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Consider the following statements:
Statement-I:
Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.
Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.
Statement-II:
UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.
UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.
Which one of the following is correct in respect of the above statements?
- a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)Statement-I is correct, but Statement-II is incorrect
- d)Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:Statement-I:Unified Payments Interf...
Understanding UPI and its Features
Unified Payments Interface (UPI) is a revolutionary payment system in India that facilitates seamless bank transactions. Let's analyze the statements to understand their correctness.
Statement-I: UPI Peer-to-Peer Transfers
- UPI allows users to transfer money between bank accounts instantly.
- It operates through a two-factor authentication, involving the user's UPI PIN and the authentication of the transaction.
- This statement is correct as it accurately describes the peer-to-peer transfer functionality of UPI.
Statement-II: UPI Tap and Pay
- UPI Tap and Pay utilizes Near Field Communication (NFC) technology for payments.
- It enables users to make payments at merchant locations by tapping their phones on NFC-enabled devices or scanning QR codes.
- Importantly, when using Tap and Pay, entering a PIN is not required for small transactions, making it convenient and quick.
- This statement is also correct, as it describes the functionality of UPI Tap and Pay accurately.
Relationship Between Statements
- Both statements are correct.
- Statement-II does not directly explain Statement-I but rather elaborates on a specific feature of UPI, which enhances the overall functionality.
Conclusion
- The correct answer is option 'A': Both Statement-I and Statement-II are correct and Statement-II explains Statement-I.
- UPI represents a significant advancement in digital payments, catering to various transaction methods, thus benefiting users comprehensively.
Unified Payments Interface (UPI) is a revolutionary payment system in India that facilitates seamless bank transactions. Let's analyze the statements to understand their correctness.
Statement-I: UPI Peer-to-Peer Transfers
- UPI allows users to transfer money between bank accounts instantly.
- It operates through a two-factor authentication, involving the user's UPI PIN and the authentication of the transaction.
- This statement is correct as it accurately describes the peer-to-peer transfer functionality of UPI.
Statement-II: UPI Tap and Pay
- UPI Tap and Pay utilizes Near Field Communication (NFC) technology for payments.
- It enables users to make payments at merchant locations by tapping their phones on NFC-enabled devices or scanning QR codes.
- Importantly, when using Tap and Pay, entering a PIN is not required for small transactions, making it convenient and quick.
- This statement is also correct, as it describes the functionality of UPI Tap and Pay accurately.
Relationship Between Statements
- Both statements are correct.
- Statement-II does not directly explain Statement-I but rather elaborates on a specific feature of UPI, which enhances the overall functionality.
Conclusion
- The correct answer is option 'A': Both Statement-I and Statement-II are correct and Statement-II explains Statement-I.
- UPI represents a significant advancement in digital payments, catering to various transaction methods, thus benefiting users comprehensively.
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Community Answer
Consider the following statements:Statement-I:Unified Payments Interf...
Statement-I correctly describes a key feature of the Unified Payments Interface (UPI), emphasizing its two-click factor authentication process for inter-bank transfers. Statement-II also accurately highlights another feature of UPI, which is UPI Tap and Pay, enabling payments through NFC-enabled QR codes without the need for entering a PIN. Furthermore, Statement-II complements Statement-I by elaborating on an additional functionality of UPI, thereby explaining and expanding on the information provided in Statement-I. Hence, both statements are correct, and Statement-II offers a further explanation of the functionalities of UPI mentioned in Statement-I.
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Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?
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Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?.
Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:Statement-I:Unified Payments Interface (UPI) enables peer-to-peer inter-bank transfers through a single two-click factor authentication process.Statement-II:UPI Tap and Pay facilitates payments through NFC-enabled QR codes at merchants with a single tap, eliminating the need to enter a PIN.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.
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