UPI Registration

UPI or Unified Payments Interface is an instant payment platform which is strictly regulated by the Reserve Bank of India (RBI). It allows the users to transfer money directly from their bank account to the recipient’s bank account. Apps like BHIM, Google Pay and Amazon Pay, etc. use this platform to enable cashless as well as card-less bank to bank money transfer.

Follow the steps explained below to register with UPI:

Step 1- Install either the UPI-BHIM app or your bank’s enabled UPI app from Google Play Store or Apple App Store.

Select your preferred language. Verify your mobile number. Select your bank account and account.

Step 2 – Create your profile by entering basic details like your name, virtual ID and password. The virtual ID you create will be your payment address.

Step 3- Go to Add/Link/Manage Bank Account option on the app and link your bank and account number with the previously created virtual ID.

You are successfully registered.

Once registered, you need to generate your mPIN (Mobile Personal Identification Number). You will need to enter this mPIN every time you need to make a transaction. Let’s check how to set an mPIN.

Steps to generate mPIN are explained further:

First of all, make sure that the mobile number you’re using is linked to your bank account. Once this is established, you can generate your mPIN using either the online method or the offline method.

Method 1 – Offline

1. Dial *99#.

2. Type 3-4 letters of your bank OR first 4 digits of your BANK IFSC Code and hit “Send”.

3. Select ‘Generate MPIN” from the options displayed on your mobile screen.

4. Enter the last 4 or 6 digits of your debit card number and the expiry date (MMYY) with a single space. E.g. 123456 1219.

5. Now, generate your mPIN. It can be 4-digit or 6-digit mPIN depending on your bank. Enter it twice separated by a single space and hit the “Send” button. E.g.1234 1234.

You will receive a notification on successful registration of your mPIN. Your transaction reference number will also be given. Note this and keep it safe for any future reference.

Method 2 – Online

1. Once you have downloaded the mobile app, you will be asked to create your mPIN for UPI Payments. When you click on it, a One Time Password (OTP) will be sent to your registered mobile number.
2. Enter the last six digits of your debit card and the expiry date of your debit card.
3. You have to create a unique mPIN for your UPI. This can be a 6-digit number or a 4-digit number as per your bank.
4. Click Submit and your mPIN will be generated.

On successful generation, a pop-up message notification will display on your screen.

Sending and receiving money via UPI is extremely easy. Follow the steps explained below for easy UPI money transfers:

Steps to send money via UPI

1. Log in to your bank’s UPI-enabled mobile application. It can be BHIM UPI, Paytm and Amazon Pay, etc.
2. Go to UPI section (E.g. UPI Money Transfers, Send Money, etc.)
3. Click on Make Payment/Send/Pay.
4. Enter the payee’s Virtual Payment Address (VPA) or scan UPI QR code.
5. Enter the amount to be transferred.
6. Enter your mPIN to authenticate your payment.
7. Once you hit the Send button, the money will be sent in seconds.

Steps to receive money via UPI

1. Login to your UPI-enabled mobile app.
2. Select the option- Collect/Request Money (in Paytm, it is Money Transfer “To Self Account”).
3. Enter the payer/remitter’s VPA and the amount to be credited.
4. When you submit the request, a notification will be sent to the payer.
5. He will enter his mPIN to authenticate the transaction if he accepts the request.
6. When the transaction is complete, both the payer and payee will get notification of debit and credit.

Some of the best UPI apps to send or receive money digitally are:

• BHIM App

Bharat Interface for Money or BHIM is a UPI-enabled mobile application which is regulated by the Government of India and thus carries the utmost level of security.

Know more here

• Google Pay Tez

Google Tez is a UPI-enable mobile payments service provided by Google Inc. and is built by NPCI (National Payments Corporation of India). It is partnered with most of the major banks in India and is thus accessible to most of the users.

Know more here

• SBI Pay

The State Bank of India has come up with its own UPI-based payment platform which customers can use for safe and quick fund transfers. This App used BHIM-UPI interface. It is also known as BHIM SBI Pay.

Know more here

• Amazon UPI

Amazon Pay is a BHIM UPI enabled payment system which is an extension of Amazon India. Along with providing a virtual supermarket experience Amazon now also enables its users to make payments using Amazon Pay platform via UPI. Registered users of Amazon can set up Amazon Pay directly on the Amazon mobile app and also earn rewards up to Rs. 350.

• PhonePe

PhonePe is a BHIP UPI enabled mobile app which is used for cashless/card-less transactions.

UPI is, by far, the easiest and one of the safest modes of transferring money online. Unlike other money transfer methods, UPI is available round the clock, seven days a week. Some other reasons why you must register on UPI are given below-

No Need to Add Payee – In case of UPI, you just need to enter the payee’s Virtual Payment Address (VPA) or scan the UPI QR code and the amount will be sent immediately. This feature makes UPI ideal for emergency money transfers. For NEFT and IMPS transfers, you first need to add a beneficiary with your bank account which takes some time. Only after the beneficiary is successfully added can you transfer the money.

No Extra Charges – UPI entails zero transaction charges, as opposed to NEFT and IMPS that charge a minimal amount as a transaction charge.

For NEFT, it is at least Rs 2.5 per transaction while IMPS fund transfer costs a minimum of Rs 5. On the other hand, UPI Transfer is completely free of charges.

Higher Limit – UPI offers its users a higher transaction amount as compared to mobile wallets. In the case of e-wallets, the maximum transaction amount is usually restricted to Rs 20,000. However, in the case of UPI, you can transact up to Rs 1 Lakh per transaction.

Safe and Secure – Making payments through UPI is the safest as you do not have to share your personal details like account number, etc. All you need to share is your VPA which does not disclose any of your personal information.

What is the full form of UPI?

The full form of UPI is Unified Payments Interface.

Who can use UPI?

Anyone with a working bank account and a smartphone can use UPI.

What is UPI Pin?

UPI Pin is a unique 4-6 digit code which is generated by you and is to be entered every time you make a payment or receive one. Just like when using internet banking you enter your IPIN, likewise, when using UPI-enabled app, you enter mPIN.

Which is the best UPI App?

Some of the best UPI-enabled mobile apps include BHIM app, Google Pay Tez, PhonePe and Paytm.

Is it safe to make payments via UPI?

UPI is a safe platform to send or receive money directly from/to your bank account. This system is regulated by the government and thus is quite safe.

However, to safeguard at your end, it is advised to never share your mPIN or UPI ID with anyone. And keep on changing it frequently.

It is also advised not to make any online transactions using public networks (wifi networks offered by restaurants and cafes, etc.). Always use safe networks, i.e. your home wifi connection or your mobile network.

Are UPI and Google Pay same?

No. UPI is a system whereas Google Pay is an app. UPI in itself is not an app but it is a system which is used in all UPI-enabled apps. Similarly, Google Play is a mobile app which offers UPI-enabled payment option.

I have forgotten my mPIN. Can I reset my mPIN?

Yes. Like any other password, mPIN can also be reset. TO do so, open your UPI-enabled app and click on your profile. Next, go to the Bank Account section and find the option to reset. It should have words like “Reset mPIN” or “Forgot UPI PIN”, etc.

Who is the founder of UPI?

Former RBI Governor, Dr. Raghuram Rajan is the founder of UPI or the Unified Payments Interface. UPI was launched on 11^th April 2016.