In the digital payments segment, India leads the majority of countries. This expansion has been made possible through UPI, or Unified Payments Interface. It is often far more convenient than paying with cash.
What is UPI and How does it work?
UPI is an acronym for Unified Payment Interface (UPI). It allows money to be transferred immediately from one bank account to another using a mobile phone. Payments may only be done on mobile devices using the app. 24 x7 UPI Money transfers are available on the go.
You must have a bank account with a member bank to use UPI, which means your bank must enable you to use the service. State Bank of India (SBI), HDFC Bank, and ICICI Bank are among the member banks.
The list of member banks can be found here.
After you’ve verified whether your bank accepts UPI payments, you’ll need to download a UPI-compatible app to your smartphone.
BHIM, which is created by NPCI, is one of the most widely used applications for UPI payments, although there are also some private companies such as Paytm, PhonePe, Google Pay, Amazon Pay, and many others.
Remember that for verification purposes, your mobile number needs to be linked to your bank account. Click here to see the complete list of UPI apps.
How to set up UPI on BHIM App?
After you’ve downloaded the UPI app of your choice, you’ll need to select a bank from the list of options. Your bank will notify you of a one-time password (OTP) to confirm that it is your bank account.
Your virtual payment address (VPA) will be generated after the OTP has been verified.
Here’s a way to set up a UPI account using the BHIM app by following these below steps:
- Head over to the Google Play Store app on your android phone or your Apple Store on your iOS phone.
- Search for the BHIM app & download it.
- Launch the app, once downloaded and installed.
- Select the language of your choice.
- Choose the SIM that has your phone number registered to your bank account.
- Create a four-digit password for logging in. This password will be used to use the app.
- Choose and connect your bank account.
- Set your UPI PIN by entering your debit card’s last six digits and expiry date.
Your account has now been registered, and you can send or request money to be transferred to it. Note that you can only link your bank account to UPI, not your mobile wallet. UPI allows you to link multiple bank accounts.
How to use UPI to transfer money?
The virtual payment address (VPA) of the receiver, account number, and IFSC code or QR code are the three methods for transferring money via UPI.
What is the maximum limit on the transfer of money using UPI?
The current upper limit per UPI transaction is Rs 1 Lakh per account per day, according to the NPCI website. Different banks may have their own sub-limits under this upper limit, so verify with the bank.
You can even make UPI payments without the internet or any app.
To make a UPI payment, you’ll need an active internet connection. But consider yourself in a distant location with no access to the internet and no cash to make a payment. Sometimes you encounter problems in making UPI payments owing to poor internet, which disrupts the procedure.
In this case, you can still make the payment with only the bare minimum of network coverage, by using a USSD code on your phone, you can access UPI in offline mode.
The *99# service, for instance, was made available to all mobile phone users, regardless of model and brands, and it works on both smartphones and feature phones. The phone number should also be linked to your bank account to make UPI payments, which I guess you’d have known.
This service makes little sense for smartphone users, as they can use UPI apps like PhonePe, Google Pay, and others. Feature phone users, on the other hand, can use UPI by dialing the *99# USSD code. But this feature can be handy for smartphone users who are having trouble connecting to the internet or have no internet access.
How To Make Payments Using UPI Without Internet?
Follow the steps underneath to make UPI payments on feature phones or smartphones.
- Head to the calling app and bring on the dialer on your phone.
- Enter a USSD code *99# and dial it, by tapping the call button.
- You’ll be welcomed with a list of options, but as we want to send money, we’ll go for the first option Send Money, so type number 1 and click send.
- Choose the information you have from the payment receiver, like mobile number or UPI ID or IFSC Code or Saved Beneficiary, Type that number and tap on send. For example, we have the UPI merchant’s mobile number then we’ll type 1 and click send.
- Next, we’ll enter the mobile number of the merchant that is linked to the merchant’s UPI account and tap on send.
- Now, enter the amount and press send.
- Enter the payment’s remark.
- Finally, type in your UPI pin to complete the transaction.
Hopefully, after this, your UPI transaction will be completed even without using the internet connection.
How to disable UPI using *99#
However, the UPI USSD code can also be disabled. Follow the below steps to do so:
- Head to the calling app and bring on the dialer on your phone.
- Enter a USSD code *99# and dial it, by tapping the call button
- You’ll be welcomed with a list of options.
- Choose option 4 from the list, which is My Profile.
- Next, type number 7 and click send, which will de-register from the UPI using the USSD code for feature UPI payments
- Then, enter 1, to confirm, that you want to de-register from the UPI.
How to transfer money online without UPI?
If you don’t want to use UPI for money transactions for some reason, then you can use alternative options as well.
Mobile banking, internet banking, credit cards, etc payment methods are available. You may use any of them to send money internet without having to use UPI. These payment options don’t require UPI PIN or debit card.
