UPI stands for Unified Payments Interface. It is a real-time payment system developed by the National Payments Corporation of India (NPCI), enabling users to instantly transfer money between banks using a mobile device. UPI facilitates seamless peer-to-peer transactions, bill payments, and merchant payments, providing a secure and fast alternative to traditional banking methods.
Key Features and Highlights
| Category | Feature |
|---|---|
| Payment Features | QR-based payments |
| Send Money: To Contacts, Pay to Bank, Pay to Self | |
| Receive Money: Through collect requests | |
| Advanced UPI Features | Global UPI Activation: Enable international transactions |
| Foreign Inward Remittance: Receive money from abroad | |
| UPI LITE: Simplify small-value transactions | |
| UPI Number/Mapper: Create and manage unique UPI numbers | |
| UPI Autopay: Manage recurring payments and mandates | |
| Card and NFC Payments | Credit Card Bill Payments: Pay dues effortlessly |
| Link RuPay Credit Card: Integrate with UPI | |
| Tap & Pay: NFC-based contactless payments | |
| Recharge & Utilities | Utility Bills: Pay electricity, LPG, gas, donations, or credit card bills |
| Mobile/DTH/Cable TV Recharge: Recharge prepaid services | |
| FASTag Recharge: Top up your FASTag balance | |
| Safety and Convenience | Safe and Secure |
| 24/7 Availability | |
| Transaction Limit Setup | |
| Account Management | Set or reset UPI PIN |
| Organize your UPI profiles | |
| View Transaction History | |
| Dispute Management: Resolve transaction issues | |
| Manage Beneficiary: Add, edit, or delete beneficiaries | |
| Other Features | IPO Subscription: Apply for IPOs using your UPI ID |
Registration Process
| Step | Description |
|---|---|
| 1 | Download the app from Google Play/Apple Store. |
| 2 | Click ‘Register’ (for new users) or ‘Already Registered’ (for existing users). |
| 3 | Select your mobile number (for dual SIM users). |
| 4 | Confirm your mobile number. |
| 5 | Enter personal details (Name, Email) and set a Virtual Payment Address (VPA). |
| 6 | Link your bank account. |
| 7 | Set a 4-digit login PIN and answer a security question. |
| 8 | Login with your PIN and start using Bob iPay. |
UPI Transaction Limit
| Txn Category | Limit per txn | Limit per day | No. of txns per day |
|---|---|---|---|
| P2P / P2M | ₹1L | ₹1L | 20 |
| P2M (Specific MCC) | ₹2L | ₹2L | 20 |
| IPO & G-Sec | Not Applicable | ₹5L | Not Applicable |
| USSD (*99#) | ₹5K | ₹5K | 20 |
| Fund Transfer | ₹5K | ₹5K | 1 |
Notes:
- For P2P/P2PM/P2M (non-verified offline), the transaction limit is Rs 2,000 for Collect Request via “Share intent link & pay” and “QR Share & Pay”.
- Specific MCC categories are eligible for a higher transaction limit of Rs 2L.
Secure UPI Overview
Security Features
- Two-factor authentication for extra protection.
- First transaction limit: New users can transact up to Rs. 5,000 after setting/resetting UPI PIN.
- Device Binding: Enhanced security for devices.
- Transaction Limits: Set individual per transaction and daily limits for each linked account.
How to Block UPI Services Instantly
- Open the SMS app on your registered device.
- Type BOBUPIBLK in the message (not case sensitive).
- Send to 8422009988.
PIN Security
- You must set a 4-digit Login PIN and UPI PIN for transactions.
- Login PIN and UPI PIN will lock after 5 incorrect attempts.
- To reset PINs, use the Baroda UPI Mobile App.
- Change PIN regularly and never write it down.
How to change your UPI PIN, follow these steps:
- Open the UPI App: Launch your UPI-enabled app on your smartphone.
- Go to the Payment Settings:
- In Google Pay, tap on your profile icon and select Bank Accounts.
- In PhonePe, tap on the Profile icon and select Bank Accounts.
- In Paytm, tap on the Profile icon, then go to Bank Accounts.
- Select Bank Account: Choose the bank account linked with UPI for which you want to change the PIN.
- Tap on Change UPI PIN: You will see an option to Change UPI PIN. Click on it.
- Enter Old UPI PIN: You’ll be asked to enter the current (old) UPI PIN.
- Set a New UPI PIN: Enter a new 4-6 digit PIN that you wish to set. Confirm it by entering the same PIN again.
- Submit: After entering the new PIN, submit it to complete the process.
Using USSD (if no app is available):
- Dial
*99#on your phone. - Select the option for UPI PIN management (usually option 3 or 4).
- Follow the prompts to change your PIN, entering the required information and verifying with your bank.
Phishing Warning
- Be cautious of emails requesting personal info. Bank of Baroda will never ask for your PINs via email or call.
UPI complaint
A UPI complaint refers to any issue or problem faced by users while using the UPI for transactions. Common UPI complaints include:
- Transaction Failures
- Money Not Credited
- Technical Glitches
- Refund Delays
- Fraudulent Transactions
- Incorrect UPI ID or Details
- Linking Issues
To resolve UPI complaints, users can:
- If your mobile is stolen or used without permission, report it to Bank of Baroda immediately at 18005700 or upi.bcc@bankofbaroda.co.in.
- File complaints through the NPCI or relevant authorities.
Features for Merchants
Easy and Convenient Collection Channels for Merchants:
Types of Merchants in UPI:
- In-App Merchants: Merchants using the in-app payment system.
- Retail Merchants: Simple one-page form for easy setup.
- Corporate Merchants: Customized solutions for businesses.
Payment Solutions for Merchants:
- Web-Based: Online payment solutions for merchants.
- Mobile-Based: Payment solution through mobile apps.
- Offline Payment: For merchants without online infrastructure (e.g., website or mobile app).
- Retail Merchants: Payments through QR codes.
- Bulk Collect/QR Code Solution: For handling multiple transactions efficiently.
Additional Features:
- Merchant Discount Rate (MDR): Nil (no charges).
- User-Friendly Merchant Portal: Provides real-time MIS (Management Information System) and transaction status for easy reconciliation and reporting.
A UPI ID is a unique identifier used to send and receive money via the UPI payment system. It typically looks like an email address (e.g., name@upi), where the first part (before @upi) is a user-defined ID, often related to your name or mobile number, and the domain is fixed (@upi or the bank’s domain like @sbi).
For example:
john.doe@upi9876543210@sbi