What is UPI PIN & How to Create and Reset a UPI PIN?

UPI is an instant real-time payment system that allows you to send money instantly from one bank account to another. UPI works as an alternative payment method to IMPS/NEFT. The secure transfer of funds through UPI requires you to create a UPI ID and a UPI PIN. The UPI ID acts as a virtual payment address for the users and is created while setting up a UPI account. UPI PIN, on the other hand, is a password that must be set by the user to authorize the transaction from a particular bank account.

Let’s understand more about what UPI PIN is and how you can set it.

What is UPI PIN?

UPI PIN that stands for Unified Payments Interface Personal Identification Number is a 4 or 6 digit number set by the users themselves either at the time of UPI registration on a UPI application or later. Since a UPI PIN allows the confirmation of a transaction by the user, it must not be shared with anyone in order to avoid the chances of fraud.

How to Set a UPI PIN?

To set your UPI PIN, you must first install a mobile payment application, such as Paytm on your mobile phone. After installing the application, you need to create your own UPI profile/account and follow the following steps to set up your UPI PIN-

  • Open the Paytm UPI payment application on your mobile phone

  • Tap on the ‘Profile’ icon in the top left corner of the Paytm mobile application

  • In the left sidebar that opens, scroll down to the ‘Payment Settings’ option and click on it

  • Next, click on the ‘UPI & Linked Bank Accounts’ option and you will be able to see the list of your linked bank accounts

  • If UPI PIN is not set for a bank account, you will see a ‘Set PIN’ option under the bank account

  • Click on ‘Set PIN’

  • Now, enter the last 6 digits of your card number, along with its expiry date

  • After doing so, you will receive an OTP on your registered mobile number

  • Enter the OTP and the UPI PIN of your choice on the next screen that appears

  • Click on ‘Submit’ and your UPI PIN will be set!

Upon successful setting up of your UPI PIN, you will receive a notification about the confirmation of the same.

How to Change your UPI PIN?

To change your UPI PIN, you need to follow these steps-

  • Open the Paytm mobile payment application which supports the UPI service

  • Click on the ‘UPI/Send Money To Anyone’ section in the application

  • Tap on the ‘Settings’ icon in the top right corner on the Paytm mobile application, and go to the ‘Bank’ section

  • Now, select the ‘Change PIN’ option under the bank account for which you want to change the UPI PIN

  • Next, you will have to provide the last 6 digits of your card number, along with the expiry date

  • Now, you need to enter your current UPI PIN, followed by your new UPI PIN

  • Re-enter the new UPI PIN, and click on ‘Confirm’

  • Your UPI PIN has now been changed!

It is important to note that UPI PIN is a password that holds control over the funds in your bank account. Hence, the UPI PIN must be kept highly confidential. You should also set a UPI PIN that is easy to remember so that you don’t forget it.

What is the Importance of a UPI PIN?

A UPI PIN is a password that must be provided by the user to confirm a transaction. Here’s why it is important in carrying out transactions through UPI-

  • A UPI PIN is unique to every bank account and is set by the owner of the account. Hence it can be used only by the account holder, thereby ensuring the safety

  • The users have an option to choose their own unique UPI PIN, which makes it easier for them to remember

Understanding the Difference between a UPI PIN and MPIN

A UPI PIN and MPIN are two different passwords that users must remember. Here are the differences between them-

UPI PIN

MPIN

Stands for Unified Payments Interface Personal Identification Number

Stands for Mobile Banking Personal Identification Number for access to your mobile application

Required to authorize the transactions made through UPI

Required to authorize any mobile banking transactions

Must be provided to confirm the transaction

Must be provided at the time of logging in to the mobile payments application (applicable only in case of a few applications)

FAQs
What is UPI PIN?
A UPI PIN is a password that must be provided by the user to authorize a transaction made through UPI. It is a unique, 4 or 6 digit passcode that a user can create according to his/her choice.
What is UPI PIN full form?
A UPI PIN is used to confirm a transaction initiated through UPI. It helps in keeping a user’s UPI account safe and secure from any fraud. It is also used to check the balance of a bank account on a UPI app.
Is UPI safe?
UPI payments are absolutely safe as they are regulated by the Reserve Bank of India & NPCI. Paytm UPI payment application follows all the guidelines as laid down by these regulators. Payments can only be initiated from a mobile phone in which your SIM card or mobile number registered in your bank is present. You also need to confirm your secret UPI PIN before every UPI payment.
What should I do to set my UPI PIN?
To set your UPI PIN, you must first download the Paytm UPI payment application which supports the UPI service. After downloading the application, you need to visit the ‘UPI’ or ‘Send Money To Anyone’ section in the application, such as Paytm, go to the bank account, and select the ‘Create UPI PIN’ option. While doing so, you will be asked to provide the last 6 digits of your card number along with its expiry date to set your UPI PIN.
What will happen if I forget my UPI PIN?
If you forget your UPI PIN, you can reset the same by logging in to the application. Visit the ‘UPI PIN’ option and click on ‘Forgot UPI PIN’. After providing a few of your details, you can reset your UPI PIN.
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