Beginners Guide: Virtual Payment Address for UPI Payments

Woman making a QR code payment in a bar

People have started using UPIs to pay their utility bills, recharge their phones, and make various merchant payments. It is a convenient payment mode with the lowest rate of transaction failure. Moreover, if you choose the best upi app for UPI scan payment, you also get cashback that you can use for future payments. The challenge people face with this payment mode is, remembering the virtual payment address UPI. The consumer needs to put this VPA while making payments, and the transaction will only proceed if the code is accurate. Let us understand the concept of VPA and how it is beneficial for UPI payments. 

What is a Virtual Payment Address?

VPA is the unique ID with which the UPI tracks a customer. This ID doesn’t match your bank account details or other personal details you put on the app; rather, it’s like your email ID. Any UPI-enabled app will ask the user to put VPA details. They will fetch the relevant information from this ID, and this way, the user wouldn’t have to put his bank account details each time they request or make a payment. 

The virtual payment address UPI is a combination of your details followed by the bank name. It can also be @UPI instead of the name of your bank. Your UPI ID would look something like [email protected] or [email protected] Your VPA depends on the app you use to make UPI scan payments.

How does the VPA work?

Once you download the UPI payment app on your phone, the next step is to sign up on it. You would have to fill in some details about your personal information and put your VPA on it. Remember to link the VPA to a bank account. Without this step, you can not move forward with the transaction. If you get the chance to choose the virtual payment address UPI for all your transactions, make sure to use something that is simple to remember, as you would have to provide these details whenever you request a transaction.

Benefits of Virtual Payment Address

This unique ID has a plethora of benefits for the user. Let us discuss a few points to understand why you should remember this ID every time you make a UPI scan payment. 

  • As you get a unique ID for all your transactions, you can track your spending conveniently no matter which app you use. This way, you can monitor all your transactions in one place without having to switch to multiple apps.
  • VPA allows you to make transactions from any mobile device on which you are using your number. All you need is an internet connection and a sufficient amount in your account to complete the transaction. 
  • Shopping is not the only thing with which a VPA helps. You can also transfer funds to an account of any bank using your ID. The transaction will finish within seconds, and the money will reflect in the account to which you made the transfer.
  • If you wish to find a beneficiary to make multiple transactions to the same user, it is easy to locate the user with the virtual payment address UPI. 

There are countless other perks that you can enjoy by opting for the UPI scan payment option. You will find this option with almost every merchant, so you can rely on it without bothering to keep the cash. The only thing you need to be careful about is, remembering your unique ID and choosing a safer platform to make any online transaction. If you stay vigilant and do everything carefully, we bet you would never want to switch away from this payment mode.

About the author

Gouri Jain

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