unified payment interface frequently asked questions

Frequently Asked Questions about United Payment Interface (UPI)

What is UPI

Unified Payments Interface is a new cashless payment method introduced by the National Payment Corporation of India (the entity behind IMPS, RuPay, NACH and more). It is aimed to enable easy and real time money exchange.

How do I register for UPI?

Download UPI App from major banks like SBI, ICICI, UBI, Axis, and more. Sign-up with the mobile number registered with the respective bank account.

How does this work?

UPI lets you create a unique identifier, called the Virtual Private Address (VPA). It enables you to send, receive or pay directly from your bank account.

What is VPA?

“Virtual Payment Address” is a unique identifier that can be mapped to your bank account. The virtual payment address resembles your email ID, for example: rupesh@axisbank or shruti@ybl (ybl/axis being the names of the PSP bank)

How do I Link VPA with existing bank account?

Use the mobile number with your respective Bank account to link the VPA handle.

Do I need to wait for OTP before transactions?

The M-pin acts as the second factor of security. Set 4/6 digits M-Pin by authenticating with Debit card details at the time of VPA creation.

I forgot the M-pin, what should I do next?  

Reset M-pin by authenticating with the debit card details in the respective app.

How can I pay using VPA on a merchant website?

Enter the Virtual Payment Address (VPA) on checkout page and proceed to Pay. You will receive a payment request on UPI App, select transaction and enter the M-Pin.

What should I do if I miss the SMS/In-app notification?

In your UPI app, check for “Pending UPI transactions”. You can approve or reject transaction request from here.

How do I Send funds using VPA?

Select account you want to send money from, enter amount and VPA of the receiver. Click on Send.

How do I Receive funds using VPA?

Select account you want to receive money in, enter amount and VPA of the sender. Click on Receive.

What details should I know to either send money or request money?

You need the VPA of the receiver or the sender. You don’t need any other details to initiate a transaction.

Are there any charges for transactions done using UPI?

Currently for Customers, there are no charges for transactions done through UPI. There may be revisions on charges from time to time. * Issuing bank may levy charges according to their rules.

Is there a limit on the value of transactions when I am sending or requesting money using UPI?

Currently, the per-transaction cap is INR 100,000. This may change from time to time and is subject to the UPI guidelines.

Is there any time limitation initiating and receiving UPI transactions?

UPI services are available 24*7. There are no holiday restrictions on UPI transactions.