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Secure transaction with UPI PIN

Simple Do’s and Don’ts for UPI

DOs
  • Use UPI PIN to make payments only
  • Keep UPI PIN confidential
  • Verify Receiver's name before payment
  • Scan QR for making payments only
  • Input your UPI PIN solely on the designated App's page
DON’Ts
  • Avoid downloading screen sharing Apps from unknown sources
  • Never enter UPI PIN to receive payment
  • Don't click on unverified links in SMS/ WhatsApp
  • Always take helpline number from the official website
  • Always use verified apps & websites for transactions

5 easy steps to register for UPI

FAQs

  • What is UPI?

    Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties' bank accounts.

  • What is an UPI-PIN?

    UPI-PIN (UPI Personal Identification Number) is a 4-6 digit pass code you create/set during first time registration with this App. You have to enter this UPI-PIN to authorize all bank transactions. If you have already set up an UPI-PIN with other UPI Apps you can use the same on IndusInd Bank App. (Note: Banks issued MPIN is different from the UPI-PIN, please generate a new UPI-PIN in the IndusInd Bank app) Note: Please do not share your UPI-PIN with anyone. App does not store or read your UPI-PIN details and your bank's customer support will never ask for it.

  • What happens if I enter wrong UPI-PIN during a transaction?

    If you enter a wrong UPI PIN more than 3 times, you must reset your UPI PIN or wait 24 hours to make your next transaction.

  • I have selected the Bank name to link with UPI but it does not find my bank A/C

    In such a case, please ensure that the mobile number linked to your bank account is the same as the one verified in any UPI App. If it is not the same, your bank accounts will not be fetched by the UPI platform.

  • How do I pay an online merchant through UPI?

    When you shop-online, you can pay through UPI when you see UPI as a payment option. On clicking that, you will need to enter your Payment Address (eg - xyz@upi). Once entered, you will receive a collect request on your IndusInd Bank app. Enter your UPI-PIN here and your payment will be complete. As easy as this!

  • Roles and Responsibilities of NPCI / and TPAPs in Unified Payments Interface?

    Click to know more

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Your IPO investment plans are now just a tap away

How to Apply for an IPO Using UPI?

  1. Log in to your desired broker app/portal or a trading platform.
  2. Select the IPO you wish to apply for.
  3. Enter the bid details.
  4. At the time of selecting the payment option, select UPI and enter your Bhim Induspay app UPI Id or any other UPI ID linked to your IndusInd Bank account.
  5. Accept the UPI mandate request on your UPI app to block the amount.
  6. Once shares are allocated, the money will be debited from your account, or it will be unblocked if not allocated.

Do’s and Don’ts while applying for IPO using UPI

  • Your bank account must have sufficient balance to process the transaction.
  • In case you have entered the wrong UPI PIN, please get in touch with your intermediary / broker and reinitiate the mandate request
  • If the creation request is not received within a time frame or incorrect details are uploaded or the broker did not upload the bid details, then contact your intermediary / SCSB to reinitiate the bid
  • In case you do not receive the mandate request, please get in touch with your intermediary first and get the status of the mandate request & take up the same with your Bank.
  • In case the collect request is erroneously declined by you, the transaction will be declined and you will have to initiate a fresh request again

Benefits of Applying for IPO Using UPI

  • Convenience: Apply for an IPO from anywhere using your mobile device.
  • Speed: Complete the process in minutes with real-time payment authentication.
  • Security: UPI ensures secure transactions with two-factor authentication.
  • Paperless: Enjoy a hassle-free, fully digital experience without the need for physical forms or signatures.
  • Alerts: Bank will provide regular notifications and alerts about your UPI activity and keep you updated.
  • Take advantage of UPI’s fast and secure payment method to invest in upcoming IPOs easily

Applying for an Initial Public Offering (IPO) through UPI allows you to bid for shares in a company going public directly from your bank account. UPI simplifies the process by offering a quick, secure, and paperless payment method, making it easier for investors to participate in IPOs.
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