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What is Virtual Payment Address (VPA) in UPI?
The full form of VPA is Virtual Payment Address. VPA is a unique digital identifier within the Unified Payments Interface (UPI) system that allows for instant, secure fund transfers between bank accounts in India using mobile devices. Developed by the NPCI, VPA offers a seamless way to transact without needing to share sensitive bank details like the account number, branch name, or IFSC code. Instead, VPA serves as a single, secure address for receiving and sending money, streamlining the process for both senders and recipients.
A VPA acts as the user’s virtual identity, combining letters, numbers, or special characters into a distinct ID (e.g., name@bankname). By using a VPA, users can transact securely without exposing their actual bank details, making it ideal for peer-to-peer transfers, bill payments, and online shopping.
Virtual Payment Address (VPA) Example
VPA means Virtual Payment Address, and typically follows the format yourname@bankname
, such as john@examplebank
.
For instance, in PhonePe UPI, a VPA may look like johnSen@ybl
, while in Google Pay (GPay), it could be johnSen@okaxis
. The specific format may vary depending on your bank or payment service provider (PSP). Each bank or PSP (Payment Service Provider) has its own conventions for creating VPAs, ensuring uniqueness and simplifying identification during transactions. In the sections below, we will explore the formats and naming conventions used by major banks and UPI apps.
Read More: Unified Payments Interface (UPI): Meaning and How it Works?
Is VPA and UPI ID the Same?
VPA means Virtual Payment Address, and UPI ID/handle means Unified Payments Interface ID; both are essentially the same. In the Unified Payments Interface (UPI) system, the terms are often used interchangeably. A UPI ID or VPA serves as a unique identifier for users, allowing them to send and receive payments without sharing sensitive bank account information. This address typically follows a format like username@bankname
, simplifying the payment process by acting as a virtual identity for bank accounts on UPI platforms.
How Virtual Payment Address (VPA) Works?
Using a VPA in banking transactions is easy, beginning with creating the VPA and then using it for secure payments. Here’s how it works:
Step 1: Create Your VPA
- Open a UPI-enabled App: Start by downloading or opening a UPI-enabled app, such as Google Pay, PhonePe, or your bank’s mobile app.
- Set Up Your VPA: Within the app, navigate to the UPI or VPA setup section. Choose a unique identifier (e.g., yourname@bankname) as your VPA.
- Link Your Bank Account: Connect the VPA to your bank account within the app. This ensures that funds sent to your VPA will go directly to this account.
Step 2: Send Money Using VPA
- Enter Recipient’s VPA: To send money, simply enter the recipient’s VPA in the “Send Money” section of the UPI app.
- Specify the Amount: Input the amount you wish to transfer.
- Authorize the Transaction: Enter your UPI PIN to authorize the payment. Once approved, the money will be transferred instantly to the recipient’s linked bank account.
Step 3: Request Money Using VPA
- Enter Sender’s VPA: To request money, go to the “Request Money” section of the app and enter the sender’s VPA.
- Enter the Requested Amount: Specify the amount you wish to receive.
- Send the Request: Once the payment request is sent, the sender will receive a notification to approve it.
- Receive the Money: After the sender authorizes the request using their UPI PIN, the money will be transferred directly to your bank account.
With these steps, VPA eliminates the need for bank account numbers, branch details, or IFSC codes, making digital payments secure, quick, and user-friendly.
Popular VPA Suffixes of Leading Banks in India
When creating a Virtual Payment Address (VPA) for banking transactions, it is essential to understand the format of VPAs for different banks.
Here are 5 examples of VPA suffixes for leading banks:
- State Bank of India: @sbi
- ICICI Bank: @icici
- HDFC Bank: @hdfcbank
- Axis Bank: @axisbank
- Punjab National Bank: @pnb
It’s important to note that these suffixes may vary depending on the bank and your platform.
VPA Suffixes of Top Third Party UPI Apps
Here is a table listing VPA ID suffixes for some popular third-party UPI applications:
Provider |
VPA Suffix |
PhonePe VPA |
@ybl / @ibl / @axl |
Google Pay VPA |
@okaxis |
PayTM VPA |
@paytm |
Amazon Pay VPA |
@apl |
How to Create a Virtual Payment Address (VPA)?
When you register on a UPI-enabled app, a Virtual Payment Address (VPA) may be automatically generated for you once you link your bank account with your registered mobile number. However, you also have the option to create a unique VPA of your choice.
Here’s a step-by-step guide on how to create a VPA:
STEP 1: Download the UPI-enabled app from your bank or any other authorised provider.
STEP 2: Verify the mobile number linked to your bank account.
STEP 3: Select your bank from the list of available options.
STEP 4: Set up a UPI PIN if you are linking your bank for the first time.
STEP 5: Enter a unique VPA of your choice, such as yourname@bankname.
STEP 6: Link your bank account using the VPA and set it as the default transaction account.
Once your bank account is linked via UPI, you can easily make payments using your VPA. It provides a user-friendly and secure way to transfer funds. With a VPA, you no longer need to remember or share complex bank account details during transactions. Instead, you can simply share your VPA with others to receive money.
How to send money via VPA?
To send money via Virtual Payment Address using your UPI app, follow these simple steps:
STEP 1: Log in to your UPI-enabled app.
STEP 2: Select ‘Fund Transfer through UPI’.
STEP 3: Enter the beneficiary’s VPA, amount, and remarks (if required).
STEP 4: Choose the VPA linked with your desired bank account.
STEP 5: Confirm the details.
STEP 6: Validate the transaction using your MPIN.
Once you have followed these steps correctly, your payment will be processed and sent to the recipient’s VPA instantly. You can easily track the status of your transactions within the UPI app.
Related Read: What Is mPIN & How to Get and Change an MPIN?
How to receive money via VPA?
To receive money via VPA through a UPI-based mobile app, follow these steps:
STEP 1: Log in to the app and select UPI.
STEP 2: Click on the “Collect via UPI” option.
STEP 3: Enter the sender’s or payee’s VPA address.
STEP 4: Specify the amount and add any remarks if necessary.
STEP 5: Choose the VPA account you wish to receive money in.
STEP 6: Submit the details for approval.
Ensure that you have a valid VPA linked to your bank account for seamless transactions.
Related Read: What is the SBI UPI Transaction Limit Per Day?
Uses and Benefits of Virtual Payment Address (VPA)
Virtual Payment Address (VPA) is an integral part of the Unified Payments Interface (UPI), which has gained popularity as the most common mode of payment in recent years. VPA simplifies online transactions by eliminating the need for bank details and providing enhanced security.
Using VPA in banking transactions lets you enjoy hassle-free and secure electronic transactions. This makes it a convenient option for businesses and online retailers. So, let’s start by understanding what is virtual payment address in detail.
Here are some key benefits of using VPA for your money transfers:
1. Simplified Transactions
With VPA, you no longer need to share complex bank details like your account number or IFSC code. Instead, you can simply provide your VPA to initiate a banking transaction. This simplifies the payment process and saves time, especially when dealing with frequent transactions.
2. Enhanced Security
VPA provides more security than fund transfer methods like RTGS or NEFT. When making VPA payments, your bank account details remain confidential, reducing the risk of unauthorised access. Additionally, transactions made through UPI are authenticated using two-factor authentication, further enhancing security.
3. User-Friendly
VPA allows cashless payments to friends, relatives, businesses, merchants and employees without disclosing sensitive bank account details. You can create customised VPAs that can be easily remembered and shared with others when conducting transactions.
4. 24/7 Account Access
With VPA, you have 24/7 access to your account details on the UPI app or any UPI-enabled platform. This lets you conveniently check your balance, view transaction history, and manage funds anytime.
5. Transaction Tracking
Every VPA fund transfer is tracked on the UPI app or platform. This provides useful information about each transaction, such as date, time, recipient’s details, and transaction ID. You can easily track all your payments in one place for better financial management.
Related Read: What is the Difference Between BHIM and UPI?
UPI Autopay
UPI Autopay automates regular payments through the Unified Payments Interface (UPI), allowing users to set up recurring payments for utility bills, subscriptions, and loan installments without manual intervention.
Supported by banks and apps like SBI, HDFC Bank, ICICI Bank, PayTM, PhonePe, and Google Pay, UPI Autopay integrates seamlessly for easy payment management. Razorpay also offers UPI Autopay as part of its comprehensive payment solutions. With Razorpay’s UPI offering, you can effortlessly set up recurring payments using VPA, benefiting subscription-based services, utility bill payments, loan repayments, and more. This feature streamlines transactions, ensuring timely payments with minimal effort.
Read More: What are Google Pay Transaction Limits? Updated GPay Limit Per Day
Conclusion
Virtual Payment Addresses (VPAs) have become essential to modern payment systems. By providing a unique identifier for user accounts, VPAs enable convenient and secure transactions without having to remember and share complex banking details. You can easily create a VPA to send and receive money via multiple UPI-enabled apps and platforms.
The future of VPAs looks promising in the evolving landscape of digital payments, where they play a crucial role in streamlining transactions and enhancing the user experience. So, explore the benefits of VPAs and leverage them for hassle-free financial transactions.
Related Read: How to Find UPI ID Using Google Pay?
Frequently Asked Questions
1. What is a VPA in Google Pay?
A Virtual Payment Address (VPA) in Google Pay is a unique identifier that allows you to send and receive money without sharing sensitive bank details. It typically follows the format yourname@bankname.
2. How do I create a VPA in GPay?
To create a VPA in Google Pay, download the app, link your bank account, and register with your mobile number. You can either use the auto-generated VPA or create a custom one during the setup.
3. What is a VPA in PhonePe?
A Virtual Payment Address (VPA) in PhonePe is a unique identifier used for sending and receiving money through PhonePe UPI application. It allows you to transact without sharing your bank account details and is typically formatted as yourname@ybl / @ibl / @axl.
4. What is the meaning of VPA in Banking?
VPA, or Virtual Payment Address, is a unique identifier used in the Unified Payments Interface (UPI) system that simplifies online transactions. In banking, VPA allows users to send and receive money without needing to share sensitive information like bank account numbers or IFSC codes.
5. How do I find my VPA in Google Pay?
To find your VPA in Google Pay, follow these steps:
- Open the Google Pay app on your mobile device.
- Tap on your profile icon or the “Settings” option in the top right corner.
- Select “Payment methods.”
- Your VPA will be displayed under the UPI ID section.
6. How do I find my VPA?
To find your VPA, register for UPI services with your bank. Once registered, you can find your VPA in the UPI section of your banking app or by contacting your bank’s customer support.
7. What is the VPA in UPI ID?
The VPA in UPI ID refers to the Virtual Payment Address. It is a user-friendly identifier that replaces sharing sensitive information like bank account numbers during transactions.
8. What is the format of VPA?
The format of a VPA follows the pattern: [identifier]@[bankname]. For example, if your chosen identifier is “johnsmith” and your bank name is “abc bank,” then your VPA would be johnsmith@abcbank.
9. What is the difference between UPI and VPA?
UPI (Unified Payments Interface) is a system developed by the National Payments Corporation of India (NPCI). It allows users to make instant payments using their smartphones.
On the other hand, a VPA means a unique identifier within the UPI system that replaces sensitive information like bank account numbers during transactions.
10. Is it safe to share my VPA?
Yes, sharing your VPA with others for receiving money or making payments is safe. Your VPA contains no sensitive information like bank account numbers or passwords. However, it’s important to be cautious while sharing any personal financial information and only share it with trusted individuals or entities.
11. Will my VPA expire if I do not use it?
Your Virtual Payment Address (VPA) does not expire or become inactive even if you don’t use it. However, if your VPA remains dormant for an extended period, you may have to reactivate it.
12. Is it possible to change an existing VPA?
Yes, you can change or edit an existing VPA. This change can be done in the UPI-enabled application that you are using.