How to set up UPI account for digital payments
Are you new to UPI account? Here’s what you need to do to set up your UPI account.
Unified Payment Interface, commonly known as UPI, is a banking feature that allows users to transfer money from one account to another using their smartphones seamlessly. This method is not only safe and fast but also hassle free. And like net banking, it's available 24x7.
One of the biggest benefits of making payments through UPI is that the users don't need to store money in mobile wallets. The transfer can be done directly from one bank account to another. There are a variety of apps that allow people to utilize the facility of transferring money through UPI. There are banks which have their own UPI apps. Apps like PayTm, BHIM, Phone Pe, Google Pay also use UPI to transfer money.
Another benefit of using a UPI account is that you can not only transfer money, but can also pay for utility bills, book movie tickets and cab services using this payment method.
In order to set up a UPI account, you should have at least one bank account that is linked to your mobile phone, an active internet connection and a debit card.
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Once you have all these basic requisites in place, all you need to do to create a UPI account is follow these steps:
Step 1: Install an app, like BHIM or Google Pay, that supports UPI payments.
Step 2: You will be asked to choose the language that you prefer. Select the language of your choice.
Step 3: Now enter the phone number that is synced with your bank account.
Step 4: Next, enter the email ID registered with the bank account.
Step 5: Now you will get an OTP to verify that will help you verify your phone number.
Step 6: On entering the OTP, you will see a list of banks on your screen. Here you can choose the name of your bank where you have an account and proceed after the verification is done.
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Once you have created the account, you can set up a UPI PIN to access the app. In order to set up a UPI PIN you will need to enter the last digits and the expiry date of your debit card after which you will be allowed to set up a 4 or 6 digit UPI PIN depending on your bank's policy.
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