How people handle money, has significantly changed with the rise of digital mode of payments. One of the most remarkable developments can be seen as the Unified Payments Interface (UPI). Being cashless now cannot be a chance to skip paying, because UPI payment has made transactions simpler, quicker, and more convenient. And why only personal transactions, it also plays an important role in charitable donations and fundraising events. Further, explore how UPI is being used for these purposes.
What is UPI?
Unified Payments Interface, popularly called UPI. It was developed by the National Payments Corporation of India (NPCI) and is currently a real-time payment system. Whether it be your grocery shopping, paying bills, transferring money to bank accounts, or making donations.
This is an instant solution using mobile devices. All you need to do is download an authentic and safe UPI app and link a bank account. And good to go, start making transactions in seconds. Therefore, for ease of use, efficiency, and most importantly, security, people prefer UPI payments.
How UPI Simplifies Charitable Donations?
Collecting donations has always been challenging, especially through traditional methods. One of the biggest hurdles was not having enough cash to donate. Later, one has to wait for a few more days to receive money in cash from donors. Besides, getting people to donate in any way possible was time-consuming and somewhat humiliating.
UPI comes in. It simplifies the process of donating, without wasting even a minute extra. Donors can directly send money from their bank account by making a few clicks on the UPI app. Within a few seconds, people contribute to the cause they are concerned about.
What are the Benefits of Using UPI for Donations?
Be it, donors or charitable organizations, both are getting benefits with UPI transactions:
- No more need to fill out forms and do formalities, just click and pay. UPI Payment is now as simple as sending a text message.
- It instantly transfers the donation amount to the charity’s account, without any delay in fundraising needs.
- All the transaction records are maintained safely in UPI apps. Thus, keeping transparency between the giver and receiver.
- People can now keep their donations private and confidential. So you can proudly give donations within your budget
UPI in Fundraising Events
Fundraising events often need urgent money collections. Whether it’s a small organization or a large-scale fundraising event, UPI is a valuable tool for all. It is the most secure and quick method of money collection. Simply, the organization can share its UPI ID or the QR Code with the participants, making it easier for them to contribute. So, no more hassle in collecting and handling cash.
How does UPI Help in Crowdfunding?
UPI has also reached Crowdfunding platforms, other than donation camps and fundraising events. If you have to collect funds for medical emergencies or community projects, UPI makes it easier. Contributors can transfer money with the use of UPI payment, helping the campaign reach its goal.
Role of UPI in Religious Donations
Whatever religious institution you go to, there is a donation box (donation box). What has changed in the last few years is that a QR code is also seen along with the donation box. Many religious places have started accepting donations through UPI apps. So, even if the devotees do not have physical currency, they can support the religious cause. It’s a convenient way, especially when digital payments are trending.
How to Use UPI for Donations?
Do you also want to use UPI for charitable donations? Here’s how you can do it:
- You will find several UPI apps available. Choose and download the one you trust.
- Next, you need to link your bank account to the downloaded app. It is a simple process.
- Once you have activated your UPI, first get a proper know-how of its workings.
- Further, to donate find the UPI ID or a QR code from the Charity’s official website or social media pages.
- Enter the desired donation amount, enter the password to confirm the transaction, and you’re done!
Security and Trust
Most people are concerned about the security of their transactions while making donations. Therefore, UPI addresses this through secure, and encrypted transactions. So that, you can be confident to support a good cause. Additionally, UPI is regulated by the NPCI, so there is a level of trust that comes with it.
Conclusion
From personal transactions to donations and fundraising, UPI is revolutionizing payment methods. With its simplicity, it is quick and secure, making it an ideal choice to support a good cause. Bajaj Finserv, for example, offers a secure and consistent UPI payment service, offering an easier-than-ever way to donate. It ensures that money reaches the concerned place, hassle-free and securely.
