Why and How to Change Your UPI PIN Regularly

Posted by — September 25, 2024 in Business 0 1

In the digital age where online banking and transactions have become the norm, security is paramount. Ensuring the safety of your finances involves various aspects, one of which is regularly changing your UPI (Unified Payments Interface) PIN. Developed by the National Payments Corporation of India (NPCI), UPI has revolutionized the landscape of digitized transaction systems in India. It allows you to instantly transfer money between any two bank accounts by using a mobile platform, thereby making banking more accessible and efficient. This article elucidates why you should change your UPI pin frequently and how to do so.

Why should you change your UPI PIN regularly?

The primary reason for changing your UPI PIN regularly is to ensure the security of your financial transactions. Changing your UPI PIN every few months makes it difficult for hackers to guess your pin, thereby reducing the risk of unauthorized transactions. Instances of cyber-attacks are increasing, making a frequent change of UPI PIN a prudent measure of cyber hygiene.

In the event that you disclose your UPI PIN inadvertently, changing the pin will nullify access the intruder has over your account. National Payments Corporation of India advises not to share your UPI PIN with anyone, and regularly changing it is an extra layer of security, following their advice to the letter.

How to change your UPI PIN?

To change your UPI PIN, open your mobile banking app or your UPI app. Go to the ‘My Profile’ or similar option, then select ‘Change UPI PIN’. After inputting your existing UPI PIN, you can enter a new one. Confirm the new UPI PIN and click on ‘Submit’ or ‘OK’. Your UPI PIN is changed. This method generally applies to all UPI apps and platforms developed by the National Payments Corporation of India.

Bajaj Pay UPI:

Bajaj Pay UPI offers a convenient, secure, and user-friendly platform for your banking and financial needs. Developed by Bajaj Finserv, this platform provides a robust security system that includes regular reminders and facilities to change your UPI PIN with ease. The Bajaj Pay UPI further supports the vision of NPCI to digitize transactions in India, and propagates the adoption of financially sound steps, like regularly updating your UPI PIN.

Steps to use Bajaj Pay UPI:

Bajaj Pay UPI has been designed keeping the user convenience in mind. Here are the steps to use it:

  1. Download and install the Bajaj Finserv Wallet App from Google Play Store or Apple’s App Store.
  1. Open the app, and go to ‘Create New UPI ID’ or ‘Link existing UPI ID’.
  1. Link your bank account details with the app, including your bank account number and IFSC code.
  1. Now, set a UPI PIN that you will use for your transactions.

Once your account is set, you can send and receive payments via Bajaj Pay UPI. Additionally, you can avail of amazing deals, offers, and cashback features.

To secure your transactions and prevent unauthorized access, it’s essential to keep changing the UPI PIN regularly. The process of changing the PIN is simple and similar across all banks linked with UPI, guided and overseen by the National Payments Corporation of India. Bajaj Pay UPI not only embraces this security protocol but also encourages its users to follow it for a safer banking experience. With digitization fast catching up, the security of online transactions becomes a priority, and knowing how to change UPI PIN periodically is an important step towards that.

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