Offers
Rates
V-KYC
Debit Card Related
Credit Card Related
SA Welcome Kit 
Manage Mandate(s)
Get Mini Statement
categories
Bloggers
Blog collection
Press Release
What is the Full Form of VPA? What is VPA in UPI?
Posted on Friday, July 19th, 2024 | By IndusInd Bank
The Unified Payment Interface (UPI) system has become considerably popular over the last few years. One can split bills with friends, pay merchants to buy groceries or recharge their phone with just a few clicks. UPI has revolutionised the way people make payments and handle financial transactions.
The ease and convenience of UPI make it a preferable mode of payment. The reason for this is a Virtual Payment Address or VPA. If you have made a UPI payment recently, you may have heard of the term ‘VPA’.
Read on to know what VPA means and its role in the UPI process.
Understanding VPA in detail
VPA, as its full form (Virtual Payment Address) suggests, is a digital ID that enables you to send and receive funds through UPI-enabled apps.
With a VPA, you no longer need to enter lengthy details like the bank account number, branch name, or the IFS code. The VPA acts as a single indicator of the UPI account. With a VPA, senders can recognise and verify the recipient’s identity (and vice versa). Thus, it allows for an easy, safe, and convenient transaction.
A VPA generally has the following structure: username@bankname.
Is VPA the same as UPI ID?
Many might wonder if a VPA ID means the same as a UPI ID.
Yes, a VPA and UPI ID refer to the same thing. It is the virtual/digital address through which money can be sent and received.
How to Generate and Use a VPA ID?
The system sets up a VPA when you register on a UPI-enabled app and link your bank account. You can also choose a VPA ID as per your preference.
The process to create your Virtual Payment Address is as follows:
- Install the relevant UPI app on your phone.
- Enter the mobile number linked to your bank account.
- Once you have entered the required details, you will get the option to create your VPA ID. Usually, some VPA options may already be provided. You can choose from amongst these or create your own.
- After you have set up your VPA, you have to set up your UPI PIN, which can either be four digits or six digits.
- Once you set the PIN and link your bank account with the UPI app, you can initiate transactions from the VPA ID.
Now that it is clear what Virtual Payment Address or VPA is in UPI and how to create it, let us understand how to use it.
- To send money, enter the recipient’s VPA in the UPI app. Choose the ‘Pay via VPA’ option. Enter the payment amount, followed by the PIN. The payment will be processed instantly.
- To receive money, you must share your VPA with the sender. The latter can follow the above steps to send you the money. You can also request money by entering the sender’s VPA and the amount. Once the request is sent, the sender will get a notification. They can go to their UPI app and follow the payment procedure.
If you have an IndusInd Bank Savings Account, you can link it to your UPI-enabled app and make financial transactions from your account easily.
Also Read: Exploring UPI: Can Current Account Holders Utilise It?
Opening an IndusInd Bank savings account is very simple and 100% digital. All you need to do is enter your mobile number, PAN card, and Aadhaar card details. Then, you can complete video KYC and finish the remaining processes online. Once all steps are complete, your bank account opening process will also be completed.
Get started on your financial goals with IndusInd Bank now!
Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial
