What Is VPA? How To Create VPA And Send Money Through It?

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The Virtual Payment Address is an address given to the user of UPI payment system. VPA can be used to transfer funds. You don't need any details like bank account number, IFSC code, etc., to transfer money; the virtual payment address replaces the bank account details.

How to create a VPA?

Download the UPI mobile application in your mobile from the play store and create a VPA. The VPA will act as your financial address. For transacting money through UPI net banking ID and password is not required.

Just like mail addresses, we can give VPA and check for the availability. If the given address is available, proceed. Otherwise, try another address.


Link bank accounts

Once the VPA is created, you can link your bank account to your VPA by generating and using an MPIN for this account. It is possible to link more than one bank account to your VPA.

How to send money?

For sending money using UPI, you need VPA of the receiver. Login to the UPI-enabled bank app and select send money and click on the UPI option. Click on 'pay to virtual payment address.'

Enter the receiver's virtual ID, and enter the amount that needs to be sent and select the account from where the money is to be sent. Then a confirmation screen appears, review the payment details and select 'submit' to make the final payment.

Cost factor

No fee is charged for the use of the UPI platform in case a person transfers money to another person.

The limitations

The transaction cap using VPA and UPI is Rs 1,00,000. It is subject to the UPI guidelines. This may change from time to time and is subject to UPI guidelines. Some banks may levy additional per-day limits based on other transactions carried out via the mobile banking app.


Read more about: upi, vpa
Story first published: Saturday, May 27, 2017, 13:57 [IST]
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