site in India has lots of great advantages, including the following:
However, it is important to note that there are some cons of using UPI on a betting site in India:
The safety and security of UPI make it one of the top options for an online payments provider, but users must decide for themselves if the pros are strong enough to make up for the cons.
As UPI is owned by NPCI - the National Payments Corporation of India - it is right up there with the safest and secure payment methods that are available.
Anyone joining Indian betting sites or online casinos can feel assured that UPI is very safe.
Every online casino and betting site in India has different rules and regulations over which online payments providers can be used to qualify for their range of promotions and offers.
Those who plan to use UPI to make their first deposit are advised to check the terms and conditions to make sure, but they should qualify for bonuses in most cases.
UPI, like all of the other top payment options for online casinos and betting sites in India, is subject to minimum and maximum limits in place for deposits and withdrawals.
Each online operator has different restrictions here, so it is best to check them out in their terms and conditions in order to make sure they are acceptable for your own specific needs.
Some 150 or so banks in India are signed up to UPI, so most people will have access to it.
The best way to sign up for UPI is through the payment service's official website by using your mobile phone number.
After this has been done, users will be able to use UPI for online payments at a range of sites.
Unified Payments Interface (UPI) is an instant real-time payment method that can be used to transfer funds between two bank accounts in India. UPI was developed by the National Payments Corporation of India and is regulated by the Reserve Bank of India.