What is Mpin Number
Updated: Dec 4, 2023
In today's digital era, mobile phones have become an integral part of our daily lives. From browsing social media to making online payments, our phones empower us to accomplish tasks with just a few taps. An essential aspect that enables secure mobile banking is the MPIN or Mobile Banking Personal Identification Number. But what exactly is an MPIN, and how does it safeguard your money in the virtual world?
Table of Contents
Let's dive into the fascinating world of mobile banking security and decode the MPIN mystery. Whether you are a millennial making UPI payments or a senior citizen accessing your account digitally for the first time, understanding the MPIN is crucial. We will explore the MPIN number, its connection with other PINs like ATM PIN and UPI PIN, and how it adds an extra layer of security for your bank transactions. We've got you covered, whether you setting up an MPIN or resetting a forgotten one. By the end of this article, terms like passcode, verification, authentication, and transaction won't sound alien anymore.
Basics of MPIN Number
MPIN, short for Mobile Personal Identification Number, is a 4 to 6-digit code that provides secure access to your mobile banking applications and enables transactions. Setting an MPIN essentially locks your banking app and creates an additional layer of security beyond your phone password or lock. Before initiating sensitive transactions like fund transfers or bill payments through your bank's mobile app, you will be prompted to enter your unique MPIN as authentication. This prevents unauthorized access and verifies your identity for the mobile transaction. MPINs prevent misuse of your account in case others lose or access your phone. It is important to memorize your MPIN and not store it on your phone for security reasons. MPINs thus enable safe mobile banking by providing user verification through a confidential PIN code. Most banks now require users to set an MPIN when activating mobile banking services. Now that you know What is MPIN, let's understand what is mobile banking in the next section.
What is Mobile banking?
Mobile banking allows customers to access and manage their bank accounts through mobile apps on smartphones and tablets. This provides the convenience of banking on the go without being restricted to desktop computers or visiting physical branches. Customers can check balances, review transaction histories, transfer money between accounts, pay bills, deposit checks, and more. Mobile banking utilizes the internet and cellular connectivity of mobile devices to securely connect users to their bank's online banking services. It offers flexibility and control over finances at any time from virtually anywhere. As mobile technology has advanced and smartphone ownership has increased. Mobile banking has become a popular way for banks to interact with and provide services to customers in the digital age. It allows customers to manage their finances, check account balances, transfer funds between accounts, pay bills, and more through their mobile devices, without doing cash transactions or having to visit a bank branch or use a desktop computer. The usage and capabilities of mobile banking apps continue to expand, providing a feature-rich banking experience through the convenience of mobile devices.
Significance of MPIN in UPI
MPIN plays a vital role in UPI and mobile payments. They make your transaction secure and more convenient for you. Here are some advantages of MPIN in UPI:
1. Enhanced Security
An MPIN serves as a confidential code, bolstering the security of individual financial transactions. Users have the flexibility to create a unique, easily memorable code, ensuring a personalized layer of protection.
2. User-Friendly Generation
The MPIN is a 4 to 6-digit code that users can generate at their convenience through USSD or the UPI app on their mobile devices. This flexibility accommodates individual preferences, contributing to a seamless user experience.
3. Account Protection
The MPIN plays a pivotal role in safeguarding users' accounts. Without the correct MPIN, no transactions are permitted from the account, providing an additional layer of security. This feature ensures that even if a mobile device is lost, unauthorized transactions cannot take place without the corresponding MPIN.
4. Instant Accessibility
Obtaining an MPIN is a swift process, accessible through the user's mobile device and the bank-registered mobile number SIM. The instant availability of the MPIN facilitates quick and convenient setup, allowing users to promptly utilize it on any authorized UPI-based app.
Uses of MPIN
Here are some of the uses listed below:
1. Mobile Banking Apps
MPIN provides secure access to your bank's mobile banking application on your smartphone or tablet. You must enter your MPIN when logging in and for sensitive transactions like transfers, bill payments, etc. It adds a layer beyond your phone password.
2. UPI Apps
For making UPI payments through apps like Google Pay, PhonePe, and BHIM, you need to set a UPI PIN. This PIN is essentially an MPIN that authenticates your payments and transfers specifically within UPI apps, keeping your money secure.
3. ATM Transactions
Some banks provide the option to use your MPIN and debit card when withdrawing cash from an ATM. The MPIN functionality may be enabled when you set up mobile banking.
4. SMS Banking
To utilize SMS banking, where you can request your account balance or make basic banking queries over SMS, banks will require you to authenticate via your MPIN sent through SMS.
5. USSD Banking
To access USSD banking services through shortcodes like *99#, you may need to enter your MPIN after dialing the code to securely check your balance, transfer funds, or make other transactions.
6. Interactive Voice Response (IVR)
When you call your bank's customer service or automated response number, you may be asked for your MPIN for verification before being able to conduct any phone banking transactions. This prevents fraud.
7. IMPS Transfers
For interbank immediate funds transfer through IMPS, you can use your MPIN to securely authorize the transfer after entering the required transaction details.
8. Overall Security
MPIN essentially works as your digital signature across various mobile banking platforms and adds security through authorization. But it's important to keep it confidential and secure at all times.
How can you generate MPIN
It is mandatory to generate an MPIN (Mobile Personal Identification Number) to use mobile banking services. Users can easily generate an MPIN through various methods:
1. Through UPI Apps
Many UPI (Unified Payments Interface) apps use MPIN to provide banking services to users. These apps can also be used for new MPIN registration and changes. To generate an MPIN on a UPI app:
Log into the app with your username and password.
Go to account management options.
Find the option to set MPIN.
Carefully follow the step-by-step instructions to create a new MPIN.
2. Through Net Banking
Net banking portals can also be used to generate an MPIN. Follow these steps:
Log into your bank's website with username and password.
Find the mobile banking option in the menu and select MPIN.
Choose "Setup MPIN."
Authenticate your mobile number by entering the OTP sent to your registered number.
Input a 4-6 digit MPIN and confirm.
You will receive an SMS confirmation on your registered number once the new MPIN is set up.
3. Through Bank Branch
Connect with your bank branch to generate a new MPIN. Fill out the MPIN generation form provided. A bank representative will then share details of your new MPIN.
4. Through ATM Card
ATMs can also be used to set up an MPIN:
Insert ATM card and enter passcode. Select "Confirm".
Choose "Forgot MPIN/Login Password" from the menu.
After OTP authentication, generate and confirm a new MPIN.
A confirmation SMS will be sent to your registered mobile number.
5. Through USSD Code
The USSD (Unstructured Supplementary Service Data) code can generate an MPIN, especially for basic phones without internet. Follow these steps:
Dial *99# on your phone.
Select "Generate MPIN" by choosing the designated service number.
Input the last 6 digits of the card number, space, and expiry date and send.
Directly enter and send the new MPIN.
A unique new MPIN will be generated.
MPIN provides two-step authentication for mobile banking - first MPIN, then OTP to the registered mobile number. Overall, MPIN can easily be generated through channels like UPI, net banking, bank branches, ATMs, and USSD codes.
How to Change MPIN?
To enhance mobile banking security, users should periodically change their MPIN by following these steps:
First, log in to your bank's mobile app using your current MPIN or credentials. Go to Settings or More options and select "Change MPIN".
You will be prompted to enter your old MPIN first. Then choose a new 4-6 digit MPIN you want to set and confirm it. Input the one-time password sent to your registered mobile number to complete the MPIN reset process.
Alternatively, you can change your MPIN directly within your UPI app like Google Pay by going through the same flow - login, go to MPIN change, enter an old and new PIN, and input OTP received.
Regularly resetting your MPIN improves overall mobile banking safety. This proactive security practice safeguards your sensitive financial transactions on mobile apps and UPI platforms.
MPIN vs ATM PIN, MPIN vs UPI PIN
ATM, UPI, and MPIN are different banking PINs used for specific services like ATM, UPI payments, and mobile banking apps, respectively. Here are some key differences:
Detail | ATM PIN | UPI PIN | MPIN |
|---|---|---|---|
Purpose | Debit card authentication during POS transaction or while withdrawing cash from ATMs | Transaction authentication in UPI apps | Authentication of mobile banking apps like IMPS, NEFT etc. |
Passcode length | 4-digits | 4-digits | 4 or 6 digits |
Setting PIN | By following the instructions provided by the bank. | Via UPI apps | Via bank's app |
Reset PIN | Use net banking or visit nearest bank ATM | Through UPI app only | Through ATM, banking app or visit nearest bank branch |
Use | Cash withdrawal, Check balance | Check account balance via UPI apps, Online and offline transactions | Transact via mobile banking services, Or, through banking apps |
The main differences between the three PINs:
ATM PIN is for debit card transactions at ATMs and POS. It is set by the bank and reset at an ATM or branch.
UPI PIN authenticates UPI app transactions. It is set and reset through the UPI app.
MPIN authenticates mobile banking apps. It is set via the bank's app and reset at an ATM, branch, or in the app.
ATM PIN is 4 digits, while MPIN can be 4 or 6. UPI PIN is always 4.
Uses are specific to the service - ATM for cash and debit transactions, UPI for mobile payments, MPIN for mobile banking apps.
Tips for Maximizing MPIN Security
Here are some additional tips for maximizing MPIN security:
Change your MPIN every few months to stay ahead of hackers. Don't use birthdays or anniversaries, which are easy to guess.
Use a unique MPIN for banking that you don't utilize elsewhere. Avoid recycling the same code across accounts.
Confirm your banking app and OS are updated. Outdated software lacks the latest encryptions.
Beware of shady links asking you to enter your MPIN. Legitimate banks will never message requesting your confidential information.
Contact your bank immediately if your MPIN is compromised. Timely action can limit financial damage from leaks.
The MPIN represents the frontline defense for your mobile money. Treat it carefully, employing only secure methods to set up and manage the code. Maintaining MPIN integrity is essential to safeguarding your hard-earned cash as mobile banking expands.
Conclusion
An MPIN, or Mobile Personal Identification Number, is an important passcode that provides secure access to your bank account for mobile banking and digital transactions. Unlike ATM PINs and UPI PINs which serve other purposes, the MPIN offers an extra layer of verification and security when performing sensitive actions like changing your contact information, generating OTPs, managing beneficiaries, or accessing features like YONO.
With mobile and online banking on the rise, it's crucial to understand how to manage your MPIN and use it properly when required. The MPIN along with other precautions like two-factor authentication, prevents fraud and protects your finances. If you have any questions about generating, changing, or resetting your MPIN, contact your bank directly. Their customer support can walk you through the process and ensure your account remains secure.
For seamless mobile banking services, optimal security, and fraud prevention, remember the importance of the MPIN passcode. Contact us anytime to learn more about safely managing online payments, digital transactions, and mobile banking!
FAQs
Q1. What are the benefits of using UPI as a mode of payment?
There are several benefits of using UPI as a mode of payment, some of them include:
Funds can be transferred instantly 24/7, eliminating delays.
Transactions use a Virtual Payment Address, no need for bank details.
Reduces the risk of stolen card info or banking details.
NPCI has even allowed NRIs with international numbers to use UPI.
UPI PINs are unique and secure.
Q2. What are the best strategies for choosing an mPIN?
Choosing a strong MPIN is crucial for securing your financial transactions. Here are some best strategies:
Avoid using personal info like birthdate or phone number.
Pick something easy to remember but hard to guess.
Change it frequently.
Change immediately if suspicious activity occurs.
Q3. What happens if I make a mistake entering my PIN during a transaction?
The transaction will fail if you input the wrong PIN. Repeated wrong PIN entries may temporarily block UPI transactions from your account, depending on your bank's policies.
Q4. Is it secure to send money over UPI?
UPI is a secure platform governed by the government. However, never share your mPIN or UPI ID. Change your PIN regularly. Only connect to secure networks like home wifi or mobile data, and avoid public networks for transactions.
Q5. What is the example for MPIN?
MPIN provides secure authentication for online transactions, similar to how PINs are used at ATMs. Unlike static ATM PINs, mPINs are dynamic one-time passwords like 426172 or 253617.
Q6. How can I report any issue or complaint related to MPIN?
You can report an issue or complaint related to MPIN by contacting your bank or app provider through your customer care number, email, or website.
Q7. Is MPIN safe and secure?
MPIN is a safe and secure way to authenticate your identity and protect your account from fraud. However, you should never share your MPIN with anyone or write it down anywhere. You should also change your MPIN regularly and use a strong and unique code.
Q8. What is the difference between MPIN, UPI PIN, and ATM PIN?
MPIN, UPI PIN, and ATM PIN are different codes used for different purposes. MPIN is used for mobile banking apps, UPI PIN is used for UPI apps, and ATM PIN is used for debit cards. MPIN and UPI PIN are usually 4 or 6 digits long, while ATM PIN is usually four digits long.
Q9. How can I change my MPIN if I forget it or want to reset it?
You can change your MPIN by using any of these methods:
Using your net banking account, you can choose the option to change MPIN and follow the instructions.
Using your UPI app, you can go to the settings or profile section and select the option to change MPIN.
Using your ATM card, you can insert it into the ATM machine and select the option to change MPIN.
Q10. How can I get MPIN for my mobile banking app?
You can get MPIN for your mobile banking app by logging in to your bank account and choosing the option to set up MPIN. You will receive an OTP on your registered mobile number, which you need to enter to confirm your MPIN.
