Unified Payments Interface (UPI)

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.

How is it unique?

• Immediate money transfer through mobile device round the clock 24*7 and 365 days.
• Single mobile application for accessing different bank accounts.
• Single Click 2 Factor Authentication – Aligned with the Regulatory guidelines, yet provides for a very strong feature of seamless single click payment.
• Virtual address of the customer for Pull & Push provides for incremental security with the customer not required to enter the details such as Card no, Account number; IFSC etc.
• QR Code
• Best answer to Cash on Delivery hassle, running to an ATM or rendering exact amount.
• Merchant Payment with Single Application or In-App Payments.
• Utility Bill Payments, Over the Counter Payments, QR Code (Scan and Pay) based payments.
• Donations, Collections, Disbursements Scalable.
• Raising Complaint from Mobile App directly.

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)