A beneficiary is a person or an entity to whom you want to transfer money. A beneficiary contains details such as the account holder's name, account holder's phone number, account number, account IFSC, and VPA handle. This allows users to make multiple transfers to a beneficiary without entering the beneficiary account details for each transfer.
You can create the following beneficiaries using our APIs.
Currently, we do not allow money transfers directly to a bank account or VPA handle. Money can only be transferred to a beneficiary.