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Unified Payments Interface

Unified Payments Interface (UPI)

Unified Payments Interface

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.

With the above context in mind, NPCI conducted a pilot launch with 21 member banks. The pilot launch was on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. Banks have started to upload their UPI enabled Apps on Google Play store from 25th August, 2016 onwards.

How is it unique?

Steps for Registration:

  • User downloads the UPI application from the App Store/Banks website
  • User creates his/her profile by entering details like name, virtual id (payment address), password etc.
  • User goes to “Add/Link/Manage Bank Account” option and links the bank and account number with the virtual id

Generating UPI – PIN:

  • User selects the bank account from which he/she wants to initiate the transaction
  • User clicks one of the option –

Change UPI PIN

  • User receives OTP from the Issuer bank on his/her registered mobile number
  • User now enters last 6 digits of Debit card number and expiry date
  • User enters OTP and enters his preferred numeric UPI PIN( UPI PIN that he would like to set) and clicks on Submit
  • After clicking submit, customer gets notification (successful or decline)
  • User enters his old UPI PIN and preferred new UPI PIN (UPI PIN that he would like to set) and clicks on Submit
  • After clicking submit, customer gets notification (successful or failure)