Mumbai: The Unified Payment Interface (UPI) is the leading digital transaction platform in India. It is widely used for bill payments, shopping, and other transactions. Its usage surged even further in August 2024, with 14.96 billion transactions amounting to Rs 20.61 lakh crore, marking a significant 41 percent increase from the previous year.
UPI v need a smartphone, a SIM card linked to a bank account, an internet connection, and the UPI app. Additionally, NPCI has introduced a new feature called UPI Number which enhances security.
A UPI Number is a bank-verified phone number identifier for a UPI ID. It enables users to receive money from others, regardless of the app they are using. Users can associate up to 3 UPI numbers with a UPI ID, including their phone number or any 8–10 digit numeric ID of their choice.
A step-by-step guide on how to set up UPI Number
On Google Pay:
1. Click on your profile picture at the top right.
2. Under “Payment Methods,” choose the bank account for which you wish to create a UPI Number.
3. Navigate to the “Manage UPI Numbers” section.
4. Select your preferred UPI number and click on ‘Continue’ to save it.
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On Phone Pe:
1. Tap your profile picture on the PhonePe app home screen.
2. Go to UPI Settings under the Payment Management section.
3. Select UPI Number.
4. Choose the bank account for which you want to set an 8 or 9-digit UPI number and tap Add.
5. Enter a unique 8 or 9-digit UPI number. Note: The do’s and don’ts for creating UPI numbers will be displayed.
6. Tap Verify.
7. If the UPI number is available, agree to the terms and conditions, and tap Confirm & Create
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