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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.
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.
IndusInd Pay is the UPI application of IndusInd Bank. Unified Payments Interface allows all holders of bank accounts (UPI banks) via a single Virtual Payment Address (VPA) ID and mobile portal to send and receive money without the need to keep track of any beneficiary data, or use the UPI to perform commercial transactions. It allows IndusInd Bank account holders to make payments instantly from any bank account, using only the Virtual Payment Address, without any need to know other specifics of the recipient.
In order to use UPI for your payments, you need to have a bank account in India with your mobile number linked to that bank account. UPIs allow you to link multiple bank accounts to your single IndusInd Bank UPI account. 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.
BHIM IndusPay UPI App is the official app to use IndusIndPay UPI features. This app is available on Google Play Store for free download.
About IndusInd Bank UPI
It is very simple to download and install the IndusPay app on your smartphone. Follow these steps to setup IndusPay:
You can send money from the 'Consumer' section of the IndusPay app. You can send money to a person using these criteria – VPA, Account number and IFSC Code & Mobile number and MMID
Follow these simple steps to transfer money:
Similar to sending money, you can receive money too from the 'Consumer' section of the IndusPay app. Follow these simple steps to receive money:
You can set UPI PIN for every account linked on the IndusPay UPI App. Follow these simple steps to set your UPI PIN:
IndusPay UPI allows you to make payments for your online purchases. It is very simple and similar to your credit or debit card payments.
Right now, IndusPay UPI App allows you to recharge your Delhi Metro (DMRC) smart card instantly.
Very soon, you can perform various other transactions like:
UPI Mandate is a feature that allows you to pre-authorize (Mandate) transactions to be debited from your bank account later. The mandate of the UPI is to be used in situations where money is to be transferred later, but the commitment to that is to be made now. It is likely that the sender will forget to send money later in order to establish a mandate or to make a service/merchant payment where this feature may be necessary. The account of the consumer shall be debited when the mandate is fulfilled.
Benefits of UPI Mandate:
How to use UPI mandate on BHIM Induspay?
1. What is the IndusPay Virtual Payment Address (VPA)?
IndusPay Virtual Payment Address is a unique identifier (for e.g. abc@indus where "abc" is the unique name chosen by you) that can be specifically linked to any preferred account of any UPI powered account.
2. How do I link my account number to the IndusPay App?
The account number can be linked to the VPA during registration or from the Account Management choice inside the App. You just have to pick the bank you want and all your accounts linked to the authorized IndusPay mobile number will be retrieved and shown. You can pick an account and connect it to your VPA.
3. Can I connect more than one account to a single VPA account?
Yes, you can do that. Choose your current VPA when connecting to your second bank account. If you connect more than 1 account to a VPA, you can set up a default account to send and receive money.
4. Can I change my default account?
You may switch the default account by selecting the preferred account option on the App.
5. What happens if the transfer transaction fails or is transferred to an incorrect account?
You need to carefully check all the details of the beneficiary before making any transactions. In the event that such an error occurs, you can file a complaint from the application itself via the complaint section. In the event of a failed transaction, the balance will be refunded directly to the account within 7 working days.
6. What are some of the reasons for the UPI transaction to fail?
There are many explanations for a failure of the UPI transaction:
7. What happens if my phone is lost or stolen?
If you lose your phone, the UPI PIN needed to approve all transactions would not be known to a third party and will therefore not be able to use the Bharat Interface for Money. In addition, you have to contact the customer service department at your bank to make sure that your account is not misused.
8. What's the UPI PIN?
UPI PIN (UPI Personal Identification Number) is a 4 to 6-digit secret code that you create/set when you first register with this app. You must enter this UPI PIN to approve all bank transfers. If you have already set up a UPI PIN for other UPI Services, you can use the same for Bharat Interface for Money (BHIM) Banks given MPIN are different from the UPI PIN. Please use the Bharat Interface for Money app to create a new UPI-PIN. Please don't share your UPI PIN with anybody else. Bharat Interface for Money does not store or read your UPI PIN data, and the customer service of your bank will never ask for it.
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