Nowadays in India PhonePe has become the most convenient mode of all kinds of payments. But, for making payments and all other transactions the most important thing you should keep in mind is you have to set the UPI PIN and it is mandatory. Without UPI PIN you cannot do any transactions.
Before going to set UPI PIN let us know something about this UPI PIN. Foremostly we should know what UPI PIN stands for. It is a Unified Payment Interface Personal Identification Number.
Importance of UPI PIN
UPI PIN is a 4 to 6 digit secret code which you can use to authorize all your bank transactions. UPI PIN is not provided by the banks but set by the users when registering for the first time on the UPI apps like PhonePe.
UPI PIN makes all your transactions more safer and secure.
Important thing to note about UPI PIN is that your UPI PIN will remain the same for your bank account on all apps.
Now we discuss the process of setting UPI PIN in PhonePe.
How to Set UPI Pin in PhonePe
To setup UPI PIN for your PhonePe you should have a debit card. Without it you cannot create UPI PIN.
Steps to set UPI PIN in PhonePe.
There are 5 simple steps to set UPI PIN in PhonePe.
Step 01: Open PhonePe app and go to My Money page. Then you will see Payment methods.
Step 02: In payment methods click on Bank Accounts.
Step 03: Select your Bank account for which you want to set a UPI Pin. Then you will see a Set option in case you have never set a UPI Pin for the bank account. Otherwise, you will see a Reset option to set a new UPI Pin for the bank account.
Step 04: Then enter the last six digits of your Debit/ATM card number and the expiry date (In case your card does not have an expiry date, try entering 00/49).
Step 05: Now you receive an OTP to your registered mobile number. Enter the OTP
and the new UPI Pin you want to set for the account, and click on submit.
After completion of Step 5 you will see on your screen that, You have successfully set a UPI Pin for your bank account!
Then you can send money and make payments directly from your bank account in the PhonePe app by authenticating using your UPI Pin.
Conclusion
These are the 5 simple and important steps which you should follow to set UPI PIN to your PhonePe safely. And also remember that never share your PhonePe UPI PIN or OTP with anyone because once they have your details they can authenticate your UPI transactions and they can also have a chance to steal money from your account easily. So be aware of keeping your UPI PINS and OTPs secret.
If you are suspecting that your UPI PIN is known to someone then you can immediately change your UPI PIN By clicking on Reset option.