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A step towards cashless economy -

Unified Payments Interface (UPI)


Indian Payments Industry-An Overview
Payment Instrument Mix for Countries (2015)

India has
traditionally
been Cash
Centric
Economy

However the contribution of Cash Transactions has seen a decline at a rapid rate and
Proportion of Non-Cash transactions will overtake Cash Transactions by 2023
Value of Consumer Payments-% Cash vs Non-Cash (Paper ,Card and Digital)
India is becoming a Digital Country
Massive Growth in Digital Transactions

75% of Merchants believe that using Digital payments would accelerate future sales
Universe of Payment Industry in India
Significant Payment Activity in the last 3-4 years
Why Digital Payments….
Where Digital Payments is used now…..
How the Digital Payments is going to be used….
USD 500 Billion will Flow Through Digital Payments in India by 2020

USD 500 billion will flow through Digital payments in India by 2020

Merchant Payments will constitute 40% of Digital Payments


Unified Payments Interface
Agenda
1. What is UPI?
2. Why UPI?
3. Basic Structure of UPI
4. Existing Infrastructure
5. New Infrastructure after UPI
6. Key Characteristics
7. Value Proposition of UPI
8. Benefits of UPI to Banks / Members
9. Benefits of UPI to end Customers
10.Customer Registration – 1st & 2nd Transaction flow
11. MPIN Based transactions – “PUSH” & “PULL”
12. Broad risks perceived and mitigation
What is Unified Payment Interface ?
Objective of a unified payments system is to offer an architecture and a set of APIs on top of existing systems to
facilitate online instant payments and financial inclusion.

• The payments can be both sender (payer) and receiver (payee)


Push & Pull Payments initiated and are carried out in a secure, convenient, and
integrated fashion

• The unified payment system is expected to further propel easy


Easy Instant Payments instant payments via mobile, web, and other applications

• This next generation payment system provides an ecosystem


Scalable Architecture driven scalable architecture and a set of APIs taking full
advantage of mass adoption of smartphone

Value Added Service


• Virtual payment addresses, single click 2 factor authentication,
1 Click 2FA & Virtual address Aadhaar integration, use of payer’s smartphone for secure
credential capture, etc. are some of the core features
Why Unified Payment Interface ?

Mobile Payments have not Using Aadhaar number, mobile


scaled up in the country number, card number, virtual
address and account number in a Virtual Payment Address
unified way

Secure MPIN entry on NPCI Push /Pull Authentication by MPIN and


libraries Remote/Proximity Biometric

Mobile App
Merchant Single Click 2 Factor
Remittance including P2P Authentication
ECommerce
Basic Structure of UPI
NPCI Services covered currently
• IMPS – Phase I

Security
• HTTPS, PKI Infrastructure, (MPIN on mobile and OTP is encrypted using the Public Key and decrypted
by the Issuer using the Private Key), Device fingerprinting

Addresses allowed
• Aadhaar Number, Mobile Number, and Account Number & Virtual Address

Virtual address
• Global Addresses: Resolved by NPCI, Aadhaar Number & Mobile Number @NPCI handle
• Virtual Address: Resolved by PSPs, using Address Translation API, @psp handle

All address will be normalised as Handle - “account@provider” format


Participants

PAYMENT SERVICE PROVIDER


(PSP) BANKS

• PSPs will be banks who • Merchant or customer’s • NPCI provides UPI


will provide Apps bank (account interface.
relationship)
Benefits to Banks

Simple Universal App for Leverages existing


(Single click 2FA) transactions Infrastructure

Payments basis Tap C2B segment &


Secure Single/Unique
Identifier E-Com / M-Com
Benefits to Merchants

Seamless fund collection No risk of storing Tap customers not


from customers - single customer’s virtual having credit/debit
identifiers address like in Cards cards

Suitable for e-Com & m-


Com/ Single click 2FA facility
to the customer - In-App Payments (IAP)
Resolves the COD seamless Pull
collection problem
Benefits to End Users

Privacy Multiple Utility One Click 2 FA

Share only Virtual Address and Cash on delivery/bill split Authorise transaction by
no other sensitive information sharing/ merchant payments / entering only the PIN
remittances (Biometric to Follow)

Work across various interfaces Payment through Aadhaar Availability & Security
Number
Payment request generated on Available 24*&*365. Customer
Web interface; authorized on Pay using the Aadhaar number does the transaction on his
Mobile interface (App) personal device
Transaction Types

Financial Transactions Non-Financial Transactions

• Pay Request • Mobile Banking Registration*


• Collect Request • Generate One Time Password ( OTP)
• Set / Change PIN
• Check Transaction Status
• Log a complaint

* For mobile numbers already registered with the bank for SMS alerts
Benefits of UPI
Simplified Authentication:

Authentication First Txn Authorised by Subsequent Txn Authorised by


1st Factor Mobile Number (OTP) Issuer Mobile Number/User ID PSP
MPIN* or Biometrics MPIN or Biometrics matched
2nd Factor Issuer Issuer
matched against UIDAI against UIDAI

Simplified Issuance Infrastructure: One can specify the beneficiary details in the form of A/C Number, Mobile Number, Aadhaar Number &
also Virtual address depending on the privacy concerns of the customer. Mobile phone is used for authorization
Simplified Acquiring Infrastructure: India has nearly a billion phones and 150 million smartphones (expected to be at 500 million in next 4-5
years), massive scale can be achieved if effective use of mobile is made compared to creating costly physical acquiring infrastructure
Innovation: Innovations such as reminders, using multiple accounts via single mobile applications, using special purpose virtual addresses,
etc. allow users to enjoy superior UX
1-click 2-FA Transactions: Since mobile number is bound to the device, the mobile phone itself becomes the first factor of authentication
and M-Pin/Biometric is used for second factor authentication
Creating National Interoperability: Proactively creating this unified interoperable interface allows all players to innovate and provide
superior customer experience and still provide a secure, standard based, interoperable payment scheme
Simple enabling Steps

Step 3
• Register for Mobile
Step 2 banking, if not already
registered / Generate
• Add Bank Account/s PIN for Transactions
Step 1
• Download PSP App
and create Profile
Case 1: 2 Party P2P Push Transaction
Steps:
1. Customer initiates a pay Request by entering the
Virtual Address of the Payee
2. Payer PSP/Remitter Bank debits the customer’s
account & sends the ReqPay message to UPI
3. UPI routes it to the respective Payee PSP and send
ReqAuthDetails message
4. Payee PSP identifies the Address and responds
back with RespAuthDetails message.
5. UPI sends a credit request to the Beneficiary Bank.
6. Beneficiary Bank credits the customer’s account &
responds successful credit to UPI
7. UPI sends a successful confirmation to the Payer
PSP
8. Payer PSP sends the confirmation to the customer
Case 2: 2 Party P2P Pull Transaction
Steps:
1. Customer sends a Collect Request by entering
the Virtual Address of the Payer.
2. Payee PSP sends the ReqPay message to UPI
3. UPI routes it to the respective Payer PSP basis
resolution of the handle
4. Payer PSP/Remitter Bank sends a notification to
the Payer customer for authorization. Customer
enters the PIN & confirms the payment. Payer
PSP debits the Payer’s account and sends the
RespAuthDetails message to UPI
5. UPI sends a Credit Request to Beneficiary Bank
6. Beneficiary Bank credits the customer’s
account & responds successful credit to UPI
7. UPI sends the RespPay message to Payee PSP
8. Payee PSP sends the confirmation to the
customer
Case 1: 3 Party P2P Push Transaction
Steps:
1. Customer initiates a Pay Request by entering the
Virtual Address of the Payee customer and PIN.
2. Payer PSP sends the Request Pay along with
customer’s credentials to UPI
3. UPI sends address resolution request
(ReqAuthDetails) to payee PSP.
4. Payee PSP identifies the Address and sends the
relevant account information to UPI
5. UPI sends the debit request to payer bank.
6. Remitter bank sends the response after debiting the
customer account
7. UPI sends a credit request to the Beneficiary Bank
8. Beneficiary Bank credits the customer’s account and
responds successful credit to UPI
9. UPI sends the same to Payer PSP
10. Payer PSP sends a successful confirmation of the
transaction to the customer
Case 2: 3 Party P2P Pull Transaction
Steps:
1. Customer sends a Collect Request by entering the
Virtual Address of the Payer customer.
2. Payee PSP sends the same to UPI
3. UPI sends it to the respective Payer PSP for address Payer PSP
resolution and authorization
4. Payer PSP sends a notification to the Payer customer
for authorization. Customer enters the PIN & confirms
the payment. Payer PSP sends the same to UPI
5. UPI sends the debit request to Payer bank.
6. Remitter bank debits the Payer’s account and sends the
confirmation to UPI.
7. UPI sends the credit request to the Beneficiary Bank
8. Beneficiary Bank credits the customer’s account and
confirms the same to UPI
9. UPI sends the successful confirmation to the Payee PSP
10. Payee PSP sends the confirmation to the customer
Case 1: 4 Party P2P Collect Transaction
 Person requested funds by using UPI App Payer agrees to pay and enters the
PIN

Issuer Bank

Payers virtual address flows to UPI for address 5 6


resolution and authorization through payee PSP

2 3
Payee PSP Payer PSP
Beneficiary PSP 9 UPI 4
Remitter PSP

1 10
7 8

Payee Initiates the


Acquirer Bank
Transactions

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Case 2: 4 Party P2P Pay Transaction
 Person Initiated payment by using UPI App

Issuer Bank

Beneficiary's virtual address flows to UPI for address


resolution through payer PSP 5 6

2 3
Payer PSP
9
UPI 4
Payee PSP
Remitter PSP UPI Beneficiary PSP
10
1 7 8

Person enters the PIN Acquirer Bank

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 Merchant Transaction Flows

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Merchant Initiated Intent
• Banks that are offering the merchant PSP integrated App, should also have an intent call on the phone to call
other PSP Apps.
• The bank can embed its SDK in the Merchant App for an intent call. This is to ensure that call is made to their
central system by ‘their code’ and additional authentication.

Process:
• In case of transactions initiated through merchant App, merchant will get ‘reference ID’ from their respective
PSPs before initiating the transaction. The following process will be followed to ensure that concerned
merchant is initiating the transaction.

 On the merchant App, when the customer selects the “Pay by UPI” option, the merchant will initiate request to
its Acquiring Bank seeking a “Reference ID”.
 In response, the Acquiring Bank will provide “Reference ID” linked to transaction Amount to that merchant.
 The merchant App initiates an intent call with that “Reference ID” to the UPI enabled PSP App on the Mobile.
 The transaction comes from UPI enabled App to UPI system.
 UPI system forwards to the Acquiring PSP for translation of merchant Virtual ID to actual Bank account details.
 Acquiring PSP before doing translation, will validate the “Reference ID” and amount for the Merchant.
 If reference ID matches, only then the further process will continue, otherwise transaction will be declined.
 Onus and liability of validating the transaction is with acquirer PSP. 34
Case 2 : 3 Party Merchant Transaction - Customer & Merchant
with Same PSP and PSP SDK embedded into Merchant App
 PSP SDK = Merchant App embeds PSP SDK
 PSP 1/2 APP = Other PSP Apps installed on Customer Mobile Phone

Issuer Bank
In this scenario when the merchant raises an intent, all the UPI PSP App on the customers phone are shown. The
customer however selects his PSP App which is the same as that of merchant.

Similar to the previous case, Now the Virtual addresses of both the merchant and customer are available with 4
3
the PSP . The financial addresses underlying these virtual addresses flow to UPI.

7
Merchant/Customer PSP UPI
Amt, Merchant ID
Reference ID,

1 8
5
6

PSP SDK PSP 1 App

Merchant PSP 2 App


Acquirer Bank

Customer
Mobile
Registered for UPI
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Case 4: 4 Party Merchant Transaction – Collect call based on
Virtual address
 Merchant = Customer initiates Txn by using Virtual Customer enters the PIN
Address
Issuer Bank

Collect by UPI – through virtual address. Virtual address


of customer flows to UPI through merchant PSP for 6 5
resolution of address and payment authorisation.

2 3
Payee PSP
9
UPI 4
Payer PSP
Merchant PSP
Reference ID, Amt,

UPI Customer PSP


Merchant ID

1 10

8 7

Merchant
Mobile App / Web Application
Acquirer Bank

Customer
Registered for UPI 38
Perceived Risks & Mitigation
Sr. Perceived Risks Risk Mitigation
1 Payment Service Provider as The Payment Service provider is proposed to be an entity which is authorized by the RBI. In this context the PSP in the UPI
an entity would be either a Bank or a Prepaid Payment Instrument Issuer (PPI) authorized by the RBI.
2 Customer registration on The customer will be send an OTP by the PSP while registering the customer to ascertain the veracity of the customer
PSPP
3 PSP Application security The PSP application shall be certified by NPCI and the NPCI Utility / Libraries embedded in the application for handling
sensitive data such as Debit Card No; Expiry date; MPIN etc.
4 Transaction Level Security 1. Transaction is secured with the Authorization which is split between the PSP & Issuing Bank. PSP does the device
fingerprinting of the mobile device where the hard bound Mobile number becomes the first factor.
2. Customer enters the MPIN or the Bio-metrics as the 2nd factor of authorization for the financial transaction
5 Security while handling the The MPIN is always entered by the customer on the NPCI Utility (which is embedded into the Parent PSP APP while
MPIN certification) which is invoked while entering the MPIN. The MPIN traverses through the secure channel from UPI to the
Issuing bank basis the PKI encryption where the PIN is encrypted through the Public key at the UPI and the Issuing bank
decrypts at its end using its Private key
6 Settlement Risk The settlement of the UPI transactions shall be done under the respective products only and hence there is no incremental
settlement related risk perceived in the process
7 Unsolicited Pull requests to The customer always enters the MPIN and authorizes the transactions before the debit is processed to the account and
the customer hence the end customer is in complete control of the transaction
Merchants/
Third Party

Meeting all the payment needs with

Banks/ PSP UNIFIED PAYMENT INTERFACE


 Online
 In-App
 In-Store
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Where Shall the payments likely
come from?
Real-time P2P – Already significant
Growth – Through Merchant segment

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WEB - eCommerce

Total e-Tail Total Internet users(2015): 36 Cr


shoppers are Total e-Tail Shoppers(2015): 3.9 Cr
3.9 Cr. (11% COD Payers: 2.3 Cr
22.3 Cr buyers*

of 36Cr.) Debit Card Payers: 0.50 Cr


Net Banking Payers: 0.35 Cr Modes of payments used in E-Commerce in India
Others: 0.75 Cr
Total Active Wallet Users: 10 Cr

82% of total E-Commerce E-Wallets can be loaded with UPI


payments can be catered by UPI
Source: Deloitte research report, April 2016;
The Hindu, March 2016
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Includes only B2C etail excluding online travel and classifieds *Assumption for 36% of 62 Crore Internet users in 2020
Modes of Payments
Application Web In-Store

Stand alone Application


(Including existing bank E-Commerce Retail Chains
App)

Augmented Service Service Stops


(UBER-PayTm) (Restaurants, Saloon,
workshops)
Online Payment UPI on Delivery
(Collect initiated (Proximity
Complex Augmented
Service on Web using VPA) Push/Pull)
Mom & Pop Stores
(Zomato-Uber-PayTm)

*Pre-Authorized Low
Value Transactions

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* Signifies futuristic
How’s the Ecosystem looking
like?
Its looking pretty Good…..and growing

50
And How are we gonna be doing
it?
Use Cases / Use Cases / Use Cases & More Use Cases
We’re gonna be thinking with the Banks…..!

52
eCommerce/In-APP made FRICTIONLESS with
UPI Cart to Checkout in
less than 5 Seconds

UPI to simplify entire E-com and


M-com space and provide users
with more secure and seamless A Seamless
experience Way to PAY
A Secure Payment Request
#Core Aspect of Our Growth Story
on your Handset 53
UPI-on-Delivery (Go cashless with COD)

Package received Scanning of QR will


at Home result in invoking of
available UPI PSP
apps on customer
device

Customer verifies Delivery boy receives


the transaction the confirmation of
and authenticates the payment 54
Core Driver for Exponential Growth of UPI
• Aggregators like Paytm, Mobikwik, Freecharge, Citrus, Oxigen, etc.
are providing API’s/ Web plugins/ Mobile SDK to merchants for
integrating their portal or retail payment system to accept payments.
• These transactions form a major chunk in M-Commerce industry.
• Industry has also witnessed strategic tie-ups like Uber-Paytm,
Zoomcar- Citrus, Bookmyshow- Mobikwik, etc. which enabled
customers to pay seamlessly resulting in a significant rise in mobile
based payments.

• To cater this segment PSP banks will be required to share UPI


based Plugin, Mobile SDK and API’s to enable their merchants
perform UPI transactions.
• Banks can help their merchants in setting up UPI payment
mode in the merchant’s website and application.

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Retail Chains – NFC/QR/BLE*/UHF** enabled

*Bluetooth Low Energy


**Ultra High Frequency
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In-Store Payment Modes – Service Stops
• For Enhanced customer experience, service providers like
Restaurants, Saloon, Spa, motor service centres are providing
various options to customers on a hand held device with
custom interface.
• These merchants are tying up with aggregators like Paytm,
PayPal for custom payment API’s.
• With UPI PSP bank API’s available to these merchants,
customers will be directly paying into merchant’s account in real
time.

upi://pay?pa=zeeshan@npci&pn=Zeeshan%Khan&mc=0000&tid=cxnkjcnkjdfdvjndkjfvn&tr=4894398cndhcd23&tn=Pay%t
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o%rohit%stores&am=1010&cu=INR&refUrl=https://rohit.com/orderid=9298yw89e8973e87389e78923ue892
Offline Payment Modes – Service Stops

Starbucks In-App Pay by UPI Payment by Confirm


Menu Scanning QR Code Payment

CUSTOMER’S Confirmation on
MERCHANT’S DEVICE
HANDSET Merchant’s Device
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Mom & Pop Stores
 Thought Process –
Low income merchants who lack in acquiring
infrastructure can use UPI for receiving payments from
customers.

 Key Requirement –
This scenario will require Creation of separate MCC for
such merchants or usage of a reserved MCC. These
merchants will be classified under a low gross income
group. Classification of merchants as such will be the
responsibility of Acquiring PSP.

 Approach –
Such transactions need to be subjected to a Lesser
/differential pricing. Approval from Steering Committee will
be required.

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UPI – Aiding Financial Inclusion

• The payments under UPI can be both sender (payer) and


receiver (payee) initiated and is carried out in a secure,
convenient, and integrated fashion, thereby enabling
payments across the country including the small value
Financial payments.
• The small time merchants without the POS infrastructure
Inclusion will also be included through the UPI initiative for small
value transaction payments.
• The Biometrics option for the 2nd factor is also conducive
to the rural segment where the other factors may not
immediately be in vogue
Why UPI?
• No deemed approval, either fail or success.
• Multiple ways to pay with Single Payment Identifier.
• Can initiate anytime (24 X 7).
• Choice of Mobile Application to the customer
• (One App for one or multiple bank accounts).
• P2P Pull.
• Seamless merchant payment collection.
• Customer enters the PIN in his/her personal device.
• In-App Payments.
• Payments using QR code/Blue tooth/Voice Technology/NFC etc.

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Why UPI?

GLOBAL SECURITY CONVENIENCE NEXT GEN

Available on all
More secure way to More than 700
android One App for all
transact on mobile Million smartphones
phones(most transaction needs.
platform. users by 2020.
popular mobile OS).
*To be launched in IOS soon.

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Why UPI – Self Sustained Model
Download Register Transaction

For P2P Merchant


For
Mobile
App
Banking

PAY COLLECT PUSH PULL

PROXIMITY REMOTE REMOTE

1) In Store 2) In App
3) QR Code 4) Web-Collect
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Benchmark…..?
No Parallel here, in the country !

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USP of UPI

• Apple Pay is available only for IOS users, Local Authentication, token auth
through the Issuer, Cards only, NFC/In-App
• Samsung Pay is available only on selected devices across United States &
Korea only, high end devices, token auth through issuer, Still dependent on
POS
• Android Pay is limited to android platform, NFC Capability / In-App,
Download the Android pay from Google store

• UPI is universal to all platforms and devices.

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UPI vs Cards vs Wallets
• Unlike Wallets wherein you have to pre load , For Debit and
Credit card transaction, physical swiping or card details need
to be fed in for online transactions, UPI will facilitate through
simple email address.
• UPI will act as enabler to wallets and can be used to fund the
wallet. UPI has still not got wallet as the same is designed for
Banks now and also wallet offer facilities beyond money
transfer
• Difference in KYC Norms for UPI and Wallet.
• UPI-Payout limit Rs 100,000 vs Wallet Payout limit Rs 10,000.
Security

• UPI has two factor authentication Mechanism. The mobile number


provides 1st level authentication and Mobile Pin provides 2nd level
authentication
• The UPI works on smart phones , hence no need of swiping card on
external devices such as POS etc, thus reduces the security hassles.
• No need of sharing card details on any Website.
Security features
 UPI Solution provides strong end-to-end security and data protection. The key Security
features of the Unified Payments Interface are:

 Device Fingerprinting during the registration process

 Credential Capture through NPCI Common Library

 Credentials encrypted by using RSA 2048 Asymmetric Encryption

 The decryption/encryption at NPCI will be performed through HSM

 Message communication between PSPs and UPI over HTTPS

 All messages are digital signed using SHA2 with RSA.


Security features
 Message Layer Data Integrity
 Message communication between PSPs and UPI will be in XML format over HTTPS
and all the messages will be digitally signed.
 Private Data (Account / Card number) Handling
 Private data in the transaction message will be over HTTPS on network, Which will
be encrypted before storing in DB.
 Database Tamper Proofing
 Concatenated all columns of the row to create a single string and generate MD5
checksum
 In case of mismatch in the checksum , the process gets failed & an high level alert
must be generated.
 IP Whitelisting
 IPs for PSPs and other systems will be whitelisted at the firewall level in order to
block messages from all non-authenticated sources.
NPCI Common Library
 NPCI common library will be distributed to PSP’s for all the three major mobile operating
systems viz. Android, iOS & Windows.

 Common library has the following security features:


 Capture the credentials securely
 Embedding Device and Transaction related data as salt into the Credential block for each
Transaction to
 Prevent the Acquiring PSP to replay the Credential block
 Ensure actual device finger print is sent to NPCI for every transaction
 Ensure NPCI Common Library is used to Secure Credential capture

 To encrypt the sensitive data (credentials like OTP, MPIN, and biometric data) using RSA 2048
public key encryption.

 Digital Signature verification of xml payload of public keys before performing the credential
capture.
•Frequently Asked Questions
FAQ
• How is UPI different from IMPS?
• UPI is providing additional benefits to IMPS in the following ways:
• Provides for a P2P Pull functionality
• Simplifies Merchant Payments
• Single APP for money transfer
• 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 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.
• Does customer need to have a bank account or this can be linked to a card or wallet?
• No, customer cannot link a wallet to UPI, only bank accounts can be added.
• Can I use more than one UPI application on the same mobile if they are linked to different bank accounts?
• Yes, one can use more than one UPI application on the same mobile and link both same as well as different
accounts.
• Does the beneficiary also have to register for UPI for receiving funds?
• In case of Virtual ID transaction, the beneficiary needs to have a Virtual ID and in turn be registered with UPI
but in case of Account No+IFSC, the beneficiary need not be registered for UPI.
FAQ

• How is UPI different from IMPS?


• UPI is providing additional benefits to IMPS in the following ways:
• Provides for a P2P Pull functionality
• Simplifies Merchant Payments
• Single APP for money transfer
• 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 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.
• Does customer need to have a bank account or this can be linked to a card or wallet?
• No, customer cannot link a wallet to UPI, only bank accounts can be added.
• Can I use more than one UPI application on the same mobile if they are linked to different bank accounts?
• Yes, one can use more than one UPI application on the same mobile and link both same as well as different
accounts.
• Does the beneficiary also have to register for UPI for receiving funds?
• In case of Virtual ID transaction, the beneficiary needs to have a Virtual ID and in turn be registered with UPI
but in case of Account No+IFSC, the beneficiary need not be registered for UPI.
FAQ

• What is the limit of fund transfer using UPI?


• At present, the upper limit per UPI transaction is Rs. 1 Lakh.
• If I change my UPI app will I be required to register again or I can carry the same virtual
address?
• In case of change in UPI App, a person needs to re-register and it depends on the PSP
whether same virtual ID can be used with necessary checks they can establish.
• What happens if I forget my pin?
• In case someone forgets the MPIN, he needs to re-generate new PIN.
• Will I be able to use UPI across all Mobile platforms?
• As of now, UPI is only available for Android.
• What is the timeline to approve a collect request by a payer?
• the timeline to approve a collect request needs to be defined by the requestor.
• In case my mobile is used by another person, will there be any security breach?
• In any transaction through UPI, MPIN would be required which needs to be fed through
the mobile at the time of any transaction making it safe and secured.