What is MPIN? Full Form, Meaning, and How to Generate It

Mobile transactions are becoming increasingly commonplace. Today, you can initiate big and small-value transactions in seconds using your mobile phone. But to ensure all transactions are secure and authorised by you, as the account holder, you must enter an MPIN. But what is MPIN, and why do you need it? Let’s find out these answers together.   

Your MPIN is your four-digit or six-digit passcode (depending on your bank) that you must enter while accessing mobile banking and United Payments Interface (UPI) apps. It is your digital master key that ensures that you are in control when accessing your bank/UPI Accounts and approving payments. 

MPIN is primarily used on mobile banking apps, UPI platforms, and digital wallets for peer-to-peer fund transfers, bill payments, balance checks, and merchant transactions. With your MPIN, you can initiate UPI payments in seconds, either by scanning the payee’s QR codes or entering their phone number. You can also use MPIN for NEFT and IMPS transactions, wherein you can enter the MPIN to securely authorise fund transfers to registered beneficiaries.  

Besides knowing the meaning of MPIN, it is vital to understand why it is important. Your MPIN acts as a secure authentication code that safeguards your digital financial transactions. It prevents unauthorised users from accessing your mobile banking, internet banking, and UPI platforms, ensuring that only you, as the rightful account holder, can initiate payments and fund transfers.  

In a sense, MPIN verifies your identity, by asking you to enter the 4/6 digit code, before processing any request. It helps build trust in India’s mobile banking systems, while reducing the risks of fraud. MPIN also enables convenient, quick, and reliable access to necessary financial services.  

Having explained what MPIN means and why it matters, let’s find out how you can generate your MPIN. You need to set the MPIN on different online banking platforms. Let’s understand the steps for each platform separately:  

Via Banking/UPI App 
i. Launch your Mobile Banking or UPI App on your smartphone.
ii. Log in to the app with your Registered Mobile Number (RMN).
iii. Navigate to Settings/Profile and click on Set/Generate MPIN.
iv. Enter your card number/account details and the One-Time Password (OTP) sent by your bank to your RMN.
v. Create your MPIN and confirm it by entering it again. 

Via Internet Banking 
i. Log in to your bank’s Internet Banking portal.
ii. Navigate to Mobile Banking or UPI services.
iii. Select the option to Generate/Reset MPIN.
iv. Enter the OTP sent by the bank on your RMN to verify your identity.
v. Set the MPIN and enter it again to confirm it. 

Via ATM 
i. Visit your bank’s ATM, insert your Debit Card, and enter your PIN.
ii. Select Mobile Banking/UPI Services.
iii. Choose the option to Generate MPIN.
iv. Enter your bank account details prompted by the machine.
v. Click on Set MPIN, and re-enter the code to confirm your MPIN. 

Via USSD *99# 
i. Dial *99# from your RMN.
ii. Select Generate MPIN from the Interactive Voice Recording (IVR) menu.
iii. Enter the last six digits of your Debit Card and the card’s expiration date.
iv. Your bank sends you an OTP on your RMN, which you must enter to verify your identity.
v. The IVR now prompts you to set and confirm your new MPIN. 

You must change your MPIN from time to time as a security measure. The steps to do so are typically standard across all platforms. Here’s what you need to do:
i. Log in to your Mobile/Internet Banking platform or UPI App with your RMN.
ii. Go to Settings > Security > MPIN and click on Change/Reset MPIN.
iii. Verify your identity by either entering your Debit Card number or the OTP sent to your RMN, depending on your chosen platform for MPIN change.
iv. You will be asked to enter your old MPIN first, and reset it with a new one.
v. Re-enter your new MPIN to lock it in and click on Save Changes.  

You can initiate a quick small-value transaction to check if your PIN has been reset. 

Listed below are some safety tips to follow while setting/using your MPIN:

• Memorise your MPIN; avoid writing it down or storing it openly.
• Do not set the same MPIN as your UPI or ATM PIN.
• Refrain from ever sharing your MPIN with anyone. 
• Avoid using obvious or easy-to-guess numbers like birthdates, anniversary dates, etc.
• Consider changing your MPIN every 3-6 months for added safety.
• Ensure you enter the MPIN only on trusted mobile banking or UPI apps.
• Keep your phone locked and protected with a lock screen. 
• Reset your MPIN immediately if you suspect misuse.
• Stay alert to phishing/vishing calls and fake messages.

With MPIN, you can conduct online transactions within seconds. While it helps to know what MPIN means and the role it plays in simplifying online transactions, it is also vital to understand that your PIN should remain private. Ensure you don’t share it with anyone, write it down, or set an easy-to-guess PIN. It also helps to reset your MPIN from time to time as an added security measure.   

*Disclaimer: 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.