Can You Transfer Money Between Two Different Bank's UPI App

Can you Transfer or Pay Money Using UPI App of One Bank to Another Bank's UPI App, Like Transferring money from Phonepe to BHIM or any Other App

India's Wallets and Online purchase interface is now gradually changing into UPI ( Unified payment Interface). In UPI App you only need to register once using your android,iphone or windows phone with mobile number registered at the bank. When you register your account you will get a unique address for the payment, like 9xxxxxxxxx@upi . @upi will change according to the UPI app you are using. With these unique address when you are transferring money to another account you only have to enter the other persons VPA(Virtual payment Address).
So there are a lots of UPI apps are available in Android and apple store to download for free. All banks created UPI apps for their customers. But they are not limited to only their bank account holders. That is even you are using UPI app of Axis bank you can link any other bank account to that App.
So The Next Question is whether you can transfer/pay money from UPI app of one bank to another banks UPI App? Yes
For example you installed UPI app developed by Yes bank (Phonepe) and your friend installed UPI app from Indian Government (BHIM). You want to transfer money from your account to your friends account through UPI. To transfer money to your friends account you only need your friends unique VPA. In this case the VPA will be mobile_number@upi . If you registered your UPI app recently it will give an error message that the VPA is not valid. It will take some time to update your VPA in the system.

Benefits of UPI

• No waiting for OTP (OTP is replaced with MPIN)
• Don't want to remember your card details
• Instant payment
• Instant Refund
• No need of Bank account number and IFSC code, the beneficiary mobile number or the VPA is enough for the transfer