Virtual Payment Address (VPA) – What is VPA in UPI?

The way we pay for services and products has altered in recent years. The transition to a cashless economy has had a major impact on how we receive and send money.

With the help of the VPA (Virtual Payment Address), we can now send and receive money by just using a mobile phone. 

The UPI payment gateway uses your unique identification address to identify your permission with a certain account.

What is VPA?

A Virtual Payment Address (VPA) is a one-of-a-kind identifier that helps UPI payment gateways match your permission to a specific account.

VPA, like a postal mail address or an email address, assists in locating the owner, ensuring that transmitted money are received by an authorized person or the owner of a certain VPA.

VPA is provided by UPI service providers. A VPA does not require a bank account number, credit card information, or any other sensitive information, making it a safe way to transfer payments.

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What is my VPA in UPI ID?

UPI ID is another name for Virtual Payment Address (VPA). A UPI ID or VPA has the same format as a VPA, which is name@bankname. ramkumar@ibl, 345232@ybl, reddy234@hdfcbank, and so on.

Your UPI ID can be found on UPI payment gateway services such as Google Pay, Paytm, PhonePe, and others. The following instruction will teach you how to determine your VPA.

  1. Launch a UPI application, such as PhonePe.
  2. Click the Profile Icon in the top left corner of PhonePe’s home screen.
  3. Select My UPI ID from the drop-down menu.
  4. All of your UPI IDs will be listed in the PhonePe app.

How to create VPA?

A UPI payment system can be used to build a VPA. Consider the following steps to establish a VPA:

  1. Any UPI app (Paytm, Google Pay, etc.) can be downloaded.)
  2. Perform the required verification step and set up your account.
  3. A bank account must be linked to the UPI app.
  4. The app will now give you the option of creating a UPI ID or a VPA.
  5. A VPA has a specified format, such as name@bankname. Create your VPA and confirm your choice if the ID is available.
  6. Your VPA or UPI ID will be instantly activated and ready to use as a Virtual Payment Address.

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Uses and benefits of VPA

  • VPA allows you to keep track of the status of any of your recent transactions.
  • Because no information about your bank account is shared, the transaction is secure and confidential.
  • VPA is easy to remember, much like your phone number or email address.
  • VPA can be activated or deactivated at any moment.
  • VPA is available around the clock.

Transactions via VPA

Any Unified Payments Interface (UPI) application must incorporate an authorisation framework that uses your virtual payment address (or VPA) to send and receive payments in order to complete transactions.

Once connected, your VPA is used for all transactions made through your payment app.

How to transfer funds to a VPA?

  1. Any UPI app (Paytm, Google Pay, etc.) can be downloaded.)
  2. Select Pay or Send Money from the menu.
  3. Choose the option of Paying with UPI ID when making a payment.
  4. Fill in the UPI ID.
  5. Fill in the amount and send it to your beneficiary.

* To send funds using VPA or UPI ID, the majority of UPI applications follow a similar method.

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Is it safe to share my VPA with anyone?

Switch to VPA if you’re concerned about safety. By not requiring you to reveal your bank account information, VPA eliminates the risk of fraud. Instead, you give out your encrypted payment address.

You are the only one who has the accurate information on which to spend your money.

Is it possible to link multiple bank accounts to one VPA?

Sure, it’s conceivable. But, one of your virtual payment addresses (VPAs) must be set as the default address for sending and receiving payments.

Otherwise, you may have to indicate which VPA to send funds from or which address to receive funds from on a regular basis.

What is the expiry date of a VPA?

Virtual payment addresses are indefinitely valid. It makes no difference if your account is momentarily dormant because your address remains active.

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