What is UPI & How to Reset UPI Pin?

Until a few years ago, thinking that we could travel and shop without our wallet and Debit/Credit Cards was unimaginable. Unified Payments Interface (UPI) is transforming the way we handle financial transactions. Its popularity has soared due to its convenience and accessibility, making it an integral part of the Indian digital financial ecosystem. Read on to learn more about UPI, what is UPI pin and the detailed steps on how to set and reset your UPI PIN. Also, find out how to initiate UPI payments via HDFC Bank’s PayZapp.

Unified Payments Interface, commonly known as UPI, is a peer-to-peer payment system introduced by the National Payments Corporation of India (NPCI). It was launched in 2016 to simplify digital transactions and reduce reliance on cash payments. UPI operates on the principles of interoperability, security, and accessibility, making it a user-friendly platform for individuals and businesses alike.

The following are the primary features of UPI:

Multiple Banks Single ID

UPI is designed to work seamlessly across different banks and financial institutions, allowing users to link multiple bank accounts to a single UPI ID. This makes it easy to switch between banks while retaining the same UPI ID.

Real-time Transactions

UPI enables instant fund transfers, making it ideal for paying bills, online shopping, splitting expenses, and more. Transactions occur in real-time, ensuring the recipient receives the money instantly.

24/7 Accessibility

UPI services are available 24/7, including on weekends and public holidays. This means you can send money anytime without worrying about bank hours.

Security

UPI transactions are secured through multi-factor authentication, including a UPI PIN. This ensures that your financial data remains safe and confidential.

Wide Acceptance

UPI is widely accepted across various platforms, including e-commerce websites, mobile apps, and brick-and-mortar stores. Most businesses in India now offer UPI as a payment option.

A UPI PIN is a secure 4 to 6-digit personal identification number used to authorise transactions through UPI-enabled digital payment apps.

Here's a step-by-step guide to setting up or changing your UPI PIN:

• Step 1: Select a UPI-enabled mobile app. If you're an HDFC Bank customer, you can use the PayZapp app for UPI transactions. Download and install your chosen app from your device's app store.

• Step 2: Open the UPI app and follow the on-screen instructions to link your bank account. You must enter details like your account number, IFSC code, and Registered Mobile Number (RMN) to complete this process.

• Step 3: You will be prompted to create a unique UPI ID after linking your bank account. This could be your phone number followed by the '@' symbol, or you can customise it according to your preference.

• Step 4: To set your UPI PIN, navigate to the app's settings or the UPI number section. You may need to provide your Debit Card details, including the card number and expiration date. After this, you will be asked to create a 4 or 6-digit UPI PIN. Choose a combination that is easy to remember but hard for others to guess.

• Step 5: Re-enter the new UPI PIN to confirm it. This step ensures that you have entered the PIN correctly and helps avoid errors.

• Step 6: Once you have successfully set your UPI PIN, it will be linked to your UPI ID and bank account(s). You may receive a confirmation message indicating that your UPI PIN is set up and ready to use.

Click here for UPI payment through PayZapp on your IOS phone.

Click here to make an online money transfer through PayZapp on your Android phone.

If you forget and wish to know how to change your UPI PIN, you can follow these below-mentioned steps:

• Step 1: Launch the UPI app on your device and look for the "Forgot UPI PIN" option. This option is typically available on the login or UPI number page.

• Step 2: To reset your UPI PIN, you must authenticate your identity. This could involve receiving an OTP (One-Time Password) on your registered mobile number, answering security questions, or using biometric verification like fingerprint or facial recognition, depending on your app and bank.

• Step 3: Once your identity is verified, you will be prompted to set a new UPI PIN. Follow the instructions to create a secure PIN. Make sure to remember it and avoid writing it down to maintain security.

• Step 4: Re-enter the new UPI PIN to confirm it. This step ensures you have entered the new PIN correctly and reduces the chance of errors.

• Step 5: After successfully resetting your UPI PIN, the new PIN might take a few minutes to be activated. You will receive a confirmation message or notification once the process is complete.

Note that the exact steps and options may differ slightly from one UPI app to another.

Knowing how to set, reset, and retrieve your UPI number is essential for smooth and secure transactions in this modern age of finance. You can also download HDFC Bank’s PayZapp to initiate UPI payments and conduct transactions seamlessly and securely.

With PayZapp, you can link multiple bank accounts, make real-time payments, split bills, and shop online. Its user-friendly interface and robust security measures make it a preferred choice for convenient UPI transactions in India. Know more about PayZapp.

​​​​​​​*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.