UPI: Unified Payments Interface-How it is unique?

What is UPI?

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.

With the above context in mind, NPCI conducted a pilot launch with 21 member banks. The pilot launch was on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. Banks have started to upload their UPI-enabled Apps on the Google Play store from 25th August 2016 onwards.

Why it is unique in India?

1. Immediate money transfer through mobile device round the clock 24*7 and 365 days.
2. Single mobile application for accessing different bank accounts.
3. Single Click 2 Factor Authentication – Aligned with the Regulatory guidelines, yet provides for a very strong feature of seamless single click payment.
4. Virtual address of the customer for Pull & Push provides for incremental security with the customer not required to enter the details such as Card no, Account number; IFSC etc.
5. Bill Sharing with friends.
6. Best answer to Cash on Delivery hassle, running to an ATM or rendering exact amount.
7. Merchant Payment with Single Application or In-App Payments.
8. Utility Bill Payments, Over the Counter Payments, Barcode (Scan and Pay) based payments.
9. Donations, Collections, Disbursements Scalable.
10. Raising Complaint from Mobile App directly.

What are the benefits for the UPI users?

Benefits for banks:

1. Single click Two Factor authentication
2. Universal Application for transaction
3. Leveraging existing infrastructure
4. Safer, Secured and Innovative
5. Payment basis Single/ Unique Identifier
6. Enable seamless merchant transactions

Benefits for end Customers:

1. Round the clock availability
2. Single Application for accessing different bank accounts
3. Use of Virtual ID is more secure, no credential sharing
4. Single click authentication
5. Raise Complaint from Mobile App directly

Benefits for Merchants:

1. Seamless fund collection from customers – single identifiers
2. No risk of storing customer’s virtual address like in Cards
3. Tap customers not having credit/debit cards
4. Suitable for e-Com & m-Com transaction
5. Resolves the COD collection problem
6. Single click 2FA facility to the customer – seamless Pull
7. In-App Payments (IAP)

Which banks are live with UPI?

Here is the list of Banks which are live with UPI-

Sr. No.	Bank Name	Details
1	Axis Bank	PSP & Issuer
2	Bank of Baroda	PSP & Issuer
3	Bank of Maharashtra	PSP & Issuer
4	Canara Bank	PSP & Issuer
5	Catholic Syrian Bank	PSP & Issuer
6	Central Bank of India	PSP & Issuer
7	DBS Digibank	PSP & Issuer
8	Federal Bank	PSP & Issuer
9	HDFC Bank	PSP & Issuer
10	HSBC	PSP & Issuer
11	ICICI Bank	PSP & Issuer
12	IDBI Bank	PSP & Issuer
13	IDFC Bank	PSP & Issuer
14	Indian Bank	PSP & Issuer
15	Indian Overseas Bank	PSP & Issuer
16	IndusInd Bank	PSP & Issuer
17	Karnataka Bank	PSP & Issuer
18	Karur Vysya Bank	PSP & Issuer
19	Kotak Mahindra Bank	PSP & Issuer
20	Punjab & Sind Bank	PSP & Issuer
21	Punjab National Bank	PSP & Issuer
22	RBL Bank	PSP & Issuer
23	South Indian Bank	PSP & Issuer
24	Standard Chartered Bank	PSP & Issuer
25	State Bank of India	PSP & Issuer
26	TJSB Bank	PSP & Issuer
27	UCO Bank	PSP & Issuer
28	Union Bank of India	PSP & Issuer
29	Yes Bank	PSP & Issuer
30	Bank of India	PSP & Issuer
31	City Union Bank	PSP & Issuer
32	Jammu & Kashmir bank	PSP & Issuer
33	Janta Sahakari Bank Pune	PSP & Issuer
34	Equitas small finance bank	PSP & Issuer
35	Airtel Payments Bank	PSP & Issuer
36	Fino Payments Bank	PSP & Issuer
37	Paytm Payments Bank	PSP & Issuer
38	Bandhan Bank	PSP & Issuer
39	Jio Payments Bank	PSP & Issuer
40	Dhanlaxmi Bank	PSP & Issuer
41	India Post Payments Bank	PSP & Issuer
42	ESAF Small Finance Bank	PSP & Issuer
43	AU Small Finance Bank	PSP & Issuer
44	Dombivli Nagri Sahakari Bank	PSP & Issuer
45	NSDL Payments Bank	PSP & Issuer
46	Deutsche Bank	Issuer
47	Cosmos Co-op Bank	Issuer
48	The Surat Peoples Co-op Bank	Issuer
49	Jana Small Finance Bank	Issuer
50	SBM Bank	Issuer
51	Utkarsh Small Finance Bank	Issuer
52	A P Mahesh Co-operative Urban Bank Ltd	Issuer
53	DCB Bank	Issuer
54	Saraswat Bank	Issuer
55	Apna Sahakari Bank Ltd	Issuer
56	Vasai Vikas sahakari bank ltd	Issuer
57	Thane Bharat Sahakari Bank	Issuer
58	Mehasana Urban co op Bank	Issuer
59	GP Parsik	Issuer
60	Kalyan Janta Sahakari	Issuer
61	CITI Retail	Issuer
62	Rajkot Nagrik sahakari Bank	Issuer
63	Maharashtra Gramin Bank	Issuer
64	Gujarat State Co-operative Bank	Issuer
65	Hasti Co-op Bank	Issuer
66	GS Mahanagar Co op Bank(MAHANAGR BANK IN MAIN DATA BANK)	Issuer
67	Prathama Bank	Issuer
68	Karnataka Vikas Gramina Bank	Issuer
69	Andhra Pragathi Gramina Bank	Issuer
70	Kallapanna Arwade Ichalkaranji Janata sahakari Bank	Issuer
71	Kerala Gramina Bank	Issuer
72	Pragathi Krishna Gramin Bank	Issuer
73	Andhra Pradesh Gramin Vikas Bank	Issuer
74	Chhatisgarh Rajya Gramin Bank	Issuer
75	Purvanchal Bank	Issuer
76	Telangana Gramin Bank	Issuer
77	Saurashtra Gramin Bank	Issuer
78	Meghalaya Rural Bank	Issuer
79	Uttarakhand Gramin Bank	Issuer
80	Jharkhand Rajya Gramin Bank	Issuer
81	Rajasthan Marudhar Gramin Bank	Issuer
82	Mizoram Gramin Bank	Issuer
83	Bassein Catholic Co-operative Bank	Issuer
84	Tamilnad Mercantile Bank	Issuer
85	Assam Gramin Vikas Bank	Issuer
86	Jalgaon Janta co op Bank	Issuer
87	The Vishweshwar Sahakari Bank Limited	Issuer
88	Tripura Gramin Bank	Issuer
89	Manipur Gramin Bank	Issuer
90	Chaitanya Godavari Gramin Bank	Issuer
91	Kashi Gomati Gramin Bank	Issuer
92	SVC Bank	Issuer
93	Baroda Gujarat Gramin Bank	Issuer
94	Baroda Rajasthan Kshetriya Gramin Bank	Issuer
95	The Sutex Co Op Bank	Issuer
96	NKGSB Co-op Bank	Issuer
97	Ujjivan Small Finance Bank	Issuer
98	Baroda Uttar Pradesh Gramin bank	Issuer
99	Samruddhi Co-operative Bank Ltd	Issuer
100	The Varanchha Co-Op Bank Ltd	Issuer
101	Urban Co-op BankLtd, Dharangaon	Issuer
102	Suco Souharda Sahakari Bank Ltd	Issuer
103	Sarva Haryana Gramin Bank	Issuer
104	Telangana State Co-op Apex Bank	Issuer
105	Andhra Pradesh State Cooperative Bank	Issuer
106	Maharashtra State Cooperative Bank	Issuer
107	Paschim Banga Gramin Bank	Issuer
108	Bhilwara Urban Co-operative Bank Ltd	Issuer
109	Suvarnayug Sahakari Bank Ltd.	Issuer
110	The Udaipur Mahila Urban Co-Operative Bank Ltd.	Issuer
111	Maratha Cooperative Bank Ltd	Issuer
112	The Vijay Co-operative Bank Ltd, Ahmedabad	Issuer
113	The Udaipur Mahila Samridhi Urban Co-operative Bank Ltd.	Issuer
114	Sarva UP Gramin Bank	Issuer
115	The Muslim Cooperative Bank Ltd	Issuer
116	Hutatma Co-Op Bank Ltd	Issuer
117	Punjab Gramin Bank	Issuer
118	Abhyudaya Co-op Bank Ltd	Issuer
119	Nainital Bank Ltd	Issuer
120	Himachal Pradesh Gramin Bank	Issuer
121	The Ahmedabad Mercantile Coop bank	Issuer
122	The Ahmedabad District Coop bank	Issuer
123	Madhya Bihar Gramin Bank(Dakshin Bihar Gramin Bank )	Issuer
124	Adarsh Cooperative Bank Ltd	Issuer
125	Suryoday Small Finance Bank Ltd	Issuer
126	Shree Kadi Nagarik Sahakari Bank Ltd	Issuer
127	J & K Grameen Bank	Issuer
128	The Municipal Co-op Bank	Issuer
129	The Malad Sahakari Bank	Issuer
130	The Baroda Central Co-op Bank Ltd	Issuer
131	Fincare Small Finance Bank	Issuer
132	Kalupur Commercial Bank	Issuer
133	Patan Nagrik Sahakari Bank	Issuer
134	Sarvodaya Commercial Co-operative Bank	Issuer
135	Sindhudurg Co-op Bank	Issuer
136	Bharat Co-op Bank(Mumbai)	Issuer
137	Vikas Souharda Co-op Bank	Issuer
138	Shri Arihant Co-operative Bank Ltd	Issuer
139	The Udaipur Urban Co-Operative Bank Ltd.	Issuer
140	Sandur Pattana Souharda Sahakari Bank	Issuer
141	Nutan NagrikSahakari Bank	Issuer
142	The SSK Co-op Bank	Issuer
143	The Ahmednagar Merchants Co-op Bank Ltd	Issuer
144	The Baramati Sahakari Bank Ltd	Issuer
145	Shri Veershaiv Co-op Bank Ltd.	Issuer
146	The Sabarkantha District Central Coop Bank Ltd	Issuer
147	Priyadarshini Nagari Sahakari Bank Ltd Jalna	Issuer
148	The Satara District Central Co-operative Bank Ltd.	Issuer
149	The Kaira District Central Co-Op. Bank Ltd.	Issuer
150	The Banaskantha District Central Co-Op. Bank Ltd.	Issuer
151	The Visakhapatnam Cooperative Bank Ltd.	Issuer
152	Bhagini Nivedita Sahakari Bank Ltd,Pune	Issuer
153	The Anand Mercantile Co-Op. Bank Ltd.	Issuer
154	Citizen Co-operative Bank Ltd – Noida	Issuer
155	Shri Rajkot District Co-op Bank Ltd	Issuer
156	Krishna Bhima Samruddhi Local Area Bank	Issuer
157	Chartered Sahakari Bank Niyamitha	Issuer
158	Sterling Urban Co-operative Bank Ltd	Issuer
159	Capital Small Finance Bank	Issuer
160	Kokan Merchantile Co-operative Bank Ltd	Issuer
161	Pune Cantonment Sahakari Bank Ltd	Issuer
162	Rani Channamma Mahila Sahakari Bank Belagavi	Issuer
163	The Gadchiroli District Central Co-operative Bank	Issuer
164	Fingrowth Co-operative Bank Ltd	Issuer
165	The Banaskantha Mercantile Co-operative Bank Limited	Issuer
166	Bank of America NA	Issuer
167	Nagarik Sahakari Bank Maryadit, Vidisha	Issuer
168	Jalna Merchant’s Cooperative Bank Ltd., Jalna	Issuer
169	The Darussalam Cooperative Urban Bank Ltd	Issuer
170	The Gayatri Co-operative Urban Bank Ltd	Issuer
171	Janaseva Sahakari Bank Ltd Pune	Issuer
172	Janakalyan Sahakari Bank	Issuer
173	The Himachal Pradesh State Co-operative Bank Ltd	Issuer
174	Sri Vasavamba Cooperative Bank Ltd	Issuer
175	Pali Urban Co-operative Bank Ltd	Issuer
176	Manvi Pattana Souharda Sahakari Bank NI	Issuer
177	Jivan Commercial Co-operative Bank Ltd	Issuer
178	Shree Dharati Co-operative Bank Ltd	Issuer
179	Coastal Local Area Bank Ltd	Issuer
180	Citizens Co-operative Bank Ltd	Issuer
181	Shri Chhatrapathi Rajarsshi Shahu Bank	Issuer
182	The Kanakmahalakshmi Co-operative Bank Ltd	Issuer
183	The Pochampally Co-operative Urban bank Ltd	Issuer
184	The Surat District Co-op Bank Ltd.	Issuer
185	Yadagiri Lakshmi Narasimha Swamy Co-Op Urban Bank Ltd	Issuer
186	The Modasa Nagarik Sahakari Bank Limited	Issuer
187	Shri Mahila Sewa Sahakari Bank Limited	Issuer
188	Kolhapur District Central Co-operative Bank Limited	Issuer
189	Smriti Nagrik Sahakari Bank Maryadit, Mandsaur	Issuer
190	Indore Paraspar Sahakari Bank Ltd	Issuer
191	Samarth Sahakari Bank Limited	Issuer
192	Associate Co-operative Bank Limited, Surat	Issuer
193	Shri Basaveshwar Sahakari Bank Niyamit, Bagalkot	Issuer
194	The Adarsh Urban Co-op. Bank Ltd., Hyderabad	Issuer
195	The Vallabh Vidyanagar Commercial Co-operative Bank Ltd	Issuer
196	Malviya Urban Co-operative Bank Limited	Issuer
197	Sri Rama Co-operative Bank Ltd	Issuer
198	Model Co-operative Bank Limited	Issuer
199	The Merchants Souharda Sahakari Bank Ltd	Issuer
200	Prime Co-operative Bank Ltd.	Issuer
201	Shivalik Mercantile Co-op. Bank Ltd.	Issuer
202	Saibaba Nagari Sahakari Bank Maryadit	Issuer
203	Madhya Pradesh Rajya Sahakari Bank Maryadit	Issuer
204	Mann Deshi Mahila Sahkari Bank Limited	Issuer
205	Shree Mahavir Sahakari Bank Ltd	Issuer
206	The New Urban Co-Operative Bank Ltd.Rampur	Issuer
207	North East Small Finance Bank Limited	Issuer
208	The Akola District Central Cooperative Bank Ltd	Issuer
209	Irinjalakuda Town Co-Operative Bank Ltd	Issuer
210	Surat National Co-operative Bank Limited	Issuer
211	The Latur Urban Coop Bank	Issuer
212	The Co-operative Bank of Rajkot	Issuer
213	The Sirsi Urban Sahakari Bank Limited	Issuer
214	VIKRAMADITYA NAGRIK SAHAKARI BANK	Issuer
215	The Rajkot Commercial Co-op Bank Ltd.	Issuer
216	Sadhana Sahakari Bank Ltd Pune	Issuer
217	The Eenadu Coop Urban Bank Ltd	Issuer
218	Chhattisgarh Rajya Sahakari Bank Mydt	Issuer
219	Sadhana Sahakari Bank Ltd Pune	Issuer
220	Sardar Vallabhbhai Sahakari Bank Ltd	Issuer
221	Lonavala Sahakari Bank Ltd	Issuer
222	The Godhra Urban Coop Bank Ltd	Issuer
223	Vaishya Nagari Sahakari Bank Ltd Parbhani	Issuer
224	Kolhapur Mahila Sahakari Bank Ltd.	Issuer
225	Rajgurunagar Sahakari Bank Ltd.	Issuer
226	The Jalgaon Peoples Co-op Bank Ltd.	Issuer
227	Bhadradri Co-operative Urban Bank	Issuer
228	Shree Panchganga Nagari Sahakari Bank Ltd	Issuer
229	The Kakatiya Co-operative Urban Bank Limited	Issuer
230	Shri Janata Sahakari Bank Limited, Halol	Issuer
231	The Dahod Urban Co-operative Bank Limited	Issuer
232	The Sarvodaya Nagrik Sahakari Bank Limited	Issuer
233	Deogiri Nagari Sahakari Bank Ltd Aurangabad	Issuer
234	Navi Mumbai Co-operative Bank Limited	Issuer
235	Ambajogai Peoples Co-operative Bank Limited	Issuer
236	Mahesh Sahakari Bank Limited	Issuer
237	The Bhagyodaya Co-operative Bank Limited	Issuer
238	The Khamgaon Urban Co-operative Bank Ltd, Khamgaon	Issuer
239	The Kolhapur Urban Cooperative Bank Ltd., Kolhapur	Issuer
240	The Sardar Bhiladwala Pardi People’s Co-Op. Bank Ltd.	Issuer
241	The Saurashtra Co-operative Bank Ltd., Ahmedabad	Issuer
242	Tirupati Urban Co-operative Bank Limited	Issuer
243	The Kranthi Co-operative Urban Bank Limited	Issuer
244	Rajarshi Shahu Sahakari Bank Limited	Issuer
245	Karnataka Mahila Sahakara Bank Niyamitha	Issuer
246	The Karnataka State Co-operative Apex Bank Limited	Issuer
247	Sree Charan Souhardha Co-operative Bank Limited	Issuer
248	The Jamkhandi Urban Co-operative Bank Ltd	Issuer
249	Amreli Jilla Madhyastha Sahakari Bank Ltd	Issuer
250	Saraspur Nagrik Co-operative Bank Ltd	Issuer
251	The Co-operative Bank of Mehsana Ltd	Issuer
252	The Mandvi Nagarik Sahakari Bank Ltd	Issuer
253	Jijamata Mahila Sahakari Bank Ltd	Issuer
254	Sri Sudha Cooperative Bank Ltd	Issuer
255	The Gandhinagar Nagrik Cooperative Bank Ltd	Issuer
256	Kankaria Mainagar Nagrik Sahakari Bank Ltd	Issuer
257	Akhand Anand Co.op Bank Ltd	Issuer
258	The Surat Mercantile Coop Bank Ltd	Issuer
259	Shri Bharat Urban Co-operative Bank Ltd Jaysingpur	Issuer
260	Mahanagar Nagrik Sahakari Bank Maryadit	Issuer

What is a UPI-PIN?

UPI-PIN (UPI Personal Identification Number) is a 4-6 digit passcode that you can create/set during first-time registration with this App. You have to enter this UPI-PIN to authorize all bank transactions. If you have already set up a UPI-PIN with other UPI Apps you can use the same on BHIM.
Note:

1. Banks issued MPIN is different from the UPI UPI-PIN,
2. Please generate a new UPI-PIN in the BHIM app
3. Please do not share your UPI-PIN with anyone.
4. BHIM does not store or read your UPI-PIN details and your bank’s customer support will never ask for it.

What happens if I enter wrong UPI-PIN during a transaction?

In case you enter the wrong UPI PIN, the transaction will fail. In case you input the wrong UPI PIN multiple times, the bank may temporarily block sending money using UPI from my account (this varies from bank to bank).

I have selected the Bank name to link with UPI but it does not find my bank A/C?

In such a case, please ensure that the mobile number linked to your bank account is the same as the one verified in any UPI App. If it is not the same, your bank accounts will not be fetched by the UPI platform.

How do I pay an online merchant through UPI?

When you shop online, you can pay through UPI when you see UPI as a payment option. On clicking that, you will need to enter your Payment Address (eg – xyz@upi). Once entered, you will receive a collect request on your BHIM app. Enter your UPI-PIN here and your payment will be complete. As easy as this!

Do money transfers happen on UPI only during banking hours?

All payments are instant and 24/7, regardless of your bank’s working hours.

I have paid for my transaction but not received anything. Why is that?

Once you complete a transaction, you should see a success status on the BHIM screen and receive an SMS from your bank. In some cases, due to operator issues, it can take a longer time. In case you have not received your confirmation within an hour please contact the customer support at your bank.

How is UPI different from IMPS?

UPI is providing additional benefits to IMPS in the following ways:

1. Provides for a P2P Pull functionality

2. Simplifies Merchant Payments

3. Single APP for money transfer

4. Single click two-factor authentication

Does a customer need to register before remitting funds using UPI?

Yes, a customer needs to register with his/her PSP before remitting funds using UPI and need to link his accounts.

Does the customer need to register a beneficiary before transferring funds through UPI? What details of beneficiary will be required?

No, registration of Beneficiary is not required for transferring funds through UPI as the fund would be transferred on the basis of Virtual ID/Account+IFSC/Aadhaar Number. (Please check with your PSP and Issuing bank with regard to the services enabled on the App).

What happens if my mobile phone is lost?

In case of mobile loss, one needs to simply block his mobile number thus no transaction can be initiated from the same mobile number which is a part of device tracking, and at the same time, a UPI pin would be required for any transaction which is not to be shared with anyone.

Can I link more than one bank account to the same virtual address?

Yes, several bank accounts can be linked to the same virtual address depending on the functionalities being made available by the respective PSPs.

What are the different channels for transferring funds using UPI?

The different channels for transferring funds using UPI are:

1. Send/Collect through Virtual ID
2. Account Number + IFSC
3. Aadhaar Number

What if my account is debited but the transaction does not go through?

UPI provides for real-time reversals for declines and the amount would be transferred back to the payer account immediately. In case if it does not reverse the amount immediately, you can contact your bank for the same.

What is the limit of fund transfer using UPI?

At present, the upper limit per UPI transaction is Rs.1 Lakh.

What happens if I forget my pin?

In case someone forgets the UPI pin, he needs to re-generate a new UPI pin using his debit card details (the last six digits of their debit card & expiry date).

Will I be able to use UPI after I change my sim or mobile?

In case of change in sim/mobile/application of the PSP, customers would require to re-register themselves for UPI.

What if I change my handset?

If you change your handset, you will need to:

1. Download the PSP app again
2. Register through mobile verification
3. Your VPA will be auto saved

What if I lose my phone?

If you lose your phone, the UPI-PIN is required to authorize all transactions which will not be known to any third person, and hence they will not be able to use the UPI app. In addition, please contact our customer support at your bank in the event you lose your phone.

My UPI transaction has failed but my bank account has been debited?

In case of failure, money will be refunded back to your account. Sometimes this takes longer than intended. If you do not receive the refund within 1 hour, please contact customer support at your bank.

How can a merchant start accepting payments on UPI?

To enable the UPI system, merchants need to partner with the acquirer bank. Acquiring the bank will provide the UPI infrastructure to merchants.

When will merchant receive the money after UPI transaction?

The merchant will receive the money immediately after the customer confirms the payment into the merchant Pool bank account/ merchant bank account as per their agreement.

What is MCC code and who provides MCC code?

MCC Code (merchant category code) is the four-digit number listed in the ISO 18245 for retail financial services. MCC is used to classify the business by the type of goods or services it provides. And the MCC code is provided by the bank while the onboarding process.

How can a merchant start accepting payments on UPI?

To enable the UPI system, merchants need to partner with the acquirer bank. Acquiring the bank will provide the UPI infrastructure to merchants.

What are available integration modes for merchant?

Merchant can integrate UPI through QR, Intent, application-based, and Collect modes

What is QR based integration mode?

QR-based integration is features given to merchants where they can use a QR for UPI transactions. In the QR the merchant information is stored like merchant UPI ID and amount. So, when the customer scans the QR for payments the customer will get the merchant information on the payment page.

If a customer returns the goods or rejected the services, how will the merchant return the money?

The merchant will ask the bank to refund the charged amount as per the defined process.