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BHIM UPI

BHIM UPI is a service provided by a bank

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BHIM Unified Payments Interface (UPI)

  Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.

How is it unique?

  • Immediate money transfer through mobile device round the clock 24*7 and 365 days.
  • Single Click 2 Factor Authentication – Aligned with the Regulatory guidelines, yet provides for a very strong feature of seamless single click payment.
  • Virtual address of the customer for Pull & Push provides for incremental security with the customer not required to enter the details such as Card no, Account number; IFSC etc.
  • Bill Sharing with friends.
  • Best answer to Cash on Delivery hassle, running to an ATM or rendering exact amount.
  • Merchant Payment with Single Application or In-App Payments.
  • Utility Bill Payments, Over the Counter Payments, Barcode (Scan and Pay) based payments.
  • Donations, Collections, Disbursements Scalable.

UPI - Benefits to the Ecosystem participants

Benefits for end Customers

  • Round the clock availability
  • Single Application for accessing different bank accounts
  • Use of Virtual ID is more secure, no credential sharing
  • Single click authentication
  • Raise Complaint from Mobile App directly

Benefits for Merchants

  • Seamless fund collection from customers - single identifiers
  • No risk of storing customer’s virtual address like in Cards
  • Tap customers not having credit/debit cards
  • Suitable for e-Com & m-Com transaction
  • Resolves the COD collection problem
  • Single click 2FA facility to the customer - seamless Pull
  • In-App Payments (IAP

Registration in UPI enabled application

Steps for Registration

  • User downloads the UPI application from the App Store/Banks website
  • User creates his/her profile by entering details like name, virtual id (payment address), password etc.
  • Use of Virtual ID is more secure, no credential sharing
  • User goes to “Add/Link/Manage Bank Account” option and links the bank and account number with the virtual id

Generating UPI – PIN

  • User selects the bank account from which he/she wants to initiate the transaction
  • User clicks one of the option -
  • Change M-PIN
  • User receives OTP from the Issuer bank on his/her registered mobile number
  • User now enters last 6 digits of Debit card number and expiry date
  • User enters OTP and enters his preferred numeric UPI PIN( UPI PIN that he would like to set) and clicks on Submit
  • After clicking submit, customer gets notification (successful or decline)

Performing a UPI Transaction

PUSH – sending money using virtual address

  • User logs in to UPI application
  • After successful login, user selects the option of Send Money/Payment
  • User enters beneficiary’s/Payee virtual id, amount and selects account to be debited
  • User gets confirmation screen to review the payment details and clicks on Confirm
  • User now enters UPI PIN
  • User gets successful or failure message

PULL – Requesting money

  • User logs in to his bank’s UPI application
  • After successful login, user selects the option of collect money (request for payment)
  • User enters remitters/payers virtual id, amount and account to be credited
  • User gets confirmation screen to review the payment details and clicks on confirm
  • The payer will get the notification on his mobile for request money
  • Payer now clicks on the notification and opens his banks UPI app where he reviews payment request
  • Payer then decides to click on accept or decline
  • In case of accept payment, payer will enter UPI PINto authorize the transaction
  • Transaction complete, payer gets successful or decline transaction notification
  • Payee/requester gets notification and SMS from bank for credit of his bank account

Product

Financial Transactions

UPI supports the following financial transactions viz

  • Pay Request
  • A Pay Request is a transaction where the initiating customer is pushing funds to the intended beneficiary. Payment Addresses include Mobile Number & MMID, Account Number & IFSC and Virtual ID
  • Collect Request
  • A Collect Request is a transaction where the customer is pulling funds from the intended remitter by using Virtual ID.

Non-Financial Transactions

UPI will support following types of non-financial transactions on any PSP App viz.

  • Mobile Banking Registration*
  • Generate One Time Password (OTP)
  • Set/Change PIN
  • Check Transaction Status
  • Raise Dispute/Raise query

* Mobile Banking Registration is possible only if the mobile number (which is to be registered) is registered with the Issuer Bank for SMS Alerts/mobile alerts.
UPI can be accessed on all platforms viz. Android / iOS.


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