What is mPIN and How to Generate and Change it?

An MPIN is a 4–6-digit password required for authentication on mobile banking apps. No payment can be made without entering the MPIN. The Reserve Bank of India (RBI) mandates a 2-way authentication process for mobile banking transactions, similar to using a debit card and PIN at an ATM. The MPIN serves as the first form of authentication for these transactions.

What is MPIN?
 

The full form of MPIN is Mobile Personal Identification Number. It is a 4 or 6-digit code required for authentication on mobile banking and payment apps. MPIN is essential for completing any transaction through these apps, as it provides a layer of security similar to a PIN used for ATM transactions. The Reserve Bank of India (RBI) mandates a two-way authentication process for mobile banking, and the MPIN serves as the first step in this process. Safeguarding your MPIN is crucial to ensure the security of your mobile banking activities.

How to generate MPIN?

It is mandatory to generate the MPIN for using mobile banking services. Users can generate the MPIN easily using the following methods:

1. Through UPI apps

UPI apps often use MPIN to provide banking services to users. UPI apps can also be used for new MPIN number registration, change etc. MPIN in UPI app can be generated in the following ways:

• Log into the UPI app by inputting the ID and password.
• Visit the account management option.
• Find here the option to set the MPIN.
• Stepwise, follow the instructions to create a new MPIN.

2. Through net banking

Net banking can even be used for generating the MPIN. To generate a new MPIN, the following steps must be incorporated:

• Open the banking portal and input the ID and password for the login.
• Locate the mobile banking option from the menu and choose the MPIN option.
• Select the “Setup MPIN” option.
• Authenticate the mobile number by inputting the received OTP on the registered number.
• Place the 4- or 6-digit MPIN code and then confirm.

An SMS in the registered number will pop up, which the user must confirm to set up the new MPIN.

3. Through the bank branch

Users can connect with the bank branch to generate a new MPIN. For this, users must fill up a form provided by the bank branch. After submitting the form, a bank representative will provide details of the new MPIN.

4. Through ATM card

Through ATMs, users can set MPIN as well. The method to set up MPIN using the ATM is as follows:

• Insert the ATM card into the machine.
• Place in the ATM passcode and select the “Confirm” button.
• Next from the menu, choose “Forgot MPIN/login password.”
• After authentication of data through OTP, users can generate a new MPIN.
• Once users have generated a new MPIN, a confirmation message will be sent to their RMN.

5. Through the USSD code

USSD (Unstructured Supplementary Service Data) code can be used to set the new MPIN. It is one of the prudent methods to set up the PIN for feature phones with no internet facility. USSD code uses a dialing pad for accessing the mobile service. The process can be initiated in the following ways:

• Dial *99# through your phone.
• Choose the “Generate MPIN” option by choosing the number mentioned before the service.
• Now enter the last six-digit number (space) expiry date and send.
• Directly input the new MPIN and send.
• A unique MPIN number will be generated.

The IDFC FIRST Bank mobile and internet banking platform provides a unified experience across devices, allows swift transfer through IMPS, RTGS and NEFT, instant bill payments, and offers easy access to transactions and loan details.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.