What is the 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) plays a vital role in this new platform of banking. This is the hidden system that makes your mobile banking security.
Any payment made through a mobile or mobile app is not possible without MPIN. So all of us need to know what is MPIN? Why is this important? How it is generated and how to change it when needed.
For secure mobile banking, we are trying to familiarize you with all the aspects of Mobile PIN, i.e., MPIN below.
What is MPIN?
Simply put, a mobile PIN is a password. Like you use a password in an ATM, in Internet banking, or to open your email. Similarly, MPIN is required to make any payment or transaction through mobile. This pin is four or six digits long. Mobile PIN is currently being used mainly in mobile banking and SMS banking, and mobile app banking such as USSD and UPI.
MPIN Full Form
Mobile Banking Personal Identification Number
Importance of Mobile PIN (MPIN)
MPIN has particular importance in the secure transaction of money through mobile banking. Its role is essential 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 your bank account’s security cycle will collapse, and you may have to bear the financial loss. 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 the MPIN
There are different ways to generate Mobile PIN (MPIN) in different mediums of mobile banking. But to generate MPIN broadly, 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, i.e., MPIN.
But on some mobile banking platforms, 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
Usually, all banks provide information about balance inquiries, mini statements, last few transactions, check status, etc., to customers through SMS banking. To avail of this facility, the bank’s customer has to 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 procedures for SMS banking. If a customer wants to avail of this facility, he has to contact his bank.
MPIN for UPI banking
Bank customers can generate their mobile PIN (MPIN) on this app-based banking platform. For this, you have to open the UPI banking app installed on 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 the 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 your bank’s UPI app) and click on the submit button.
- If there is no technical problem in the app, then your MPIN will be sent successfully, and you will get information immediately.
- When you want to change your MPIN, go to the ‘Account Management’ option in the app and click on the ‘Change MPIN’ option.
- After this, three columns will be displayed. Insert the old MPIN in the first column and the new MPIN of your choice in the second column and make sure and submit the new MPIN in the third column.
- After submission, you will get a notification of ‘MPIN Successfully Changed,’ and your new MPIN will be activated.
MPIN for USSD Banking
On this mobile banking platform, too, you can generate your MPIN according to the following instructions by yourself.
- First of all, dial *99*22# from your registered mobile number.
- After this, the USSD service will start on your phone. Now you have to connect 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 and send 1 option to generate MPIN.
- 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.
- No 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 mobile phones. 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 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 follow 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 worry or worry. You can generate a new MPIN according to the instructions given on your mobile banking platform.