Google Pay, PhonePe, Paytm UPI PIN: Amid the Covid-19 lockdown, the Unified Payments Interface (UPI)-based transactions have been decreasing continuously but more and more people are searching for how to pay the electricity bill and house tax online using UPI.
The service was started by the National Payment Corporations of India (NPCI) on the pilot with 21 member banks on April 11, 2016. Banks started to upload their UPI-enabled apps on app stores from August 2016 onwards giving customers the option to transfer money immediately through mobile device round the clock.
Users can select to either transfer using the mobile number (in case both are using the same app), UPI ID, or bank account details like account number and IFSC code. The payment service gives the option to transact using UPI PIN, which is like an ATM PIN for the digital payments.
During this lockdown, new scams are emerging every other day. We need to be extra careful and as a precautionary measure change our UPI PIN time to time just like we do with ATM PIN.
How to change UPI PIN in Google Pay, PhonePe, Paytm
The process to change UPI PIN is the same across the UPI apps but the initial steps differ for each app. If you are a PhonePe user, follow the below steps:
*Tap on the hamburger menu icon at the top right corner of the screen
*Go to “Bank Accounts” section
*All your linked bank accounts will be visible here
*Select the account for which you want to change the UPI PIN
*You will see a “RESET” option to set a new UPI PIN for that particular bank account
*Tap on it and enter last six digits of your Debit/ATM card as well as the expiry date in the respective columns
*If your card does not have an expiry date, try entering 00/49
*You will receive an OTP from your bank. Enter the OTP and the new UPI PIN you want to set on the next screen
If you are a Google Pay user, you need to tap on your photo and tap on “Bank Account”. The rest of the procedure is the same as above. Just select your bank, tap three dots icons > More > Change UPI PIN. Now create a new UPI PIN. The similar procedure needs to be followed for BHIM, Paytm, and other applications.
How to pay using QR code
QR codes and UPI apps have made paying at shops convenient than before. You do not have to ask for UPI ID or mobile number but just open your UPI app, tap on the QR Code Scanner icon and scan the QR code at the shop you want to pay. Once the scanning is complete, the app shows you the details of the receiver and you just need to enter the amount you want to transfer followed by your UPI PIN to make the transaction.
How to recharge, pay bills online with UPI apps
The UPI apps in the country now showcase the recharge and bill payment options at the home screen. You just need to select recharge option followed by entering your mobile number, amount, and UPI PIN to recharge a phone or select electricity bill, water bill, house tax, etc followed by particular details, amount, and UPI PIN to complete the transaction.
UPI payments decreasing amid Covid-19 lockdown
As already mentioned, Unified Payments Interface (UPI)-based transactions in the country have been declining continuously amid the nationwide lockdown. The transactions slipped to 124.68 crores in March from 132.57 crores in February registering a decline of 6 per cent. In April, the UPI transaction went below 100 crore mark for the first time in seven months registering a fall of 20.8 per cent in volume.
However, the fall is not exclusive to UPI. National Payment Corporation of India (NPCI)’s IMPS (Immediate Payment Service) also slipped to 12.24 crores payments in April from the 21.68 crore payments of last month.