What is UPI?
Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties’ bank accounts.
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
ADVANTAGES:-
- Immediate money transfer through mobile device round the clock 24*7 and 365 days.
- Single mobile application for accessing different bank accounts.
- Single Click 2 Factor Authentication — Aligned with the Regulatory guidelines, yet provides for a very strong feature of seamless single click payment.
- Virtual address of the customer for Pull & Push provides for incremental security with the customer not required to enter the details such as Card no, Account number; IFSC etc.
- Bill Sharing with friends.
- Best answer to Cash on Delivery hassle, running to an ATM or rendering exact amount.
- Merchant Payment with Single Application or In-App Payments.
- Utility Bill Payments, Over the Counter Payments, Barcode (Scan and Pay) based payments.
- Donations, Collections, Disbursements Scalable.
- Raising Complaint from Mobile App directly.
How UPI PAYMENT gateway works?
A payment is a software application that payment service providers use to process payments for online purchases originating on a merchants website.It acts as an interface between the merchant’s website and payment processing Bank known as an acquirer .Generally a gateway can be used for may types of payment method .gateway encrypts sensitive credit card details to ensure that information is passed securely between the customer,the merchant and the acquiring bank. When a customer purchase a product or service on a website that is connected to payment gateway,the gateway performs a variety of tasks to process the transactions.once the customer places their order on the merchant website, they choose to checkout or pay and are then redirect to payment page to enter their credit card details .If the merchant is fully compliant with the necessary security standards. The payment page can be generated on the merchant’s servers and the cart information collected and passed on to the payment application in a secure way. the payment page can also be generated by the payment gateway application itself and information can be collected there. either way ,the card and transaction details of gathered and stored on the secure is of the payment gateway from there the payment gateway process of the transactions and sends all information to the issuing Bank approval via the acquirer and the relevant card scheme. Once the payment has been confirmed by the card scheme, the payment gateways ends the approved transactions back to the merchant’s website and then the merchant informs the customer that the purchase has been successfully completed of course the payment gateway performs a lot of task as well but when it comes to credit card payment these are the main steps to processing a transaction . Payment gateways add a whole load of value throughout this process. here are some of the key features of payment gateway is the most common way for a merchant to connect to the payment system. only the largest merchants are able to connect an acquiring bank directly.Gateway transactions fees are very small compared to the advantages they offer in helping a merchant connect to an acquirer,mange there business and control the risk associated with accepting online payment .A good payment gateways will provide them merchant with many customisable reporting option, which help the Merchant to manage their business. A good payment gateway will be connected and able to process many different payment methods that may not be offered by the merchant.
What is Distributed system?
A distributed system is any network structure that consists of autonomous computers that are connected using a distribution middleware. Distributed systems facilitate sharing different resources and capabilities, to provide users with a single and integrated coherent network.
The opposite of a distributed system is a centralized system. If all of the components of a computing system reside in one machine, as was the case with early mainframes such as Von Neumann machines, it is not a distributed system.
The key features of a distributed system are:
- Components in the system are concurrent.
- There can be multiple components, but they will generally be autonomous in nature.
- A global clock is not required in a distributed system.
- Compared to other network models, there is greater fault tolerance in a distributed model.
- Price/performance ratio is much better.
The key goals of a distributed system include:
- Transparency: Achieving the image of a single system image without concealing the details of the location, access, migration, concurrency, failure, relocation, persistence and resources to the users
· Openness: Making the network easier to configure and modify
· Reliability: Compared to a single system, a distributed system should be highly capable of being secure, consistent and have a high capability of masking errors.
· Performance: Compared to other models, distributed models are expected to give a much-wanted boost to performance.
· Scalability: Distributed systems should be scalable with respect to geography, administration or size.
· Examples of Distributed Systems
· In a sense, any system that has autonomous computers working together is a distributed system. The Internet, company intranets and telecom networks are all examples of distributed systems.
· Then there’s also the definition of a component as a machine. The machine has to have two things — first, it has to have local memory, and secondly, it has to connect to the network. With these two things in abundant supply in modern networks, it’s easy to set up distributed systems to do sophisticated work. One of the big questions, though, is how to facilitate the network build, for example, whether to use more traditional topologies, or move toward container or VM virtualization, or utilize cloud systems to abstract topologies to the vendor.
