What is VPA (or UPI ID)?
VPA (or UPI ID) is a virtual payment address by which you can send or receive money to any bank account digitally without any hassle 24×7. You don’t have to remember the hectic account numbers, Aadhaar Nos. and IFSC’s codes or other messy things, which requires transferring money. You just have to remember the VPA of the payee and that’s it. UPI is different and convenient to the other type of transaction methods like internet banking, IMPS etc.
VPA is just a payment address which works just same as you want to receive some amount of funds from other, so that person has to come to your address to give it. But the difference is by the VPA you can receive the funds digitally into your bank account directly and instantly without going anywhere.
It is introduced under the UPI (unified payments interface) a payment interface which works on the electronic transfer, which is safe and works 24×7 and 365 days. It also works under the Digital India campaign launched and introduced by the NDA government under the leadership of Prime Minister Shri Narendra Modi. UPI controlled by the NPCI.
How to get the VPA?
First of all, you need an account in any nationalized bank, nowadays all the banks have this facility but please go to your respective bank website to know more details.
If you have an account and a smartphone with working data connection (ha…ha..), then you are good to go. You have to download the UPI app for the respective bank on your smartphone.
I’m gonna tell you how to create VPA with the BHIM SBI pay app using an Android mobile (or you can use i-phone and download the same app via Apple Store).
Step 1: Go to the play store. Download the BHIM SBI pay app.
Step 2: Now open the app. It will verify your mobile number. Enter your name.
Step 3: On the next screen fill your bank details.
Step 4: On the next screen create a VPA, your VPA should be unique, generate a 6 digit PIN code.
Step 5: Enter your email address and select a security question and enter the answer.
You have created your VPA successfully.
Any VPA looks like yourdesiredname@sbi (@sbi is the suffix for the SBI, it will be different for the different group of banks.)
Now if someone wants to send money to your account. He has to put just your VPA and the amount, nothing else. Now you can use any UPI based app like Tez, Paytm, BHIM, PhonePe etc for various type of tasks like recharge, paying bills and many more.
Some important things you should know about VPA.
- Your phone must not be rooted. UPI doesn’t work with it due to security reasons. You can associate multiple accounts with the single VPA.
- You can change your VPA anytime at your desire.
- You can’t change the suffix of your VPA. It’s fixed by your bank.
- Your mobile number must be linked to your bank.
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