In this article, we’re taking a look at the Indian virtual payment address, meaning the unique identifier for India’s Unified Payments Interface (UPI).
If you are looking for other virtual addresses, please review the other free resources available on our website.
This is part of our free series on banking in India, covering topics like opening an NRI bank account, which you can access here.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Virtual Payment Address Meaning
- What Is a UPI Money Transfer?
- How Do I Find My Virtual Payment Address?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
Virtual Payment Address Meaning
Virtual payment address, meaning the payment address used with India’s Unified Payments Interface (UPI), is a unique identifier that facilitates secure transfers between individuals through UPI.
In short, a virtual payment address acts like a bank account address, but it operates as a proxy. In other words, instead of providing someone with your bank account information, you can simply provide them with your virtual payment address instead.
Virtual payment addresses look very similar to an email address. This information is what the sender will enter when sending a transfer to someone else. This approach makes sending transfers more secure and more efficient, facilitated through mobile devices.
What Is a UPI Money Transfer?
A UPI money transfer is digital payment that is facilitated through the Unified Payments Interface in India. It involves sending transfers through mobile devices using a virtual payment address instead of a bank account number.
How Do I Find My Virtual Payment Address?
To find your virtual payment address, you will need to have a UPI app already enabled on your mobile device. Importantly, you can use the specific app offered by your bank or you can use a third-party app from major technology providers like Google, Paytm, or PhonePe.
After enabling and logging into the app, you will be prompted to create a PIN for UPI transactions. After a PIN has been created, you can navigate to the account settings and access “Virtual Payment Address”.
The actual virtual payment address will vary for each person but it usually looks like an email address with a unique identifier, followed by an @ symbol, followed by the brand.
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Frequently Asked Questions
Below are a few of the most common questions we receive from people looking into the meaning of a virtual payment address. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
What Is VPA?
VPA is the abbreviation for virtual payment address, which is a unique identifier used to send and receive money over the Unified Payments Interface (UPI) network in India. In other words, individuals can give a VPA to another individual when they want to receive money from them instead of providing bank account details.
What Is the Format of VPA?
The format of VPA is a unique identifier, followed by an @ symbol, followed by the brand identifier. An example of a VPA is name@bank. As you can see, the format of a VPA closely resembles an email address, which makes it easy to understand and user friendly.
Is Virtual Payment Address and UPI Same?
No, virtual payment address and UPI are not the same. Virtual payment address refers to a unique identifier that is used for sending and receiving money between individuals in India. On the other hand, UPI refers to the Unified Payments Interface (UPI), which is the actual system that transfers using a virtual payment address are sent through.
How Do I Find My VPA?
You can find your VPA by downloading and enabling a UPI-enabled mobile app. You can either use a specific bank application or a major technology payment app like Google Pay. Then, you will need to create a UPI PIN. Finally, you will navigate to the “Virtual Payment Address” section in your account settings and locate your VPA.
Do I Need a VPA When I Use My Credit Card Online?
No, you do not need a VPA when you use your credit card online.
Do I Need a VPA to Deposit Money into My Bank Account?
No, you do not need a VPA to deposit money into your bank account.
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