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FAQ on UPI

What exactly is e-RUPI?

e-RUPI is a one-time use digital solution to enable digital payments for a range of services such as COVID Vaccine, charitable contributions, corporate gift cards, and so on. FAQ (frequently asked question) on UPI (Unified Payments Interface).

 

Who is authorised to issue e-RUPI?

Only financial institutions authorised by the RBI to issue Prepaid Payment Instruments (PPI) and partaking as Payment Service Providers in the UPI ecosystem can give e-RUPI.

 

What is the max number for creating vouchers?

Each e-RUPI shall have an upper number of INR 10,000 or as described by the supervisory authority.

 

Is it possible to redeem e-RUPI for cash or cashback offers?

e-RUPI could be redeemed mainly for the procurement of goods and services from an assigned vendor with a legitimate Merchant Category Code, as described by the Issuer at the moment of e-RUPI issuing. The use of e-RUPI for cash out or cashback on redemption is not allowed.

 

How many vouchers can be given to a single user?

Up to ten e-RUPI vouchers could be decided to issue for a single programme on a single cellphone number / per distinctive Beneficiary; the necessity is customisable following the Scheme prerequisites.

 

What exactly is UPI?

The National Payments Corporation of India is an RBI-regulated entity, created the Unified Payments Interface. UPI is built on the IMPS infrastructure and enables you to immediately move funds between the bank accounts of any two parties.

 

What exactly is a UPI-PIN?

The PI-PIN UPI Personal Identification Number is a 4-6 digit passcode that you generate when you first register with this App. To authorise all financial transactions, you must enter this UPI-PIN. If you already have a UPI-PIN set up with other UPI Apps, you can use it with BHIM.

 

What if I type the incorrect UPI-PIN during a transaction?

The payment will fail if you enter the incorrect UPI PIN. If you repeatedly enter the incorrect UPI PIN, the bank may momentarily prohibit you from transferring cash using UPI from your account.

 

I chose a bank name to link with UPI, but it cannot locate my bank account.

In such a situation, please double-check that the cell number associated with your bank account matches the one authenticated in any UPI App. If this is not the same, the UPI platform will not retrieve your bank accounts.

 

How do I use UPI to pay an online merchant?

When you buy online, you can pay with UPI if it is displayed as a payment method. When you press that, you will be prompted to enter your Billing Address. You’ll receive a collect request on your BHIM app once you have entered the code. Fill your UPI-PIN here to finalise your payment.

 

Do money transfers via UPI take place only during banking hours?

All transactions are immediate and available 24 hours a day, seven days a week, irrespective of your bank’s operating hours.

 

I paid for my transaction but did not receive anything in return. Why is this the case?

When you finish a transfer of funds, the BHIM screen should show a success status, and you must get a Text message from your bank. It may take much longer in some cases due to provider issues. If you have not received your verification within 60 minutes, please feel free to contact your bank’s customer service. FAQ (frequently asked question) on UPI (Unified Payments Interface).

 

How do I access my transaction history?

To monitor all of your past and pending transactions, go to the Home Screen -> Transaction History.

 

What distinguishes UPI from IMPS?

UPI provides IMPS with additional benefits in the following ways:

1. Enables peer-to-peer pull functionality.
2. Makes Merchant Payments Easier
3. Single application for money transfer
4. Two-factor authentication with a single click.

 

Is it necessary for a customer to register before remitting funds via UPI?

Yes, before remitting funds via UPI, a customer must register with their PSP and link his or her accounts.

 

Is it necessary for the customer to register a beneficiary before transferring funds via UPI? What be information about the Beneficiary required?

No, registration of the Beneficiary is not needed for transferring money via UPI because the funds are assigned based on the Virtual ID or Account and IFSC or Aadhaar Number.

 

Is it necessary for the customer to have a bank account, or could this be linked to a card or wallet?

Previously, customers could only link bank accounts in UPI; now, customers can also link PPI Wallets.

 

What happens if I misplace my cell phone?

In the event of a smartphone loss, try blocking your mobile number so that no payment can be undertaken from the same mobile number, as an aspect of device monitoring. A UPI pin would be needed for any amount that is not to be shared with anyone.

 

Is it possible for me to link multiple bank accounts to the same domain name?

Yes, based on the features and functionality readily accessible by the corresponding PSPs, multiple bank accounts can also be linked to the same virtual address.

 

What are the various UPI channels for transferring funds?

The following are the various channels for transferring funds via UPI:

1. Send or Collect via Virtual ID
2. Account Number and IFSC
3. Aadhaar Number

 

What if my account is debited; however, the payment is unsuccessful?

UPI allows for real-time reversals of declines, with the funds instantly transferred back to the payer’s account. If it does not instantly overturn the amount, you should call your bank.

 

Can I demand a stop payment for funds transferred via UPI?

No

 

Where can I file a complaint regarding a UPI transaction?

You can also use the UPI App of the banking institutions to file a complaint or view the status of a UPI transaction.

 

What is the maximum amount of money that can be transferred using UPI?

At the moment, the maximum amount per UPI transaction is Rs.1 lakh.

 

Will I have to sign up again if I alter my UPI app, or can I use the same virtual address?

In the event of a change in the UPI App, a person must re-register, and a new VPA with the PSP’s handle must be created.

 

What happens if I happen to lose my pin?

If a user forgets his UPI pin, he must create a new one using his debit card information.

 

Would I be able to use UPI if I alter my sim card or mobile phone?

If the PSP’s sim or mobile or application changes, the user must re-register for UPI.

 

Will UPI be available on all digital devices?

UPI is accessible via the Android and iOS platforms.

 

What is the prescribed time frame for approving a payer’s collect request?

The requester must describe the timeframe for approving a collect request.

 

Would there be a security breach if another person used my phone?

The UPI pin will be necessary for any money transfer, which will have to be fed through the phone at the time of any payment, making it safe as possible.

 

What if I switch mobile carriers?

There is no issue at all. You can continue to use UPI apps as before.

 

Can you deduct payments from my account automatically?

No

 

How can I establish my UPI-PIN instantly with the bank?

Utilising your debit card information, you can establish your UPI pin on any PSP app. FAQ (frequently asked question) on UPI (Unified Payments Interface).