What is an mPIN: Full Form, Meaning, Example, How to Get and Change an MPIN?

What Is An mPIN Number?

The full form of a mPIN is a mobile personal identification number. It is important to understand that mPIN means a unique numeric 4 or 6-digit code for authentication and authorization in mobile banking and digital transactions. It plays a significant role in ensuring the security of financial transactions conducted through mobile devices.

Now, let us take an example of an mPIN number. To create and manage an mPIN, register with a bank or financial institution that offers digital banking services like a mobile money identifier. You will be asked to set up a personalised PIN during registration. This PIN acts as your mPIN.

The mPIN facilitates various banking services such as fund transfers, bill payments, and mobile wallet transactions. Whenever you initiate a transaction through your mobile device, you will be prompted to enter your mPIN to authenticate and authorise the transaction.

mPIN Meaning

Now you have a general understanding of what is the mPIN, let us discuss the meaning of the mPIN number. It is a 4 or 6-digit passcode you must enter whenever you wish to make a transaction. The mPIN is valuable because you do not have to enter IFSC (Indian Financial System Code) or other information each time you want to send or receive money.

You might have seen mPIN and UPI (unified payments interface) used in the same place many times, so now you might wonder what is UPI. The UPI is India’s leading digital payment platform. It does not have a minimum transfer limit, which enables consumers to use this payment mode daily. While this payment mode is still in its infancy, it has already made significant inroads into consumer mindset and behaviours. One does not think twice before whipping out a mobile phone and scanning a QR code or entering beneficiary details to make digital payments.

Without the need to memorise IFSC codes and bank details, UPI offers consumers a fairly straightforward way to make transactions at will. Now that you have an idea about what is UPI ID, let us talk about mPIN with examples.

mPIN Number Example

An example of an mPIN number is 172362 or 923813. Can be utilized before finalizing a payment through a banking or payment application. This assists the application in verifying your identity and account information.

How to Get mPIN?

You can follow these general steps to obtain an MPIN number online.

• STEP 1: Open your bank’s app and find the “Generate MPIN” option.
• STEP 2: Type in the last six digits of your debit card number and its expiry date.
• STEP 3: Check your registered mobile phone for an OTP and enter it to confirm.
• STEP 4: Choose the MPIN you want, then tap “Submit.

In the sections below, let’s explore how to generate an mPIN using various methods.

1. Through UPI Apps

• Sign in to your UPI app with your banking credentials.
• Go to the settings or profile section.
• Look for the option to establish an mPIN.
• Follow the instructions on the screen to generate and confirm your mPIN.

2. Through Net Banking

• Log in to your bank’s banking portal with your login details.
• Find the mobile banking section.
• Choose the option to set an mPIN. 
• Complete the required verification steps and select your mPIN.

3. Through the Bank Branch 

• Head to your bank branch.
• Seek help from a bank representative to create an mPIN for mobile banking services.
• Provide identification and account information for verification purposes.
• Follow any guidance provided by bank staff to finalise the process.

4. Through ATM Card

• Insert your ATM card into an ATM.
• Enter your PIN to access the menu options.
• Select banking or mPIN setup from the menu list.
• Follow the prompts to set up your mPIN securely. 

5. Through USSD Code 

• Dial the designated USSD code from your mobile phone.
• Choose the option for mPIN generation.
• Follow the instructions provided via the USSD menu.
• Provide the necessary card details for authentication and set your desired mPIN.

How to Change mPIN? 

Here are the steps you need to follow to modify your mPIN:

• STEP 1: Open your mobile banking app. Log in using your credentials or mPIN.
• STEP 2: Look for the “More” option or navigate to the “Settings” section within the app.
• STEP 3: Within the “Settings”, locate and select the option to change your mPIN
• STEP 4: Provide both your current mPIN and then input the new mPIN that you wish to set.
• STEP 5: Confirm the mPIN entry for accuracy verification.
• STEP 6: After confirmation, an OTP will be sent to your registered number for validation.
• STEP 7: Input the OTP within the specified timeframe to finalise and validate the updated mPIN.

Alternatively, if you prefer changing your mPIN through a UPI app, follow the above procedure for setting up an mPIN.

What Is the Difference Between UPI PIN, ATM PIN, and mPIN?

• An ATM PIN is a 4-digit code typically provided by the bank, used to authenticate debit card payments and ATM cash withdrawals.
• An MPIN is a passcode used to authenticate mobile banking payments such as IMPS and NEFT transfers, as well as payments on the National Unified USSD platform.
• A UPI PIN is a secure numeric code, either 4 or 6 digits long, used to authorize transactions in UPI-based payment apps like BHIM, Amazon Pay, etc.

You can understand the unique roles and functionalities of UPI PIN, ATM PIN, and mPIN in their banking activities by delineating these differences.

How Can You Register Yourself on a UPI App?

To use UPI, you must begin by downloading a UPI-enabled app. As there are many apps to choose from, you must consider your usage patterns before selecting the right one for your needs.

When you download an app for the first time, you must register yourself on it. The registration details you must fill out are your name, virtual ID (or virtual payment address), password, and bank details. Depending on the app you downloaded, you can link multiple bank accounts if you need to.

Once the basics are taken care of, you must create an m-PIN. Like an ATM PIN, an mPIN is a 6-digit passcode you must enter whenever you wish to transact. The mPIN is highly valuable because you do not have to enter IFS codes or other information each time you 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 goes into the wrong hands, you will not find yourself staring at huge transactions and an empty bank account the next day.

Who Can Use UPI?

Anyone with a registered bank account can use UPI as and when they like. This mode of payment functions outside of banking hours, giving you great freedom when transferring funds. The payment mode does not have a minimum transfer limit, so you can use it to pay your local vendors and merchants, pay for transport, clear utility bills, make purchases online, and make any remittances you may require.

UPI is a form of payment introduced by the National Payments Corporation of India (NPCI) and was created with the facilitation of a digital economy in mind. This is why the payment types that this mode facilitates are so accessible.

Best Practices for mPIN  Usage

For security, when using mPINs, adhering to recommended practices and guidelines is crucial. 

Here are some best practices to enhance the effectiveness of mPIN.

• Choose a Strong mPIN: Create a mPIN that is hard to guess and not linked to personal details. Use a mix of numbers, special characters and letters for security.
• Memorise Your mPIN: Avoid writing down or sharing your mPIN with anyone. Memorise it to safeguard your mobile banking account from access.
• Change Your mPIN Regularly: Update your mPIN frequently to lower the risk of entry. Set reminders to change it every month for added security.

Here are some common mistakes while using mPIN and how to avoid them:

• Weak mPIN Selection: One of the main causes of the error is the selection of straightforward mPINs that others can easily guess. Stick with the different patterns when choosing the PIN codes. It means you should not set easily identifiable combinations such as birthdates, sequential numbers or repetitive digits. Select a captivating and complex than others mPIN that employs alphanumeric and symbols – safeguarding it from withstanding unauthorised intrusion.
• Sharing mPINs: Your accounts will have a high risk of unauthorised access when you provide anyone with your mPin.
• Using Common Patterns: Use easy clues just as trying to make a sequence of numbers or geometric figures on a numeric keypad. 

Conclusion

An mPIN is a password for verifying mobile banking transactions. You must ensure the security of your information. Regularly updating and changing your mPIN can boost the security of your mobile banking operations. You can easily modify your mPIN through banking apps or USSD services. Understanding the importance of mPINs in transactions and financial safety is key. Remember to apply the insights from this article to manage your mPIN for a mobile banking experience effectively. We hope this article has helped you understand what is meant by mPIN number and what is mPIN in a bank.

Frequently Asked Questions (FAQs)

1. How do you use mPIN?

Your mPIN is used only when you transact through your mobile. Banks give this security code to their customers when they register for mobile banking.

2. How do you get your mPIN number?

Open the mobile banking app and click on ‘Forgot MPIN’. Fill in your details, add a new 6-digit MPIN and confirm your new MPIN.

3. Is mPIN an ATM PIN?

An mPIN differs from an ATM PIN. An ATM PIN is for using ATMs and debit card transactions, while an mPIN is for mobile banking activities. 

4. How do you get a 4-digit mPIN?

To get a 4-digit mPIN, you typically have to link your number with your bank and then create a 4-digit mPIN using the bank’s mobile banking app or USSD service.

5. How do you get a 6-digit mPIN?

To get a 6-digit mPIN, sign up for banking with your bank. Once registered, you can set up a 6-digit mPIN through the bank’s mobile banking app or at the bank’s branch.

6. How do you reset your mPIN password?

To reset your MPIN password, open your bank’s website or use the mobile banking app. Go to Profile Settings > Forgot MPIN > Enter your registered mobile number > Verify yourself using OTP (one-time password) > Provide other necessary details > Enter a new 4 or 6 digit mPIN passcode.

It’s important to follow your bank’s instructions to change or reset your MPIN, as the methods may slightly differ depending on your bank.

7. How does an mPIN differ from traditional passwords?

An mPIN is created explicitly for mobile banking transactions. Offers a layer of security compared to traditional passwords. It is a code that is easier to remember and more challenging to guess, making it safer for financial transactions done on mobile devices.

8. Can you use the same mPIN for multiple accounts or devices?

It is not recommended to use the mPIN for accounts or devices. Each account should have its mPIN to safeguard your transactions and personal details.

9. Is an mPIN more secure than other authentication methods?

An mPIN can be more secure than authentication methods since it is a code known only to the account holder.

10. Are there any common mistakes to avoid when using an mPIN?

When using an mPIN, avoid common mistakes such as sharing your mPIN with others and using numbers or patterns that can be guessed easily. Write down your mPIN in a secure place.

11. How often should you change your mPIN for optimal security?

It is advisable to change your mPIN for security. The frequency might vary based on your bank’s policy. Change it every 3-6 months as a practice to protect against potential security risks.