Find out more about the UPI PIN and how to set or change one.

UPI, or the Unified Payments Interface, is a real-time payment system that enables instantaneous transfers of funds between bank accounts. When compared to IMPS and NEFT, UPI is a viable alternate payment option. Obtaining a UPI ID and UPI PIN is necessary for making a safe UPI money transfer. While setting up a UPI account, users will select a unique identifier (UPI ID) that will serve as their "virtual payment address." As opposed to this, a UPI PIN is a password that the user chooses in order to approve a payment from a specific bank account.

Let's dig into what a UPI PIN is and how it works.

In what ways is the UPI PIN useful?

The Unified Payments Interface Personal Identification Number, or UPI PIN, is a 4- or 6-digit number that users select for themselves during the UPI registration process on a UPI application or at a later time. Sharing a UPI PIN increases the risk of fraud because it increases the number of people who have access to the user's transaction confirmations.

UPI PIN Configuration Instructions

Installing the Paytm mobile payment app on your phone is the first step in configuring your UPI PIN. Once you've downloaded and installed the software, you'll be able to start setting up your UPI profile and PIN as follows:

• To use the Paytm UPI payment system, launch the app on your mobile device.

• In the upper left corner of the Paytm app, you'll see an icon labeled "Profile."

• Once the drop-down menu appears, select "Payment Settings" from the menu's left sidebar.

• Then, access the list of your linked bank accounts by selecting the 'UPI & Linked Bank Accounts' tab.

• When a bank account's UPI PIN has not yet been set, a "Set PIN" button will appear in the account's details section.

• Select the "Set PIN" option.

• The final 6 digits of your card number and the expiration date must now be entered.

• An OTP will then be sent to the mobile number you provided.

• On the following screen, enter the OTP and a UPI PIN.

• To activate your UPI PIN, fill out the form and hit "Submit."

You'll get a confirmation of your UPI PIN setup once it's been set up successfully.

UPI PIN Modification Instructions

Here's what you need to do to modify your UPI PIN:

• Launch the Paytm UPI-compatible mobile payment app.

• To use the application's UPI/Send Money to Anyone features, tap the corresponding menu item.

• Using the Paytm mobile app, open the 'Bank' section by tapping the 'Settings' icon in the upper right.

• To modify the UPI PIN for a specific bank account, click the "Change PIN" button there.

• Next, you'll be asked for the last 6 digits of your credit card and the date it expires.

• At this time, you'll be asked to enter both your old and new UPI PINs.

• To confirm the new UPI PIN, enter it again.

• Please note that your UPI PIN has been updated.

Keep in mind that your UPI PIN is a password protecting your bank account funds. As a result, the UPI PIN needs to be guarded carefully. Create a memorable UPI PIN that you won't forget.

How Critical is a UPI PIN?

Users are required to provide a Personal Identification Number (PIN) when conducting transactions through the UPI. You'll need it for the following reasons when making UPI-based purchases:

• In the United Payments Interface, each bank account has its own personal identification number (UPI PIN), which is chosen by the account holder. Consequently, only the account holder has access to it, guaranteeing the security of the

• Users can select their own personal UPI PIN, making it much simpler to keep track of.

Differences Between a UPI PIN and a MPIN

Users are responsible for remembering not only a UPI PIN but also a MPIN. Differences between them are as follows: