mPIN in UPI:
Another benefit of using UPI is that you can do away with the need to wait for an OTP and enter it to complete the money transfer.
The mPIN is a 6-digit passcode that you must enter every time you need to make a transaction.
The mPIN is highly valuable because customers do not have to enter IFSC codes or other information each time they want to send or receive money, which is why the mPIN proves to be a great means to confirm one’s identity.
Without this pin, you cannot make transactions. This ensures that if your phone happens to fall into the wrong hands.
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India retains the top spot with 25.5 bn real-time payments transactions, followed by China with 15.7 bn transactions. We are using these Services in our daily life.
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