Unified Payments Interface (UPI)

 
UPI-Unified payment interface is a payment system by NPCI that allows you to transfer money between Bank accounts or parties like other payment systems NEFT/RTGS/IMPS. In UPI, you have to create a Virtual ID for your account which is like an email id for your account. You can use this Virtual ID to make instant Fund Transfers / Payments to any Beneficiary and is available 24X7. NPCI has introduced this payment interface to simplify payments and to facilitate payments through Mobile Banking. The major advantage in UPI is you can access all your UPI enabled Bank accounts through a single application.

SIB M-PAY UPI - One App for all your accounts and all your payments!!


UPI module will be available in the new update of SIB M-Pay application. Through SIB M-Pay, you can access and do transactions/payments from your SIB accounts and other Bank accounts anytime, anywhere you want.

 

Key Features in SIB M-Pay UPI Application: 

  • Account Management
    You can add and manage all your Bank accounts through this module in the app. An Add Account option is available in this module for linking your account to UPI module. You will have to create a Virtual Address for the added account. You can delink the account by deleting the Virtual Address through this Module.
  • Virtual Address creation :
    Virtual Address is just like a nickname for your account. In the UPI module of SIB M-Pay, you have to create a Virtual Address for each account added through Add Account option. Virtual address will be in the format: nickname@sib. You have to create a unique virtual address and the virtual address will be assigned to your based on the availability. You cannot create a virtual address that is being used by anyone else. By using Virtual Address, your account details are not revealed to third party/others. At any point of time, you can delete/deactivate this Virtual Address.
    Eg: You can create a virtual address for your XYZ Bank account in SIB M-Pay application as yourname@sib.

  • Send Money
    You can use this feature to transfer money to anyone. In Send Money feature, you can transfer money to following combinations:
    • Virtual Address
    • Account Number-IFSC
    • Mobile Number -MMID
    In Send Money to Virtual Address, the money will be credited instantly to the Account Number linked to the Virtual Address. In Send Money to Account Number-IFSC, the money will be credited to the account number entered and in Send Money to Mobile Number-MMID, the money will be instantly credited to the account number linked to the Mobile Number and MMID.

  • Collect Money:
    This is a unique feature in which you can initiate request for money through our M-Pay application by entering Virtual Address of Payer, Amount, remarks and validity of the request. The Payer will receive a notification on the mobile handset with the details of the request. The Payer can authorize/reject the request. Upon authorizing the request with MPIN, the amount will be transferred to your account instantly.
    If anyone sends a collect request to your virtual address, SIB M-Pay application will generate notification in your handset for the collect request. You can process the transaction by clicking on the notification. The details of the request like payee virtual address, debit account number, payer virtual address, payer name, amount and remarks will be displayed in the confirmation page and you can authorizing the transaction with your MPIN.
  • Balance Enquiry:
    You can check the Available Balance and Ledger Balance of all the accounts linked in UPI through this option.
  • Change MPIN:
    You can change the MPIN for Mobile Banking of your UPI enabled Bank linked in UPI through this option.
  • Set MPIN:
    This option allows the customer to set a new MPIN for their Mobile Banking using the Card Details. The customer has to enter the Card Details and an OTP sent to the Mobile Number to complete the Set MPIN process.
  • Transaction Status:
    The details of Transaction initiated from your handset can be checked through this option.

  • Complaint Module:
    Dispute or complaint can be raised for transactions done through UPI channel through this option. The status of the raised complaint can also be tracked through the complaint status option provided in the app.

 

How to Activate SIB M-Pay UPI Application?

1. Download the SIB M-Pay application from Google Playstore. Currently, M-Pay application bundled with UPI functionality is available only in the Android platform.
2. After completing the installation, open the application, the application will send an SMS for verification. Kindly ensure that the default SIM for sending the SMS is your registered mobile number in case of Dual SIM Phones.
3. The Mobile Number will be displayed on the screen for which the registration is initiated. On clicking confirm, the registration will be done. If you have already activated SIB M-Pay application, you will be asked to enter the login password. In the case of newly activated customers, you will be asked to set the credentials.

How to create a Virtual Address for your Bank Account?

1. Login to SIB M-Pay Application, Go to UPI --> Account Management, select Add Account.
2. You have to select a Bank from "Select Bank name" drop down list to add your account. The accounts in the selected Bank will be listed in the "Select Account Number" dropdown list. Now you have to create a Virtual Address for this account by entering in the "Enter Virtual Address" field. On clicking "Add", the virtual address will be linked to the selected account.
3. For eg: if you select 'South Indian Bank' from the drop-down list in Select Bank Name. All accounts in South Indian Bank linked to your Mobile Number will be listed in the Select account number drop-down list.

4. Then on successful virtual address creation, the application will prompt to proceed with “Set MPIN”. If you already have an MPIN for the account, then select 'No' on the popup box.

How to Transfer Money through UPI?

1. In SIB M-Pay UPI module, you have to select Send Money option.
2. In Send Money, you can transfer funds to any Virtual Address or Mobile Number-MMID or Account Number-IFSC that you enter. In Send Money to virtual address, the Payee Name will be displayed in the page after entering the virtual address.
3. After authorizing the transaction, the money will be instantly credited to the beneficiary Account.






How to request Money through UPI?

1. You can request for Money through Collect Money Option.
2. In Collect Money option, you have to select your virtual address and enter a Virtual address of the person from which you are requesting the money.
3. After entering the Virtual Address, the name of the Payer will be displayed.
4. You have to enter the amount, remarks and set the validity for the collect request.
5. On clicking "Collect Money", the payer will get a notification. On clicking the notification, the payer can either accept or reject the transaction.
6. On authorizing the transaction with MPIN, the requested amount will be credited to your account instantly and you will be notified about the same.








How to Set MPIN through UPI?

1. Select Set MPIN option in UPI and select the account for which you need to set MPIN.
2. The application will sent a request to generate OTP to validate the request.
3. You will be asked to enter the card credentials and the OTP which is sent to your Mobile Number.
4. After entering these details, you will be able to set MPIN for the selected account.

 

For any further queries, contact your nearest SIB branch
OR
Call our toll free no. 1800 425 1809
Email: customercare@sib.co.in