What are NEFT,IMPS and UPI Online Transaction?

Today we use online transaction for sending or receiving money but you know that how its work? And how many types are they have? So come on guys today we talk about it.

We use four types of online transaction

1. NEFT
2. RTGS
3. IMPS
4. UPI

Online transaction

Online transaction means that to buy or shell anything to anyone over internet. It is a part of Electronic commerce in which sellers and buyers will buy or shell product and news over the internet. For making online transaction you need to access on a website or need a mobile app through which you can connect with your buyer and seller. On this platform to process transactions it will be secured by private payment gateways which safe and privacy for our credit card details. By the process of online transaction selling or buying anything from internet will be easy and faster. From this seller aur buyer have a opportunity to buy or sell something anytime and anywhere.

It will provide a good opportunity to businessmans to grow their business online and make their own market to sell there products online and they get more customers. In that way online transaction will make our life easily and faster. Through the online transaction service we can change the way to buy or sell anything from online. We did not need to go anywhere to buy or see something we just need a mobile phone or a app of E-commerce website and search your product what we want. By using online direction we will made our life so easy and fast.

NEFT

It is also known as national electronics fund transfer. It is a online money transfer tool which we can use for sending or receiving money. It will be invented by RBI in 2005. From this tool we can help each other by sending or receiving money. This transaction will do in batch wise format. By using this weekend money to any NEFT enable account. Before using NEFT transaction you will be sure that whom you are sending money that will provide you correct Account number, IFSC code, Bank branch and Account holder name.

You can only use NEFT transaction in limited time of working hours. You can't use NEFT transaction on holidays. On a normal day you can use it from 8:00 a.m. to 7:00 p.m. and on saturday you can only use it from 8:00 a.m. to 1:00 there is no maximum or minimum limit amount of NEFT transaction.

RTGS

It is also known as real time growth settlement RTGS is a platform from which you can transfer money immediately by using this system. This system is also invented in 2005. If you want to send anyone more than amount of 2 lakh immediately you need to use the RTGS system for your successful transaction.

RTGS also follow the transaction time of NEFT. It is also not available on holidays. Aur normal days from no M2 4:30 p.m. you can use it and on saturday you can use it from 9:00 a.m. to 2:00 p.m. it does not have maximum limit of transaction but its minimum limit is 200000 rupees transaction. In this system you can pay charges for the transaction if you are paying between 2 lakh to 5 lakh amount you can pay 30 rupees for transaction and above 5 lakh rupees you can pay 55 rupees transaction.

IMPS

It is also known as immediate payment transfer. IMPS services will use for transfer money immediately. Buy RTGS and NEFT transaction you will wait for successful transaction but in IMPS the transaction will successful immediately after the payment maked. It is invented by National payment corporation of India in 2010. Bhai help of this tool we can use real time money transfer.

It is a best way for transferring money because the good point of this service is it is available for 24 hours you can send payment to anyone anytime. IMPS have minimum transaction limit of 1 rupees and maximum transaction limit of 200000 per transaction. If you are sending less than or equal to 10000 rupees you need to pay 2.5 rupees fees per transaction and if you are sending 10000 to 2 lakh unit to pay 15 rupees fees per transaction.

UPI

Upi started in 2016 it is also invented by national corporation of India when 500 and 1000 ruppes notes are banned. In that time of banning notes people face bigger problems with cash to pay there bills and many more payments that's why government give focus on cashless economy for the people don't face the problem of cash to pay their bills and other payments that's why prime minister Narendra Modi launches upi in our country. It will much more help for the people to pay their bill easier and faster than the cash or other payment methods. This is the first step to go cashless for India.

It will also works like IMPS transaction we will pay recharge,Bill payment and DTH recharge using upi and we will transfer money immediately to anyone bank account. It is very safe and easy way to make payments or transactions.

Some UPI Apps
1. BHIM UPI App
2. Google Pay
3. Phone Pay
4. Paytm

Institute of this you can install and upi in any Bank you get multiple up apps on play store.

Upi transaction is free now but if it will be charged in future then it charge 50 paisa for 100000 transaction. It has limit of 10 transactions daily and total one lack rupees including all 10 transaction. Means that you can pay 1 lakh in one transaction or in ten transactions.

Conclusion

Friends friends the transaction should be tell you above details ola safe and private because they all are regulated by RBI transaction. If you like my blog and the post then you will share it to the people to reach out this kind of information to all peoples and if you have any question to ask me then ask me in the below comment section.