UPI has gained more popularity in recent years due to its wide usage. People have become more tech-savvy and prefer the digitalized versions to the core of their day-to-day lifestyle. Considering that point, when it comes to day-to-day activities, money is one of the inevitable factors that no one can neglect using. So, why don't people want the more comfortable digitalized options to transfer money when plenty of options like online payment apps and platforms are available? UPI comes into the picture of online payment apps,; with UPI, you can make transactions easily and in peace. Each person will have a unique ID when you use UPI for your account. So, there is nothing to worry about it. In this blog, we are going to discover that if you change the UPI app, will you be required to register again, or will you be able to use the same virtual address?

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UPI and most common UPI apps

UPI stands for Unified Payments Interface, and this is a real-time, instant payment method. It is used in online payment applications like Google Pay, PhonePe, Paytm, BHIM, etc. It was launched in 2016 and in the present day, it has been functioning like the world itself runs around it, which refers to the omnipresent nature of UPI. It provides a cashless, easy and seamless transactional experience for you to transfer money to a person or merchants or pay the bills. Therefore, it is evident that the payment process is straightforward, which makes you choose this option over other payment methods.

In order to make a payment with UPI, the primary step is that you need to create a UPI ID for your account. after that, it will ask you to set up a UPI PIN, which will act as a password kind of thing whenever you are making or initiating a transaction. The final step in confirming the payment will be entering the UPI PIN. To generate a UPI ID, there are certain details that must be there to enter. It includes a bank account, which has your mobile number linked with it, a UPI payment app and an internet connection. If you want to change your UPI app also, you can change as per your preference. With all these, you can create your UPI ID and enjoy hassle-free and user-friendly transactions.

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What is VPA?

Virtual Payment Address is the expanded form of VPN. It is a unique ID created with the UPI apps, and it varies from person to person. With this VPA, you can track users' accounts without their details. You just need their VPA or the QR code associated with the VPA, and with this single piece of information, you ca n pay to their account. It might be unclear since VPA and UPI ID are used for UPI transactions. There is nothing to be doubtful about or confused about because both VPA and UPI ID are the same thing, and the name or the term is the only difference. This VPA acts as an ID for your UPI account, which is why it is called a UPI ID. Otherwise, there is no difference between them.

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If I change my UPI app, will I be required to register again?

It is reasonable that sometimes you would like to change the payment apps or use multiple apps for transactions atat your convenience. At those times, you might feel that having the same VPA or UPI ID for all the apps would be better. Let us see if any options are available if you change your UPI app.

So, here is the factual thing about UPI apps. Each UPI payment app will have its unique VPA, and that makes it difficult and even impossible to use the same UPI ID if you change your UPI app. It answers 'yes' to whether I will be required to register again if I change my UPI app. This is because each app is unique and must not be identical when it comes to more sensible actions like money transfers. Thus, for security purposes and for the privacy policy of the UPI apps, you won't be able to use the same VPA for all the apps for transactions. You can create a new virtual address when you switch to a different payment app.

The structure of VPA or UPI ID will be associated either with the email linked with the bank account or your mobile number linked to your account, or sometimes it might be a kind of alphabet. The basic format of it might look like either abcdefg@upi this or 123456@upi this. Again, it gives us the option to choose which kind of VPA structure you want for your UPI app. The suffix of @upi determines the application you're using for the payment. Because each UPI app will have its own suffixes, depending upon the banks they are integrated with.

For example, PhonePe might have the suffixes @ybl, @ibl or @axl. Google Pay will have the suffixes @okaxis or @oksbi, @okhdfcbank, or @okicici. On the contrary, Paytm has its VPA format combined with the suffix @paytm. These differences in the suffixes merged with UPI apps make getting the same VPA over other UPI apps impractical and unfeasible. Henceforth, it creates the demand to have different Virtual Payment Addresses for different UPI applications.

Sometimes, the question may arise when you use the same mobile number while creating the virtual address, like why can't the same mobile number have the same virtual address? Again, the answer is that the UPI apps are different and specific in which bank they're associating with. As a result, or at the end of the analysis, it is advocated that changing your UPI app requires you to change the virtual address with no other alternative choices.

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Reason for the change in VPA with different UPI apps

The prime reason for the difference or need to create a new Virtual Payment Address with varied UPI apps will be their affiliation with the banks or the Payment Service Providers (PSA). Since not all the apps will have the same PSA, it justifies why you must register again and create a new VPA when you change to a new UPI app.

If we check Google Pay's Payment service provider, it has numerous service providers compared to PhonePe. It has been allied with service-providing banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, and Axis Bank. When we look at PhonePe’s partnership, it is combined with Yes Bank, ICICI Bank, and Axis Bank. This difference in the payment service provider clearly explains the reason behind unique UPI IDs and the need to create a new virtual address when you try to change your UPI.

Perks of Virtual Payment Address

Privacy and protection: The most prominent perk of Virtual Payment Address would be its confidentiality with the details, as it doesn't share details like account number or any other account-related information. This is vice versa too, because you won't need any other details than the virtual payment address or its QR code to initiate the transaction. It makes the job way simpler because it doesn't require personal details while transferring the money.

Round-the-clock accessibility: When you use UPI for your payment, you don't have to be conscious of the timings. Because it has 24/7 accessibility, VPA works round the clock, making money transactions possible at any time, whether day or night.

User-friendly options: Payment through a virtual address has become one of the user-friendly and widely accepted modes of transactions. Its specifications like you can transfer money to a person, merchant or any organization more effortlessly and seamlessly within a few seconds or minutes. You don't have to collect their bank details like account number or IFSC code to initiate a payment. All you need is one piece of information, either their VPA or its QR code, to scan and make the payment.

Transaction history: With VPA, you have the advantage of having the history of your transactions, which includes the details of the amount transferred, the date and time of the transaction, and to whom you made the payment. It is always good to have a hold of transaction history because sometimes, we might want to look at the details for some purposes. In those scenarios, this feature of VPA stands out.

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Conclusion

Virtual Payment Address can be considered a blessing for all of us in multiple ways. In this fast-paced lifestyle, it would have been havoc if we didn't have a platform where we could transfer money instantly. It justifies why VPA is inevitable in our life and its the upper hand in wide usage. There are various UPI payment apps available and with that, we can make transactions as per our convenience and preference. Each app will have its own set of procedures and connections with the banks or service providers. In this blog, we have seen if it is required to register again for your virtual payment address in UPI when you change your UPI app and also the reason behind the need to create a new one. Following that, it is also elaborated on the ways in which these virtual addresses work and how it is distinct for each and every UPI app.

FAQs

Are UPI ID and VPA same?

Yes, the UPI ID and VPA are the same things but with different terms. VPA's abbreviation is Virtual Payment Address, which describes it as a unique ID given to you when you create your account with UPI. Thus, it can be perfect to call it a UPI ID, too. The function of VPA is to receive or send money with its ID, thereby not sharing any personal details related to your bank account. You can just share your virtual address or the QR scanning code linked with the virtual address to receive money. The same process goes for sending money. You can share it either via the receiver's UPI ID or their virtual address' QR code to make the payment.

Can I link multiple bank accounts under a single VPA?

It is totally possible to link multiple bank accounts to your VPA in the UPI app. You can add the bank accounts in the UPI app, and you have to select an account that will be primarily used for transactions. However, you can change the account from which you want to make the payment during the transaction.

How to send money with VPA?

Sending money through VPA is one of the easiest and the quickest way among the transaction apps. In order to send the money, you need to have either the VPA or its QR code. Now, let us look into its simple steps.

1: Login to your UPI app by entering the pin or its biometric system

2: You need to select the option of 'Fund transfer through UPI.'

3: You can now enter the beneficiary or receiver's VPA and confirm that it is the right one.

4: The next step is where you can enter the amount which you would like to transfer to the receiver.

5: After that, it will ask you to enter the remarks if there are any. This is not a compulsory thing to enter. If you wish to add some details to the payment, you can add it in this section.

6: You are good to select the VPA of the preferred bank account

7: Always double-check the details you have entered

8: You can validate the transaction using the PIN you have set for that

Is it safe to share my VPA?

Yes, you can share our VPA because it is always better not to share your account details, right? So you can share the VPA instead of more information like account number. However, you need to make sure that you are not sharing your pins or passwords or anything like that.

Does VPA expire if I'm not using it?

No, your UPI virtual payment address will not expire or become invalid if you don't use it. But, if you are not using it for an extended period of time, there are chances that you might have to reactivate it.

Does UPI ID have the option of deactivating it?

The UPI ID will not be deactivated or inactive if you are not using it frequently. But if you wish to deactivate it, you can do it from your end. Here are the steps to do that:

1: Open your UPI app

2: Navigate to the bank account section

3: Select the bank account that has been linked to the UPI

4: You can now choose the option of deactivate or delete the UPI ID

5: The final step is confirming the deactivation

How can I cancel a VPA transaction?

There is no option to cancel the transaction with VPA once it is successfully processed. Hence, double-checking if we are making the right transactions is always better.