Today, whether you are buying something online, paying your electricity bills, or simply sending cash to someone, the first thing that comes to your mind, is the UPI app. In Q1 of 2022, India recorded a total of 9.36 billion transactions using UPI apps which amounted to approximately, INR 10.25 trillion. Today more than 40 percent of Indians are using UPI apps for making daily transactions. Thus, forgetting your UPI pin might stop you from making many crucial transactions. We will show you how to change your UPI Pin but first let us learn more about it.
What is UPI Pin?
UPI pin is a security key that you must create the first time you join your bank to UPI. You must enter your UPI pin as the password to confirm any payment you want to make to the associated bank. When a user registers for UPI using a UPI payment service like Paytm, Google Pay, PhonePe, etc. they obtain a 4 or 6 digit number known as a UPI pin, or Unified Payments Interface Personal Identification Number. To prevent unauthorized transactions and fraudulent payments, the UPI PIN, which serves as your password for all UPI transactions, must never be disclosed to anybody. The holder of a bank account creates the UPI pin, which is particular to each account. It is a safety precaution put in place so that only the account owner may approve transactions.
How to Change UPI Pin in Google Pay?
In 2018, Google launched and re-branded the online payment application called Tez as Google Pay. In 2018, Google Pay replaced Android Pay and Google Wallet. It is a digital wallet that can be used to make transactions online to one’s bank account directly. Google Pay operates without transmitting to merchants your real card details. Google has expanded the app’s features over time. You can pay various bills. You can use and save gift cards, transport cards and membership cards. They also give special offers for particular products and services.
Steps to Change and Reset UPI Pin
Here are the steps that you need to follow to learn how to change your UPI pin in Google Pay:
Open Google Pay App.
In the top-right corner, tap on your profile photo.
In the section labeled Set up payment methods tap Bank account.
Choose the bank account that has UPI registration.
Tap on Change UPI PIN option which can be found by tapping the triple-dot menu icon in the upper-right area.
On the following page, enter your previous UPI pin.
Next, type in a the new UPI pin of four digits. Enter it once more to confirm. In case you have forgotten your UPI pin, then you can simply reset the pin using the Google pay app. Repeat the steps 1 to 4 mentioned above and then follow these steps:
Simply tap on Forget UPI PIN.
Next, type in your Debit Card’s last six numbers and its expiration date.
After entering the OTP that you will get through SMS, enter a new UPI pin. Also Read: What are Paytm Credit Card charges?
How to Change UPI Pin in Paytm?
Paytm is one of the largest financial services companies in India, which offers a wide variety of online payment and financial solutions to consumers, online merchants, and service partners. Vijay Shekhar Sharma launched One97 Communications Limited, which owns Paytm, in 2010. Since its launch in 2014, Paytm Wallet has been the most popular payment app in the nation. The Indian economy was introduced to digital banking through Paytm Wallet. Customers and businesses can use Paytm as a payment gateway to make secure payments using credit cards, bank accounts, and other e-wallets. Customers seamlessly make purchases on various online and offline stores by immediately linking their bank accounts and debit cards or credit cards to their Paytm accounts.
Steps to Change and Reset UPI Pin
There can several instances where you might feel like changing the UPI PIN on your Paytm app. These are the steps that you need to follow to do that:
Open the Paytm application.
Tap the profile symbol in the top-left area of the screen.
Tap on Payment Settings.
Tap on UPI & Linked Bank Accounts option.
Tap on Change PIN next to the bank account you’ve linked.
Tap on I remember my old UPI PIN option.
Type in the previous 4-digit UPI pin before entering the new one.
Enter the new PIN again and tap on Confirm. For those who have forgotten the UPI pin and want to reset a new UPI pin, repeat the steps 1 to 5 and then follow these steps:
Enter the expiration date and the last 6 digits of the Debit Card number.
Next, enter the OTP that you’ll receive through SMS.
Enter a new UPI PIN twice and tap on the check mark present at bottom right to confirm.
Steps to Change and Reset UPI Pin
Locate More bank account option by swiping down and tap on it.
Tap on Change UPI PIN option.
Type a brand-new 4-digit UPI pin twice and tap on the check mark present at bottom right to confirm.
After this you will get confirmation for the UPI change.
Tap on Forget UPI PIN option.
Enter the expiration date and the last six digits of the Debit Card number.
After that, tap on Set your UPI PIN.
Type a new 4-digit UPI pin twice and tap on the check mark present at bottom right to confirm.
What is UPI?
The full form of UPI is the Unified Payments Interface. India’s launch of the Unified Payment Interface was its first significant move toward a cashless society. UPI is a system that powers many bank accounts into a singular mobile application, unifying several banking services, smooth fund routing, and merchant payments into one interface, according to the National Payments Corporation of India.
What is UPI ID?
A UPI ID is a UPI user’s virtual payment address (VPA), which aids banks in keeping track of a user’s account. It is not dependent on a user’s bank account number or other information. Its basic function is to identify a person on UPI. Each user must establish a UPI ID to utilize UPI apps to send and receive money and access its features. However there are apps like Paytm where the UPI ID of the recipient is not required for a user to complete a transaction. Also Read: 7 Best UPI Payment Apps in India
Safety Tips to Follow When Using UPI Apps
Lock Your Phone Up: It is imperative to have a screen lock on the smartphone or make sure it has password security, even if it’s only a PIN number or pattern. It will ensure that your phone is not accessed easily. Avoid Using Multiple Applications: Even if you follow all the UPI safety advice, it’s still not safe to use too many payment applications. It would be difficult for you to handle the payments and accounts if you use a lot of applications. Utilizing no more than two UPI payment systems will help to achieve the highest level of transaction security. Do Not Share UPI PIN: The UPI pin is a crucial component of every transaction, thus maintaining its confidentiality should be a top concern. It is not a good idea to write down the pin on any paper or to store it as a phone contact. Simply commit the pin to memory and keep it private. Furthermore, maintain your confidentiality while making a payment by not allowing anyone to see your pin. Disable Screen Recording and Sharing: Screen-sharing applications shouldn’t be allowed access to the UPI applications as it might lead to data breaches, endangering your sensitive financial data such as UPI pin and one-time passwords. One can go into the settings and disable access to such screen-sharing apps.
