What is MPIN number in banking as we all know that today is the era of mobile banking. The trend of mobile banking is increasing rapidly in India too. Mobile PIN (MPIN) has a very important role on this new platform of banking. This is the hidden system that makes your mobile banking secure. Any payment made through mobile or mobile app is not possible without MPIN. So it is important for all of us to know what is MPIN? Why is this important? How it is generated and how to change it when needed. For a secure mobile banking, we are trying to familiarize you with all the aspects of Mobile PIN i.e. MPIN below.
What is a mobile PIN? (What is MPIN number in banking ) –
Simply put, a mobile PIN is a password. Just like you use a password in an ATM machine, in Internet banking or to open your email, similarly MPIN is required to make any type of payment or transaction through mobile. This pin is four or six digits long. Mobile PIN is currently being used mainly in mobile banking as well as SMS banking and mobile app banking such as USSD and UPI.
Importance of Mobile PIN (MPIN) –
MPIN has special importance in the secure transaction of money through mobile banking. Its role is important in the two-tier security mechanism of mobile banking. Your user ID can be known to everyone who knows you, but MPIN is yours and only yours. If anyone else is aware of this, then the security cycle of your bank account will collapse and you may have to bear financial loss. Simply put, in mobile banking your mobile number is the first level security circle and MPIN is the second security circle. Without both, neither you nor anyone else can transact with your bank account.
Where is the use of MPIN –
MPIN is being used mainly in Mobile Banking, SMS Banking, Immediate Payment Service (IMPS), USSD Banking and UPI Banking.
How to generate and change mobile PIN ( How to generate MPIN ) –
There are different ways to generate Mobile PIN (MPIN) in different mediums of mobile banking. But to generate MPIN broadly, first of all you have to get your mobile number registered on the respective mobile banking platform. After getting registered, your bank gives you a user ID and password ie MPIN. But on some platforms of mobile banking, you can generate your user ID and MPIN on your own and can also change it as needed. Below we are telling you about how to generate MPIN on different platforms of mobile banking.
Mobile PIN for SMS Banking ( How to change MPIN for sms banking ) –
Usually all banks provide information about balance inquiry, mini statement, last few transactions, check status etc. to customers through SMS banking. To avail this facility, the customer of the bank has to make a request in writing from his bank. After this, the bank provides the user ID and MPIN to the customer. When SMS banking is activated on your mobile, you are provided with the facility to change the MPIN. Different banks have their own procedures for SMS banking. If a customer wants to avail this facility, he has to contact his bank.
Mobile PIN for UPI Banking ( MPIN for UPI Banking ) –
Bank customers can generate their own mobile PIN (MPIN) on this app based banking platform. For this, you have to open the UPI banking app installed in your mobile and generate the MPIN according to the following instructions.
- First of all, go to your bank’s UPI APP and create your virtual ID. Then add it to your bank account.
- Now select the account for which you want to generate MPIN and click SET MPIN option. On clicking, OTP (One Time Password) will come on your registered mobile.
- Your MPIN column will be activated as soon as you enter the OTP. After this, you enter a PIN of four or six digits of your choice (number depends on UPI app of your bank) and click on submit button.
- If there is no technical problem in the app, then your MPIN will be set successfully and you will get the information immediately.
- When you have to change your MPIN, go to ‘Account Management’ option in the app and click ‘Change MPIN’ option there.
- After this, three columns will be displayed. Insert the old MPIN in the first column and in the second column insert the new MPIN of your choice and make sure to submit the new MPIN in the third column and submit it.
- After submission, you will get notification of ‘MPIN Successfuly Changed’ and your new MPIN will be activated.
Mobile PIN for USSD Banking ( MPIN for USSD ) –
On this platform of mobile banking too, you can generate your MPIN according to the following instructions by yourself.
- First of all, dial * 99 * 22 (for Hindi language) # from your registered mobile number.
- After this the USSD service will start on your phone. Now you have to add it to your bank account. For this, the first three letters of your bank’s name or the first four letters of the IFSC code will have to be written and sent.
- Then the next menu will be displayed in the app. Choose 7 here and send it.
- Then select 1 option to generate MPIN and send it.
- In the next step you will be asked to enter the MPIN of your choice and submit it. Now follow the instructions displayed on the app and get your MPIN.
- Now when you want to change your MPIN, after following the above three instructions, select and send 2 of the options displayed.
- Now further instructions will come on the phone screen to change the MPIN. In this, you will first be asked for the old MPIN and then the new MPIN and then you will be asked to re-insert the new MPIN. You follow the instructions and after giving all the information, press the submit button.
- After the above process, your old MPIN will be canceled and the new MPIN will be activated.
MPIN for Instant Payment Service (IMPS) Banking –
On this banking platform, payment is made through a mobile phone. However, few banks are offering this platform. Prominent among them are ICICI Bank, State Bank of India and Axis Bank. MPIN is also required to use this service. All three banks are providing this service in their own way. Here we are telling you about generating MPIN on ICICI Bank’s IMPS platform.
- For this, first you have to dial * 525 #.
- After this, option 2 has to be selected from the menu to be displayed.
- Now enter the last four digits of your bank account and submit as per the instructions.
- Then following the instructions displayed on the screen, enter the 4 digit MPIN of your choice and submit. You will be immediately informed about the successful MPIN generated on the mobile screen.
If you forget MPIN then there is no need to panic or be worried. You can go to your mobile banking platform and generate a new MPIN as per the instructions given.