The evolution of financial transactions has been remarkable. Every reform has been undertaken to make it easier, smoother, and secure. The latest advancement is the mechanism of the Unified Payment Interface.
Launched in 2016, it has obtained massive market capitalization. Demonetisation and other critical economic reforms in India, which forced the people to go cashless, have paved the way for UPI.
- It is a real-time payment system developed by the National Payment Corporation of India (NPCI) and regulated by the RBI.
- It basically facilitates inter-bank, peer-to-peer (P2P), and person-to-merchant (P2M) transactions.
- The payments can be made through mobile number or UPI ID, amongst many other ways, by a single UPI pin.
- As it provides a highly user-friendly interface with a wide range of services, UPI has gained immense popularity over other online banking systems.
What is UPI ID?
UPI id means unique alphanumeric address that every UPI beneficiary will get after successful registration in the particular app.
- It's basically a virtual payment address.
- It's distinct for each account and each application.
- Usually, it's either in the form of your email ID or mobile number along with the bank name or some other references. Example of UPI id. email ID@okicici or 1234567890@ybl
- You can share them with the people who need to pay you.
Here’s how to get UPI id or check in some of the most popular apps:
1. Google Pay
If you want to check what is your UPI id in google pay then, you can follow the simple steps mentioned below to know your UPI ID.
- Log in to the application.
- Click on your profile.
- You will find your ID mentioned below the username and mobile number.
- If you click on your photo, you will see the scanner. The ID is also mentioned below it.
If you want to check what is UPI id in google pay then
2. BHIM
It's specially launched by the government organization NPCI. Here, it's way too easy to know your UPI ID.
- Open the app
- Click on the profile on the homepage.
- You will see your address.
3. Paytm
Along with the UPI facility, Paytm offers the most diverse range of services. You can find the UPI ID following these steps:
- Open Paytm
- Go to the UPI section.
- There you will find your ID along with the scanner.
4. Phone Pe
Based in Bengaluru, it was acquired by the E-commerce giant Flipkart in 2017. Here, you will get your unique address quite easily.
- Open the app anytime.
- Click on the profile in the top left corner.
- Tap on 'UPI IDs.
- You will see your ID in any of the three variants, such as your mobile number, followed by @ybl, @ibl, or @axl.
For some users, the ID is rightly mentioned on the homepage itself.
5. Mobikwik
One of the latest UPI service providers, Mobikwik, offers a user-friendly interface. To know your UPI ID in this app, all you need to do is:
- Open the app.
- Tap on the particular bank account whose ID you require.
- There you go!
Conclusion
Each application has a little different process to be followed to know the UPI ID. But it's more or less similar. A little tutorial like this, and you are ready to jump into the world of UPI!
I hope you liked our article on how to get UPI id, if you have any comments or suggestions do share them in the comments below.
Frequently Asked Questions
1. Who started UPI?
It was introduced on 11th April, 2016 by the NPCI in India.
Later on, it was popularised by Phone Pe and GPay ( then 'Tez'). Gradually a lot of other players came into prominence.
2. What is the full form of UPI ID?
Well, it literally stands for Unified Payment Interface Identity Document. It is a virtual payment address.
3. How do I recover my UPI pin?
The UPI pin is very important and sensitive. It needs to be secured and memorized. In case you forget it, you can recover it from any of the apps.
- You have to enter certain details about your bank account and debit card.
- After some OTP-mechanism, you might be able to recover/reset/change it
- In any case, if you open a UPI account in any new app, you will have the opportunity to set a new pin.
4. Is UPI ID unique?
Yes, it is. It's different for different apps for the same phone number. There will also be a difference in ID if you are using multiple bank accounts for the same mobile number in a particular app.
The bottom line is that there would be a unique ID for a combination of a mobile number, bank account, and application. If any of the three changes, there will be another address.
