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Introduction
Unified Payments Interface (UPI) is a portal developed by the National Payments Corporation of India (NPCI) to facilitate interoperability between banks. This is a one-stop solution for using separate bank accounts to carry out transfers from a single app.
UPI stands for Unified Payment Interface (UPI). It enables money to be immediately transferred via a mobile phone from one bank account to another. Payments can only be rendered via supporting mobile phone apps. The cash transactions through UPI are available 24x7.
IndusInd Pay is the UPI application of IndusInd Bank. Unified Payments Interface allows all holders of bank accounts (UPI banks) via a single Virtual Payment Address (VPA) ID and mobile portal to send and receive money without the need to keep track of any beneficiary data, or use the UPI to perform commercial transactions. It allows IndusInd Bank account holders to make payments instantly from any bank account, using only the Virtual Payment Address, without any need to know other specifics of the recipient.
In order to use UPI for your payments, you need to have a bank account in India with your mobile number linked to that bank account. UPIs allow you to link multiple bank accounts to your single IndusInd Bank UPI account. Some other popular apps that provide UPI payment are BHIM created by NPCI, and certain private companies such as Paytm, PhonePe, Google Pay, Amazon Pay, etc. Make sure you have your mobile number listed for authentication on your bank account.
BHIM IndusPay UPI App is the official app to use IndusIndPay UPI features. This app is available on Google Play Store for free download.
About IndusInd Bank UPI
- Salient features of the BHIM IndusPay UPI App
- How to register for IndusPay?
- How can I send money using VPA on IndusPay?
- How can I receive money using IndusPay?
- How do I approve any receive money requests that I receive?
- How can I set UPI PIN for the accounts linked on my IndusPay UPI App?
- Transaction Limits on BHIM IndusPay UPI
- What other services can I use on the IndusPay UPI App?
- What is an UPI Mandate?
- IndusPay UPI App FAQs
Salient features of the BHIM IndusPay UPI App
- This application can be used by holders of both INDUSIND and Non INDUSIND accounts. You simply need a bank account registered with your mobile No in an activated UPI bank.
- Transfer and receive funds from one application from various banking accounts
- 24*7*365 funds at no cost
- Money transfers using VPA, IFSC account number and +MMID mobile number
- Check all your linked accounts for balances
- Use UPI as a payment option for retailers
- Register grievances through the app itself and view case status also on the app
How to register for IndusPay?
It is very simple to download and install the IndusPay app on your smartphone. Follow these steps to setup IndusPay:
- Download and install the BHIM IndusPay App from Google Play store
- Choose the language of choice.
- Select whether it is a consumer/merchant registration
- Choose the SIM card with the registered number of the mobile phone on your account and send SMS to your device for binding it with the virtual number.
- Choose your bank account information and create your Virtual Payment Address (VPA)
- You can set your application pin once after creating a successful VPA.
- You will be registered for the App once the application pin has been set.
How can I send money using VPA on IndusPay?
You can send money from the 'Consumer' section of the IndusPay app. You can send money to a person using these criteria – VPA, Account number and IFSC Code & Mobile number and MMID
Follow these simple steps to transfer money:
- Click the Pay button on the app and pay using VPA.
- Enter details of the VPA payee, number & comments (optional).
- Select the bank account you want to send money from.
- Enter the UPI PIN and the transaction is done
- Both the beneficiary and sender receive an SMS to confirm the transaction
How can I receive money using IndusPay?
Similar to sending money, you can receive money too from the 'Consumer' section of the IndusPay app. Follow these simple steps to receive money:
- Click on the Receive Money option
- Enter the sender’s VPA, amount and expiry time
- The request will then be sent to the payer for approval
- Once he approves the transaction, your default account linked with VPA will be credited
- Both the beneficiary and sender receive an SMS to confirm the transaction
How do I approve any receive money requests that I receive?
- You will get a notification when someone requests money from you.
- You can visit the pending approvals section and approve or reject the received money requests sent to you.
- you will have to enter the UPI PIN to approve the transaction
- your default account linked to VPA shall be debited and the payee account who sent you the receive money request will be credited
How can I set UPI PIN for the accounts linked on my IndusPay UPI App?
You can set UPI PIN for every account linked on the IndusPay UPI App. Follow these simple steps to set your UPI PIN:
- Open the BHIM IndusPay UPI App
- Click on the Account Management tab
- Choose the account you want and click on ‘Set PIN’
- Enter the last 6 digits of your debit card and its expiry date
- Upon authentication, you can set your desired UPI PIN for that account
- Please note that separate UPI PINs can be set for each linked account
Transaction Limits on BHIM IndusPay UPI
- For IndusInd Bank, the limitations of the transactions will be determined in compliance with the regulation of the bank.
- Banks can adjust UPI transaction limits under the upper limits of the National Payments Corporation of India (NPCI) as per the policy of the bank.
- The upper limit mandated by NPCI is Rs. 1 lakh per transaction and Rs. 1 lakh total value of the transaction.
- A limit of 10 transactions can be initiated within 24 hours of the first transaction.
How to make online payments to merchants using BHIM IndusPay UPI?
IndusPay UPI allows you to make payments for your online purchases. It is very simple and similar to your credit or debit card payments.
- Add the items you want to purchase on the shopping sites cart
- Go to the payments page
- Choose UPI as your payment option
- Here you enter your IndusInd Pay’s VPA ID (XYZ@UPI)
- You will now receive a collection request on your IndusPay UPI App
- You open the app and authorize the transaction by entering the UPI PIN
- The amount is debited and the payment for your shopping is completed
How does a merchant receive money using IndusPay?
- If you are a Merchant using IndusPay, you can make use of the BHIM UPI QR to collect payments from your customers:
- You just have to click on the UPI Icon and it will generate the Merchant BHIM UPI QR
- Now, print and display this QR code in your merchant establishment
- You can ask your customers to scan this QR Code using any BHIM UPI enabled mobile banking app
- It also works with other payment apps like GooglePay, PhonePay, PayTM etc.
- The customer scans the QR and completes the payment on his smartphone
- You will receive a transaction confirmation on your app/SMS once the money has been credited to your account
What other services can I use on the IndusPay UPI App?
Right now, IndusPay UPI App allows you to recharge your Delhi Metro (DMRC) smart card instantly.
Very soon, you can perform various other transactions like:
- Mobile recharge
- DTH recharge
- Data Card recharge
- Electricity Bill Payments
- Insurance Payments etc.
What is an UPI Mandate?
UPI Mandate is a feature that allows you to pre-authorize (Mandate) transactions to be debited from your bank account later. The mandate of the UPI is to be used in situations where money is to be transferred later, but the commitment to that is to be made now. It is likely that the sender will forget to send money later in order to establish a mandate or to make a service/merchant payment where this feature may be necessary. The account of the consumer shall be debited when the mandate is fulfilled.
Benefits of UPI Mandate:
- Allows you to create mandates for payments that are to be done on a future date.
- It serves as a promise to both the customer and the merchant in the case of payment/service by the merchant.
How to use UPI mandate on BHIM Induspay?
- Open the BHIM IndusPay app
- Click on the UPI mandate option
- It will give you four tabs; My Mandates, Create, Scan, and Request Receive
- My Mandates will show you all the mandates that you have created
- Scan option will let you create one using the recipient s QR code
- Request receive will show the mandate request received
IndusPay UPI App FAQs
1. What is the IndusPay Virtual Payment Address (VPA)?
IndusPay Virtual Payment Address is a unique identifier (for e.g. abc@indus where "abc" is the unique name chosen by you) that can be specifically linked to any preferred account of any UPI powered account.
2. How do I link my account number to the IndusPay App?
The account number can be linked to the VPA during registration or from the Account Management choice inside the App. You just have to pick the bank you want and all your accounts linked to the authorized IndusPay mobile number will be retrieved and shown. You can pick an account and connect it to your VPA.
3. Can I connect more than one account to a single VPA account?
Yes, you can do that. Choose your current VPA when connecting to your second bank account. If you connect more than 1 account to a VPA, you can set up a default account to send and receive money.
4. Can I change my default account?
You may switch the default account by selecting the preferred account option on the App.
5. What happens if the transfer transaction fails or is transferred to an incorrect account?
You need to carefully check all the details of the beneficiary before making any transactions. In the event that such an error occurs, you can file a complaint from the application itself via the complaint section. In the event of a failed transaction, the balance will be refunded directly to the account within 7 working days.
6. What are some of the reasons for the UPI transaction to fail?
There are many explanations for a failure of the UPI transaction:
- The system must have been down
- False UPI PIN
- Incorrect receiver UPI ID
- If the recipient is not on the Bharat Money Interface
7. What happens if my phone is lost or stolen?
If you lose your phone, the UPI PIN needed to approve all transactions would not be known to a third party and will therefore not be able to use the Bharat Interface for Money. In addition, you have to contact the customer service department at your bank to make sure that your account is not misused.
8. What's the UPI PIN?
UPI PIN (UPI Personal Identification Number) is a 4 to 6-digit secret code that you create/set when you first register with this app. You must enter this UPI PIN to approve all bank transfers. If you have already set up a UPI PIN for other UPI Services, you can use the same for Bharat Interface for Money (BHIM) Banks given MPIN are different from the UPI PIN. Please use the Bharat Interface for Money app to create a new UPI-PIN. Please don't share your UPI PIN with anybody else. Bharat Interface for Money does not store or read your UPI PIN data, and the customer service of your bank will never ask for it.
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