Join the payment revolution - create and use your UPI payment ID: - www.deekpay.com

In the 22nd year of the 21st century, we hold in our hands the whole world connected through the mobile Internet. The growth of the internet revolution has profoundly changed the way we pay. With just an ID, a code and a click, you can buy everything you want in an instant! No, this is not internet banking or any other digital payment service. Yes, we are talking about UPI payments.

In 2016, the National Payments Corporation of India (NPCI) developed and launched a real-time digital payment system under the Digital India movement. Named Unified Payment Interface (UPI), it is an online payment system that enables real-time transfer of funds between two bank accounts. It provides a payment service that does not require face-to-face contact and does not require the use of a bank card.

In the first 37 months since its launch in 2016, this mobile-only payment system has helped in completing a total of Rs. 17.29 trillion (about $230 billion) in transactions in India. In fact, by 2020, India has become the world's largest real-time payments market with 25.5 billion transactions annually, surpassing China and the US.

The UPI app's clean interface and seamless transactions make it an easy-to-use digital payment platform for everyone. With features like instant cashback, referral bonuses, lucky draws, and other attractive transaction rewards, more and more people are turning to UPI payments instead of using cash or bank cards.

If you feel like you're missing out on all the benefits of UPI payments, scroll down to learn how to create a UPI ID to take advantage of these and other benefits.

But first.

What is a UPI ID or UPI Payment ID?

It is an online payment system that allows you to virtually transfer money from one bank to another. It is an Aadhaar based payment system (AEPS).

Traditionally, if you transfer money through your bank, you need to provide details such as the name of the bank, bank account number, branch address and the beneficiary's IFSC code. You need to enter this information every time you transfer money. The UPI ID or Virtual Payment Address (VPA) simplifies this process.

As the name suggests, your virtual payment address is a unique ID that allows you to send or receive funds from your bank account via UPI without sharing each other's account numbers or other details.

Once associated with a UPI-supported bank, you can create a UPI ID on any UPI payment app (e.g. BHIM, etc.).

How do you create your UPI Payment ID or VPA?

There are many Unified Payment Interface payment applications available in the market. However, the steps to create UPI ID are almost the same across these apps. Regardless of which app you use, you will first need to register your bank on the app to create a UPI ID.You can do this by following these steps:

4 Simple Steps to Create Your UPI ID in a Minute

Download the UPI Digital Payments app you want and when you open it you will be prompted to set a four-digit app password.

After that, the app will ask you to verify your mobile phone number. If you are using a dual SIM mobile phone, select the number associated with your bank. The app will automatically verify the number through OTP.

After verification, the app will ask you to select your bank and automatically receive the required details such as bank name, IFSC code and account number. If you have added more than one account on the same mobile number, you can select the one you want.

Finally, the app displays your UPI ID.

That's it! You have successfully created a UPI ID or VPA!

Registration of UPI ID through *99# service

Alternatively, you can register for a UPI ID through the *99# service.Here are the steps:

Dial "*99#" from your mobile phone and select your preferred language.

Enter the first four digits of your bank name or IFSC code.

Select your bank account and enter the last six digits of your debit card and the expiry date.

Set and enter your UPI PIN or MPin.

Confirm your UPI PIN or MPin and that's it, you have your UPI ID!

How to find your UPI Payment ID in the banking app?

You can find your UPI ID or VPA within the UPI app.

We have discussed the two most commonly used applications. The process may be almost the same for all applications, with little or no difference.

For Google Pay users:

Open the Google Pay app and click on your photo in the top right corner. Click on "Bank Accounts" and select the bank account associated with your UPI ID. You will find the associated UPI ID and its QR code under "UPI IDs".

For BHIM application users:

Log in using the app password. Click on "Profile" from the drop down menu and you will find your UPI ID and its QR code.

How do you change your UPI Payment ID?

If you are not satisfied with the UPI address, you can choose to change it. Here are the steps to do so:

For BHIM application users:

Open the BHIM app and go to Profile. Click on "Settings" and you will see the option to edit your UPI ID. Make the necessary changes in your ID and click on Confirm.

For Google Pay users:

Go to Google Pay and click on your profile picture. Under "Payment Methods" click on "Bank Accounts" and select the bank account where you want to edit your UPI ID. Click on the UPI ID associated with your preferred bank account and click on Manage UPI IDs. click on the "+" icon next to the UPI ID you want to change.

Why you should use UPI payments and their benefits

Here are some of the features of UPI payments that make them one of the best payment options available today:

Single click payments. Transfer money in real time 24 hours x 365 days via any mobile device. No minimum transaction limit. No transaction fees. One mobile app to manage multiple bank accounts. No need to enter multiple bank details for transactions. Complaint and enquiry resolution through mobile app. Option to share transactions and bill receipts. Enhanced reliability and security due to RBI regulation. Attractive rewards for transactions on select apps.

reach a verdict

Today, UPI payment systems lead non-cash payment systems in India, surpassing internet banking and debit and credit cards. Individuals, merchants, retailers and manufacturers are using these payment methods. In fact, as of May 2021, the platform has 100 million active users in India.

With this digital payments revolution, businesses are finding it easier to send and receive real-time payments, saving them the hassle of having to go to the bank or make a cash payment, as well as providing a more convenient payment process for their customers.

With over 100 payment options on PayU, including UPI, your customers can choose from a wide range of payment options at any time, anywhere!