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What is MPIN? Importance of MPIN in mobile banking

what is MPIN

What is MPIN? Importance of MPIN in mobile banking:

You will be familiar with mobile banking. In mobile banking you will often hear the name of the MPIN. Like most people, there may be many questions about MPIN in your mind. What is mpin? Why is MPIN important? How to get it or how to change it? How to get a new one if we forget our MPIN? In this post I have tried to answer all your questions.

 

What is MPIN

MPIN is a type of code. This is the same as the four digits of ATM PIN (6 digits in some banks). Just as you have to enter the PIN code every time you use an ATM, you have to put an MPIN while doing transactions with Mobile Banking, USSD Banking and UPI apps. You can use it only while doing transactions from your mobile. This secures transactions from mobile banking, USSD banking and UPI with your account.

 

 

Why MPIN is important

There is a need for two levels of protection for transactions from the bank. The way you deal with an ATM, the first level of security is your ATM and the second level of security is your ATM PIN. Unless anyone has these two, he can not deal with your account.

Similarly, while dealing with mobile, the first level of security is your mobile number and the second level of protection is your MPIN. Without this, you or someone else cannot deal with your account.

 

 

Uses of MPIN

As I have already mentioned that the MPIN is used in transactions from your mobile. This is a very important code. It is used in the following banking facilities:

  • Mobile app banking
  • UPI apps
  • SMS banking
  • USSD banking
  • IMPS
  • IVR

 

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How to generate or change MPIN

First, you will have to register for mobile banking to get an MPIN. When you register for mobile banking, the bank gives you your MPIN with the user id. You can also create your MPIN using USSD and UPI apps. Creating via USSD banking and UPI apps is easy.

 

Generate MPIN using USSD

  • Dial * 99 # from your registered mobile number.
  • On the next screen, enter your bank’s three-letter name or the initial four letters of IFSC code or the initial two letters of the bank number code.
  • Type 7 in the next menu and send it again.
  • To generate an MPIN, type 1 and send.
  • Generate MPIN as per the instructions given.

 

Change MPIN using USSD

  • Dial * 99 # from your registered mobile number.
  • On the next screen, enter your bank’s three-letter name or the initial four letters of IFSC code or the initial two letters of the bank number code.
  • Type 7 in the next menu and send it again.
  • To change an MPIN, type 2 and send.
  • On the next screen, enter old MPIN, new MPIN, confirm and submit.

 

Generate an MPIN using SBI UPI apps

  • Log in to SBI UPI app.
  • Go to Account Management and Select the account of which you want to generate the MPIN.
  • Go to Set MPIN option
  • Generate the mpin according to the instructions given there.

 

Change MPIN using the UPI app

  • Log in to SBI UPI app.
  • Go to Account Management and Select the account of which you want to generate the MPIN.
  • Go to change MPIN option
  • Enter your old MPIN, new MPIN, confirm and submit

 

I have used the SBI UPI app SBI Pay to understand you. But the process of generating or changing MPIN is similar to almost all UPI apps such as ICICI UPI app, HDFC UPI app and PNB UPI app.

 

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What to do if you forget MPIN

If you forget your MPIN, you do not have to worry about anything. You can generate a new MPIN at any time. You can easily create a new MPIN using net banking, USSD banking or UPI apps. The process of generating new mpins from net banking can vary in all banks but the process of USSD and UPI applications is almost the same.

 

Hope this post will help you to understand all about MPIN. if you have any further query or any suggestion about this post, feel free to write in below comment box.

 

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