Since the advent of UPI payments in India, many people, irrespective of age and financial status, have always preferred this payment method over others like cash or card. This is mostly because of the ease and convenience of UPI payments.
And to make successful UPI transactions, you would need a strong UPI PIN. It helps safeguard your transactions and your hard-earned money.
In this blog, we will discuss what a UPI PIN is and how to create and reset one. Whether you use UPI payments regularly or looking for some clarity before creating your account, this blog will give you all the right answers to your questions!
Keep reading to learn more!
What Makes UPI India’s Favourite Payment Method?
UPI (Unified Payments Interface) quickly became India’s preferred payment system, revolutionizing how individuals conduct digital transactions. There are many reasons why UPI has grown to significance in India.
To begin with, its simplicity and ease of use make it accessible to everyone, regardless of technological expertise. Users can initiate transactions with just a few taps on their smartphones.
Second, UPI provides unparalleled convenience. It enables customers to join several bank accounts, removing the need to switch between payment apps. Furthermore, UPI allows for instant fund transfers 24 hours a day, seven days a week, making it suitable for time-sensitive transactions.
Another important component in UPI’s success is security. Each transaction requires a unique UPI PIN or biometric authentication, guaranteeing that only authorized users can initiate payments.
Lastly, UPI has built a solid ecosystem by combining different services, such as bill payments, merchant payments, and peer-to-peer transfers.
Because of this, UPI has become the preferred method for a wide range of transactions, from minor everyday expenses to large-scale purchases.
Understanding the Importance of a UPI PIN
The UPI PIN serves as a confidential password that authenticates each transaction, guaranteeing that only the authorized user can make payments. It presents an extra layer of security to other authentication techniques, such as biometrics or device locks.
No one can access or misuse your UPI-linked bank account without a valid UPI PIN. You can shield yourself from any fraud or unauthorized transactions by safeguarding your UPI PIN and not disclosing it to anyone, making it an essential element in the world of digital payments.
And since individuals have the liberty to choose and set their own UPI PIN, it’s easier for them to remember it and work with it.
Creating a UPI PIN: Step-by-Step Process
Your UPI PIN must be entered each time you add a new payment account or complete a transaction.
The first time you join a bank account, a UPI PIN creation prompt will appear. You can alter it whenever you want.
Here’s how you can create one:
Step 1: Download and open any UPI app of your choice.
Step 2: Enter the registered mobile number for your bank account.
Step 3: To verify the mobile number, the app will send you an SMS. Then the app will automatically verify your mobile number.
Step 4: You must now create a four or six-digit UPI PIN for your UPI transactions. Make it a unique PIN that you can remember but that others will not be able to guess.
Step 5: Then add your debit card information, including the card number, expiration date, and CVV.
Step 6: Upon entering all the necessary information, you might get an OTP on your registered mobile. Whenever prompted, enter the OTP.
Step 7: Set and confirm your preferred UPI PIN.
With the UPI PIN successfully set, you will be able to send money, request funds, and make payments using UPI-enabled apps or scanning QR codes.
Changing or Resetting a UPI PIN
To change or reset your UPI PIN, follow these steps:
Step 1: On your smartphone, launch the UPI app.
Step 2: In the top right corner, tap the ‘Settings’ icon or the ‘Bank/Bank Account’ section in your profile.
Step 3: Select the ‘change PIN’ option below the bank account for which you want to change the UPI PIN.
Step 4: The next step is to enter the last six digits of your card number and its expiration date.
Step 5: Enter your current UPI PIN first, followed by your new UPI PIN. Make sure you use a unique and strong PIN that is difficult to guess.
Step 6: Enter the new UPI PIN again and click ‘Confirm.’
Step 7: Your UPI PIN has been updated!
You can then test your new UPI PIN by initiating a transaction or accessing UPI services within the app to ensure it is working correctly.
How to Make Safe & Secure UPI Payments?
NPCI has launched a campaign to promote secure UPI usage and raise awareness about UPI Safety Shield.
Here are five important steps to protect your money and personal information from fraud and unauthorized access:
1. Verify the UPI ID:
Before making a payment, always authenticate the recipient’s UPI ID to guarantee that it is sent to the correct person.
2. Keep your UPI PIN private:
Never reveal your UPI PIN or OTP to anyone. Only enter your UPI PIN on the UPI PIN page.
3. Understand QR code usage:
Scanning a QR code is used for making payments, not to receive money. When receiving funds, be careful if someone asks you to input your UPI PIN or scan a QR code.
4. Verify transaction SMS:
After each transaction, validate the amount deducted or credited through SMS from your bank. If you identify any irregularities, notify your bank immediately.
5. Use the UPI app help section:
If you have any transaction-related questions, go to the UPI app’s support section. Trained NPCI staff are accessible 24 /7 to assist you with any inquiries or issues related to UPI transactions.
Choose NTT DATA Payment Services for hassle-free and quick transactions!
NTT DATA Payment Services is dedicated to providing secure and seamless digital payment solutions. From online payment gateways to POS machines, we prioritize the safety and convenience of our customers in the diverse industries and banking sectors we serve worldwide.
With an extensive selection of over 100 payment options, our merchants can accept payments effortlessly online, offline, and through contactless modes, regardless of time and location.
We provide a safe, convenient, and secure platform that enables your business to integrate UPI payments seamlessly, empowering you to make well-informed decisions and enhance your payment processes.
Understanding the concept of UPI PIN is critical for anyone in India who uses UPI-based digital payment solutions. UPI PIN serves as a secure key that ensures transaction validity and safety.
Creating a UPI PIN is a simple process that requires a registered mobile number and a linked bank account. Users may simply generate and reset their UPI PIN by following the step-by-step instructions provided in this blog, enabling them to make hassle-free and secure digital payments.