UPI Casino List – Online Casinos With UPI

Both IMPS and UPI are run and owned by the National Payments Corporation of India (NPCI), a state-run regulatory body that deals with online payments in the Indian market. The NPCI was founded in 2008, just as the world started getting used to digital money transfers. It’s officially a non-profit organization and is officially run by the Indian Banks Association and the Reserve Bank of India.

In 2009, the NPCI received a Certificate of Commencement of Business from the government, which gave them the green light to move forward. Year after year, they added more banks to the fold, just so every project they launched could get the same amount of coverage. Expansive coverage is the most important thing in a country with over 1 billion people, after all.

Year 2010 saw the launch of IMPS. This platform was designed to facilitate transfers between banks. With it, users could send money to other individuals without too big of a hassle. The sender only needs to know the bank account number of the recipient, as well as their Indian Financial System Code (IFSC). Today, more than 200 million transactions are made with IMPS each month, amounting to a total of $20 billion.

As for UPI, it was launched in 2016. Even though it has many similarities to IMPS, UPI aims more at app use and mobile transfers. That’s why many online casinos in India offer these methods side by side. While they both have the same stellar reputation, they can be used for slightly different purposes. And it’s precisely UPI that became the crown jewel of India’s fintech scene. Both the media and organizations from all over the world admired the rollout of UPI, along with its spectacular rollout and great features.

UPI has become the most popular payment service people in India and South Asia use to make online transactions. In May 2022, the service processed more than 5.9 billion transactions. To understand the power of the UPI platform, we’ll compare it with the volume of transactions it handled five years ago.

During the same period five years ago, UPI processed 21 million transactions. The latest initiative from the Reserve Bank of India is to add credit cards to the UPI platform. Shaktikanta Das, Governor of RBI, says that this proposal will bring additional convenience to people, enhancing the number of payment services.

Still don’t understand the difference between IMPS and UPI? Don’t worry – we got you! By analyzing both platforms and using them at casino sites in India, we concluded that these differences are key:

• IMPS requires you to know the casino’s banking details. For UPI transfers, you only need their UPI Virtual Payment Address (VPA).
• To make IMPS deposits, you need your bank’s app. UPI lets you connect multiple bank accounts to a single VPA.
• With UPI, you enter much fewer details than with IMPS.
• For UPI, there are no waiting times for transfers. As for IMPS, all deposits are cleared after about 30 minutes.
• You don’t need a bank account to use UPI, while with IMPS, it’s mandatory

UPI Updates

• November 2020: NPCI allows WhatsApp to offer payment services in India using the UPI framework.
• February 2021: Gaana, the leading music, podcasts and short videos platform in India, rolls out UPI AUTOPAY functionality.
• April 2021: NPCI and State Bank of India (SBI) introduce a campaign promoting UPI payments to SBI’s YONO platform.
• June 2021: Satin Creditcare, a banking partner of HSBC India, integrates the UPI AUTOPAY platform to enable customers to pay loans EMIs via UPI.
• August 2021: NPCI announces Tech5 as the winner of the ‘PayAuth Challenge’ for creating an alternative way of authenticating UPI transactions using biometric.
• August 2021: NIPL and Mashreq Bank, one of the leading financial institutions in the UAE, partner to offer a UPI payment system in the UAE.
• September 2021: Liquid Group, a leading cross-border online payment provider, partners with NIPL to enable QR-based transactions across Asia from early 2022.
• October 2021: UPI registers over 4.2 billion transactions in a month, reaching a record-breaking $103 billion in value.
• June 2022: India’s central bank (RBI) announces the integration of credit cards with the UPI platform. RuPay will be the first one linked to UPI.
• August 2022: UPI Payments: FinMin Denies Proposal to Charge Customers.
• April 2023: UPI Transactions Reach All-Time High of 8.7 Billion in March.
• March 2025: The government of India has approved a ₹1,500 crore incentive scheme for promoting small-value BHIM-UPI transactions among small merchants in the 2024-25 financial year. The scheme offers a 0.15% reimbursement per transaction for payments up to ₹2,000, excluding larger merchants. It aims to achieve a total UPI transaction volume target of ₹20,000 crore.

We can’t complain about security, honestly. Both UPI and IMPS use 2-factor authentication (2FA), which effectively prevents anyone from stealing your account and making unauthorized transactions. Many banking methods don’t offer this level of security, so it’s nice to see the NPCI being up to date with data safety standards.

There’s also the fact that you have to provide your real information. Identity checks are, sort of, a security measure on their own. But when you also realize that IMPS and UPI use high-grade SSL encryption, it’s not so hard to understand why both platforms deserve praise for their efforts.