Mobile Banking India Personal Identification Number MPIN www.deekpay.com

What is an MPIN number?

The full name of MPIN is Mobile Banking Personal Identification Number of India, which is a 4 or 6-digit code required for authentication of mobile banking and payment applications.MPIN plays an important role in ensuring the security of financial transactions conducted through mobile devices.

To create and manage an MPIN, the user will need to register with a bank or financial institution that offers digital banking services (e.g., mobile money identifiers). The user will be asked to set up a personalised PIN during registration, which will be the individual's MPIN.

MPIN facilitates a variety of banking services such as fund transfers, bill payments and mobile wallet transactions. Whenever a user initiates a transaction via a mobile device, the system prompts for an MPIN to validate and authorise the transaction.

The meaning of MPIN

Digital payments in IndiaThe growing trend has significantly increased the rate of cybercrime. In order to ensure that mobile banking transactions are safe and secureNational Payments Corporation of India (NPCI) introduced MPIN to avoid network fraud.

The MPIN number is a unique 4-digit or 6-digit code used to authenticate financial transactions made through mobile banking apps.The value of the MPIN is that the user doesn't have to enter it every time they want to send or receive funds. IFSC(Indian Financial System Code) or other information.

Typically, the consumer uses the MPIN to log into the account on the mobile banking application and make transactions.The MPIN ensures that the original account holder is executing the transaction. Therefore, it is recommended that the MPIN not be shared with any third party.

The mobile application supports the use of the NEFT, andRTGS respond in singing IMPS tooUPI and other electronic means of making online payments. While some apps prompt the user to pay for UPI TradingCreate a separate PIN, but some apps allow the same MPIN to be used for transactions as if the user had logged into the mobile banking app. UPI payments.

As a result, MPIN can be used to validate not only every mobile banking transaction, but also UPI transactions.

Recommended Reading:National Payments Corporation of India NPCI

MPIN Number Example

An example of an MPIN number is 172362 or 923813, which can be used before completing a payment through a bank or payment application. This helps the application to verify the user's identity and account information.

MPIN in UPI

In UPI.UPI PIN and MPINs are often used interchangeably depending on the type of application, whether it is a mobile banking application or a specific UPI-enabled application. As a result, a user can use the same MPIN in a mobile banking application to validate a transaction as the MPIN in a UPI application.

During the setup of the UPI service, a UPI PIN or MPIN is required for linking a bank account; whenever a user transfers money through that particular UPI-enabled application, the user enters this PIN to authorise the transaction.

The following is broken down through an example for understanding:

Assume the user has an XYZ bank account. The user downloads their mobile banking app and sets the PIN to 123456 (MPIN)

Now let's assume that the user wants to execute a UPI transaction. For the same purpose, the user needs to download the UPI application and associate an XYZ bank account with it.

Here, the user can choose to use the same MPIN as set in the XYZ Bank Mobile Banking app to authenticate transactions on the UPI app. Otherwise, one can also choose to set a new UPI PIN to authenticate UPI transactions for the same bank account on the UPI app.

Recommended Reading:What is UPI?

How do I get an MPIN?

To use UPI through a mobile banking application or UPI-enabled application, the user first needs to download the application to the mobile device. Once downloaded, register on the app by entering personal information, bank details and other similar information requested by the app.

After completing the basic registration, the user will need to create a UPI PIN; simply follow the instructions on the UPI application screen to create a personal UPI PIN.

through the UPI application. Through online banking. Through bank branches. By ATM card. Via USSD code.

Difference between UPI PIN, ATM PIN and MPIN

Parameters MPINATM PINUPI PIN Purpose Authorisation Mobile Banking Transactions (NEFT, IMPS) Verification Debit Card Transactions (Withdrawal, POS) Verification of Transactions via UPI or Internet Banking Apps Code Length 4 to 6 digits 4 digits 4 to 6 digits PIN Setting via Banking Apps Follow Bank Instructions Reset/Change via UPI/Internet Banking Apps PIN via ATM, banking apps or going to the bank using internet banking or ATM using any UPI or internet banking apps using scenarios mobile banking transactions or banking apps ATM cash withdrawals or balance enquiries offline/online transactions and balance checks via UPI apps

concluding remarks

The MPIN is the password used to authenticate mobile banking transactions. Regularly updating and changing your MPIN will increase the security of your mobile banking operations.

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