With the emphasis on cashless, mobile banking has become the preferred mode of transaction. The government is promoting the the UPI, USSD and IMPS but all of them require MPIN for final authentication. There are some common questions about the MPIN. What Does MPIN means? How can one get it and what is the use of it? The post would try to answer all these questions.
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What is MPIN
The full form of MPIN is ‘Mobile banking Personal Identification number’. It works as a password when you perform any transaction using mobile. It is a 4 digit (6 digits in some banks) secret code similar to the ATM PIN. But it is different from the ATM PIN. The MPIN is used only when we transact through our mobile. Keep in mind, it is a sensitive code. You should keep it secret. Do not write it down anywhere. Banks give this code to his customers when they register for mobile banking. You can also set your MPIN using UPI apps and USSD banking.
What is the Need
To keep the banking transaction secure need two-way authentication. As you get money from the ATM by using your ATM and PIN. Similarly, there should be 2 steps of authentication when you use the mobile transaction.
In the mobile banking, the first authentication is your mobile number. That is why you can do the mobile banking only through the registered mobile number.
The second authentication is your MPIN. You have to memorize it and only you should know it. It makes your mobile transaction secure. If there is not a MPIN, anyone can do the mobile transaction using your lost mobile.
You may be wondering that ATM PIN could be also used as the MPIN. However, RBI don’t want to expose the ATM pin. Also a different PINs would keep both the services independent.
Usage of MPIN
MPIN is a very important code in banking. It is necessary to transfer funds using only your mobile phone. It is used in following mode of transactions
- Mobile App Banking
- SMS banking
- USSD banking
- UPI apps
- IMPS
- IVR
How to get
To use the MPIN, you need to register for mobile banking. When you register for mobile banking, your bank will give you the MPIN along with the user id. You can also create it using USSD banking and UPI apps. The process for getting MPIN using UPI android apps is very simple. All you need to do is login to your UPI app and find the option for creating it. UPI or Unified Payment Interface is the mobile app based payment system.
Generate MPIN using USSD:
- Dial *99# from your registered mobile number.
- Enter three letter abbreviation or first four letters of bank IFSC or first two digits of bank’s numeric code and send.
- Enter 7 in the next menu to access MPIN menu and hit send button.
- Enter 1 and send
- Follow given instructions to Generate.
How to 
Change it using USSD Banking:
- Dial *99# from your registered mobile number.
- Enter three letter abbreviation or first four letters of bank IFSC or first two digits of bank’s numeric code and send.
- Enter 7 in the next menu to access MPIN menu and hit send button.
- Enter 2 and send.
- Enter old MPIN, new MPIN and confirm . Submit it.
Generate MPIN using SBI UPI apps:
- Login to SBI UPI app.
- Go to the Account Management
- Select the account for which you want to generate a new MPIN
- Find the option to Set MPIN
- Follow the given instructions to generate a new MPIN
Change MPIN using UPI apps:
- Login to SBI UPI app.
- Go to Account management
- Choose the account for which you want to change MPIN.
- Find the option ‘change MPIN’.
- Enter your old MPIN, new MPIN and confirm. Tap on submit.
I have taken example of SBI Pay app. But the process is somewhat similar for ICICI UPI APP, HDFC UPI app and PNB UPI.
What if you forgot your MPIN
You do not need to worry if you forgot your MPIN. You can generate a new one anytime. You can generate it using net banking, USSD banking or UPI apps. The process for generating it using net banking is different in all the banks. But, the process is same for USSD banking and UPI apps.