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Introduction

UPIs and digital payments apps saw a surge with the Government’s support to transform our country into Digital India. HSBC Bank has been the pioneer in introducing various user friendly features for their banking customers. HSBC UPI is one such feature.

HSBC SimplyPay App is the official UPI App for HSBC Bank. This app allows you to link your multiple accounts with a single mobile app. The HSBC SimplyPay App offers the opportunity to transfer funds in real-time payment and collection of money from friends and relatives. Your virtual payment address is all you need to send or receive money.

You can also send money to another person using just their mobile number or their bank account number. Also, there is no longer the hassle of loading balance into your wallet, as the amount is directly debited from your bank account and credited to the other person’s bank account.

What is UPI and how does it work?

Hsbc Bank Upi

UPI stands for Unified Payment Interface (UPI). It enables money to be immediately transferred via a mobile phone from one bank account to another. Payments can only be rendered via supporting mobile phone apps. The cash transactions through UPI are available 24x7.

Unified Payments Interface (UPI) is a portal developed by the National Payments Corporation of India (NPCI) to facilitate interoperability between banks. This is a one-stop solution for using separate bank accounts to carry out transfers from a single app. It allows all account holders to send and receive money through their smartphones with a single identifier – the Virtual Payment Address (VPA) commonly known as the UPI ID – without needing any bank account information. Customers often do not need to know the IFSC code of the beneficiary or payer, bank account details, etc., and this allows the transaction to be quicker. So customers will make quicker transactions to their friends and merchants.

The UPI is an immediate transferral of money from an individual to a person and from a person to a retailer with a smartphone, the next generation payments platform. It can be used as a single smartphone application for various bank accounts (of any participating bank), fuses a range of banking functions, smooth fund transfers and merchant payments under a single app.

For the purpose of using UPI, you need to have a savings bank account with a member bank. Most banks are now permitting UPI transfers. You must then download the UPI support app for your mobile phone. Some other popular apps that provide UPI payment are BHIM created by NPCI, and certain private companies such as Paytm, PhonePe, Google Pay, Amazon Pay, etc. Make sure you have your mobile number listed for authentication on your bank account.

Features of HSBC UPI

  • Enjoy safe and secure transactions
  • Transfer money instantly and enjoy services 24X7 even on public or bank holidays
  • Just use a Virtual Payment Address to send money. You can also use the Account number/IFSC code combination to make transactions
  • Use the Pay to Contact / Collect from Contact option when both the payer and payee are registered on HSBC SimplyPay
  • Has a “Pay again” option in your transaction history which helps you pay to the same beneficiary again in a matter of seconds
  • Send or Collect payments through a Virtual Payment Address
  • No need to set up prior beneficiary 
  • Make payment to any merchant who is live on UPI

How to use HSBC SimplyPay?

HSBC SimplyPay App is available on Google Play Store and Apple App Store for easy download. Download the app on your smartphone and install it.

  • HSBC SimplyPay app comes with an easy to use user interface
  • It allows you to conduct various transactions like send or receive money, merchant payments, bill payments, etc.
  • Make transactions anytime anywhere; available 24/7 and 365 days
  • Payment authorization option 24 hours a day
  • Real-time credits; almost within a few seconds
  • Notification of and permission for the collection-to-pay order initiating by a retailer would be received on the customer's mobile device. The payee's VPA can be seen in the customer's UPI app
  • Can be run via any UPI app of any banks, including the NPCI BHIM App.
  • The same UPI app will connect customer accounts in several banks against a common VPA

Once you have installed it, follow these steps to register 

  • Register with your mobile number and device 
  • Select your Virtual Payment Address (VPA)
  • Select your Bank and account you want to make transactions from
  • Set your Application password and the security question and answer for added security

Setting the UPI PIN

  • Once you have created and registered the account, go to the ‘Manage UPI PIN’ option
  • First time users should go to ‘Set UPI PIN’ option
  • Choose the bank account and select a PIN number
  • Enter the last 6 digits of the Debit card number and the card expiry date and click on Submit
  • You will receive a SMS OTP from your issuing bank which you will need to enter on the next page and set your UPI PIN
  • You are all set to start doing transactions

Changing your UPI PIN

  • In future, if you want to change your UPI PIN, you can do it on the app too
  • Go to the Manager UPI PIN option
  • Click on ‘Manage UPI PIN’ button
  • Here you can update new UPI PIN of your choice

Security feature of HSBC SimplyPay App

HSBC SimplyPay is built to be very secure. Here are some unique security features of the app:

  • It is necessary to share only the VPA with the seller or merchant. Account number need not be given for any kind of bill payment or merchant payments
  • Comes with 2 factor authentication for enhanced security; both the registered mobile device and UPI PIN are required to carry out a transaction

What transactions are supported on HSBC UPI?

HSBC UPI SimplyPay supports the following transactions – 

  • Person to Person (P2P); this includes collection and payment requests between two individuals.
  • Person to Merchant (P2M) = this includes collection and payment request between an individual and a Merchant.
  • Balance Enquiry of your bank account

Are there any requirements to download and use the HSBC SimplyPay UPI?

  • You need to have an active Resident Bank account
  • You should have an Android Smartphone with an android version 4.2 and above
  • Have a stable internet connection (WiFi or mobile data). Device binding and registration will not be permitted on Wi-Fi connection.
  • Valid Debit card with an expiry date
  • Valid India Mobile number updated on the bank account that is to be linked to the UPI

How to send money using HSBC SimplyPay UPI?

  • Open your HSBC SimplyPay UPI App
  • Click on ‘Pay’ option
  • You can find the person using their VPA Address, mobile number or bank account number
  • Enter the amount you want to transfer
  • Enter the UPI PIN to authorize the transaction
  • The transfer is complete
  • Both you and the receiver receive an SMS to confirm the transaction

How to make merchant payments using HSBC SimplyPay UPI?

It is very easy to make payments at a merchant establishment

  • Open the HSBC SimplyPay UPI App
  • Click on ‘Pay’
  • You can pay using the merchant’s phone number, VPA Address or by scanning the QR code available at the shop
  • Enter the amount
  • Input the UPI PIN to authorize the transaction
  • You are done

Security tips to protect your transactions and personal details on the HSBC SimplyPay UPI App

HSBC SimplyPay App comes with enhanced security features to keep your bank account details safe and secure. However, there is an onus on the user too to follow some safety precautions to prevent theft and fraud. Here are some basic safety rules you should follow to protect your data and privacy;

Do's

  • 1. Install/Update HSBC SimplyPay App from Google Play Store only.
  • 2. Secure your cell phone password
  • 3. Ensure that the HSBC SimplyPay app is separate from your phone password or the MPIN/UPI PIN, ATM/Debit or PIN number of your credit card. Do remember to log out of the application after the task has been accomplished.
  • 4. Install mobile security data management applications
  • 5. Please notice the SMS alerts/App updates you get on HSBC SimplyPay.
  • Delete all personal information from your mobile device before discarding it

Don'ts

  • Don't install/update software from unreliable sources
  • Don't click on questionable links/pop up/emails to update your UPI programme.
  • Don't press questionable email or instant message attachments
  • Do not exchange your passwords or PIN/MPIN/UPI PIN with others, even bank employees.
  • Don't approve the 'Collect Money' order until you have checked the source of the payment.
  • Do not choose default login solutions
  • Do not save any authentication credentials or passwords on your mobile device (including SMS text)
  • Do not use public Wi-Fi connectivity for mobile banking

HSBC UPI FAQs

1. Can I download the HSBC SimplyPay app on both my smartphone and tablet?

UPI is indeed available for Android and IOS mobile users, and the HSBC SimplyPay App can be downloaded from the Google Play Store and App Store respectively on any number of devices.

2. May I connect my other bank accounts to the HSBC SimplyPay App? May I connect more than one account to a VPA? How many accounts will I connect to a single VPA?

Yeah, you can connect up to five accounts per bank to one Virtual Payment Address (VPA) on the HSBC SimplyPay App.

3. One of the banks where I hold an account is not reflecting on the list of banks. Why?

Only banks that are approved and eligible with the NPCI UPI will be included in the drop-down. If you do not see a bank in the list, this means that the bank in question did not register with the UPI service.

4. Why am I able to see the account of my family members (my father's and my wife's accounts) while I'm attempting to add accounts to the HSBC SimplyPay App?

UPI gathers the account data on the basis of the telephone number updated on bank accounts. If your mobile number is updated with your wife/mothers account, the HSBC SimplyPay App will show and allow you to connect all such accounts. You will only be able to pay via these accounts if you have a Debit card and its expiry date to set the UPI PIN for that card.

5. Are there any charges for using the HSBC SimplyPay UPI App?

There are actually no costs for using the HSBC SimplyPay Service. However, in the future, the bank might intend to charge customers with an appropriate notice.

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