Today, we live in a world that is getting rapidly digitalised and where everything can happen with a mere click on the screen. The impacts of this rapid digitalisation are seen in all sectors, including finance. One of the ways in which it has completely transformed and revolutionised the financial landscape is by making digital payments not only a possibility but a reality. Cashless payments are the latest fad, and more and more people now prefer making online payments because of how quick, simple, easy and convenient it is. Safety from thefts and fraud is another big reason why digital modes of payment have garnered so much traction over the past few years. Be it shopping, travelling, dining or anything else, online payments have taken over.

What has made these digital payments and money transfers the preference of so many is UPI, or Unified Payments Interface. As the name itself hints, UPI is a system of making instant digital payments and money transfers that combines all your bank accounts into one mobile app. It is an Indian creation launched by the National Payments Corporation of India (NPCI).

Your UPI ID is unique to you and connects all your bank accounts into one mobile app, making money transfers instant and hassle-free. Using your UPI ID, you can make cashless transactions, and the best part is that you will not have to share any of your bank account information and details, thus adding an extra layer of security.

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Benefits of Having a UPI ID

Anyone can get a UPI ID by making an account on UPI apps such as Google Pay, Phonepe and Paytm. Having a UPI ID brings many benefits, and it is suggested that everyone use this method for their payments and other transactions. Let us discuss all of these various benefits one by one:

Instant Transactions: Old and traditional banking methods involved a little bit of a wait time before transactions were processed successfully and money reached from one bank account to the other. One of the biggest reasons why UPI has become such a hit is that with it, payments have become not just quick but instant. With just one click, the money is transferred from your account to that of the recipient at the same moment.

Cashless and Convenient: With UPI, people can now go cashless wherever they want. With the kind of popularity UPI has gained in India, everyone has a UPI account, thus eliminating the need for cash almost everywhere. This has naturally brought a lot of convenience into the lives of people who can make payments using their smartphones alone.

Another reason people find UPI payments so convenient is that they have completely eliminated the need to remember lengthy bank account details every time they need to make a transaction. People can now simply use their UPI ID and make the desired payments.

Easy to Use Interface: UPI would not have been such a hit if it had a complicated interface. Making payments using your UPI ID is quick and very easy. This is why everyone can use UPI, be it a young professional or even someone belonging to the older generation who is more used to traditional banking and payment methods.

Safety and Security: Anything involving people's money must make them feel secure, and UPI payments do exactly that. With multiple layers of authentication, including fingerprints, pattern locks, and the UPI PIN, your financial details and information are well protected.

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How to Deactivate UPI ID?

Even though having a UPI ID comes with so many wonderful benefits, people might want to deactivate their UPI ID for a variety of reasons. This could include things like their device being stolen that could lead to unauthorised access to their bank accounts, general security concerns, wanting to create a new UPI ID to link with a new and active bank account, or simply wanting to discontinue using UPI for payment purposes. Whatever the reason may be, it is possible for you to deactivate your UPI ID. Here is how you can do it:

Let us explore how to deactivate your UPI ID in two of the most popular apps - Google Pay and Phonepe. The steps to deactivate from other apps are similar as well.

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How to Deactivate UPI ID from Google Pay

Step 1: Open the Google Pay app on your phone and log in with your credentials.

Step 2: Your profile picture is at the top right corner of the home screen. Click on it.

Step 3: Click on the 'Bank Account' option and select the account you wish to manage. You will then be shown a list of all the UPI IDs linked to that particular account.

Step 4: For the UPI ID that you wish to deactivate, tap on the option 'Manage UPI IDs' and click on the trash icon.

This is it. You have now successfully deactivated your UPI ID on Google Pay.

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How to Deactivate UPI ID on Phonepay

Step 1: Log in to the phonpe app on your phone by using your username and password.

Step 2: Tap on your profile picture that is visible on the screen.

Step 3: Tap on the option labelled 'View all payment methods'

Step 4: You should now be able to locate the bank account that you wish to manage.

Step 5: Click the trash icon next to the linked UPI ID you want to deactivate.

Step 6: You will be prompted to confirm your decision to delete the UPI ID.

Step 7: Once you confirm that you want to delete the ID, the process will be completed, and your UPI ID will be successfully deleted.

It is also possible to deactivate a UPI ID by visiting your Bank's mobile app. Once you log in, you will be able to navigate to a section that allows you to manage UPI IDs. Once you locate the UPI ID that you want to deactivate, you will see a 'Deactivate' or 'Delete' option next to it. By clicking on it and confirming your deletion, you will be able to deactivate that particular UPI ID successfully.

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What Are the Consequences of Deleting a UPI ID?

In case you want to deactivate your UPI ID, there are a couple of things that you must keep in mind. These are the consequences of deactivating your UPI ID. In other words, this is what happens when someone deactivates a UPI ID:

1. Inability to Make Transactions in Future

This is an obvious one, but deactivating a UPI ID means that you will no longer be able to make transactions using that UPI ID. Whether you are transferring money to other accounts or making a purchase, deactivating your ID makes it completely unusable.

2. Erasure of Entire Payment History

It is possible that the app you are using might erase your transaction history once you deactivate the UPI ID. Any transactions you made in the past will be forever deleted from the record. This is important to know because some people might wish to retain their transaction history for multiple reasons.

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Conclusion

The coming of UPI has completely revolutionised the way payments work in India. With its extremely simple and easy-to-use interface, UPI allows each and every citizen to opt for convenient and cashless transactions. UPI, or Unified Payments Interface, is a digital system that allows instant payments. Before UPI, people had to wait for traditional banking methods to complete their transactions but now they can make payments and transfer money by just a single click on the screens on the phone. This is the reason behind the rapidly growing popularity of apps like Google Pay, Phonepe, Paytm, etc. Also, these apps have multiple layers of authentication, providing security and protection to their customers and keeping their financial details safe.

Despite having such wonderful benefits, sometimes people might want to deactivate their UPI IDs. There can be a lot of reasons behind this, such as a device being lost or stolen, general concern about security, or a mere wish to discontinue using the services. Whatever the reason may be, it is possible to delete your UPI ID. This can be done on apps you use, such as Google Pay, Paytm, Phonepe, etc, by navigating to the payments sections, locating the specific account and the associated UPI ID, and tapping the trash icon or the deactivate option. You will be asked for confirmation, and upon doing that, you will successfully deactivate your UPI ID. You can also deactivate your UPI ID by logging in on your bank app.

Once you deactivate your UPI ID, you will no longer be able to make transactions, and all ongoing transactions will stop. On certain apps, your entire payment history might also disappear. Keep these things in mind before you proceed to deactivate your UPI ID.

Frequently Asked Questions (FAQs)

1. Can I have multiple UPI IDs?

Yes. You can have multiple UPI IDs for the same bank account. For instance, on apps like Google Pay, you can have up to four UPI IDs for your bank account.

2. Can I reactivate my UPI ID if I delete it?

No. Once you delete a UPI ID, it will be deleted permanently, and it is not possible to reactivate it. Deleting a UPI ID means that you will no longer be able to use it for making any further transactions, and all your past payment history might be deleted permanently as well. Therefore, you must be sure before you delete your UPI ID. However, once deleted, you can create a new UPI ID if you want to.

3. Is it necessary to give my mobile number to get a UPI ID?

Yes, you must provide your mobile number to get a UPI ID. UPI IDs work on registered mobile numbers linked to your bank accounts.

4. I lost my mobile phone. Should I deactivate my UPI ID?

Yes. Many people deactivate their UPI IDs if their phone is stolen or they lose it somewhere. This is because it could lead to unauthorised access to all their bank details and financial information, which can further lead to fraud and theft.

5. Is it safe to use a UPI ID to pay?

Yes, using a UPI ID to make a payment is very safe and secure, and you can rest assured that your bank details are being protected. UPI uses multiple layers of encryption and authentication that make it very secure. Everyone has a unique UPI PIN that only they know. So, even if someone knows your UPI ID, they still cannot make a payment on your behalf without knowing your UPI PIN. So, as long as you do not share your PIN with others, it is quite safe to make payments using UPI.

6. I forgot my UPI PIN. What should I do now?

If you have forgotten your UPI PIN, you can visit your UPI app to reset it. To reset the PIN, you will be required to provide the last six digits and expiry date of your credit card. After submitting these details, you will receive an OTP on your registered mobile number. Once you enter this OTP, the verification will be completed, and you will be able to reset your UPI PIN.

7. Do I need to pay in order to create a UPI ID?

No. According to the regulations of the National Payments Corporation of India (NPCI), creating a UPI ID is free for everyone. In fact, all UPI services are free.