What is VPA in the UPI System?

3 MIN • LAST EDITED BY ULFATH JOAD ON AUGUST 21, 2024.
Fi.money
Written by Ulfath Joad on APRIL 24, 2024.
LinkedInX
Table of contents
  1. UPI Made Simple with VPA in UPI
  2. Creating a virtual payments address
  3. How is Money Transferred?
  4. Frequently asked questions

The sheer convenience that online transactions provide is the main reason for their rising popularity. Whether it is the transfer of money or the payment of bills, it is key to know how online transactions function. The Unified Payments Interface  (UPI) is a revolutionary payment mechanism that makes digital payments easier than ever before. VPA in UPI is something you should grasp.

UPI Made Simple with VPA in UPI

UPI represents any transaction that is made in real-time and is instant. These transactions are enabled through smartphones. In fact, in the current Economic Survey (2023), UPI payments made up 52% of all payment transactions.

VPA stands for  Virtual Payment Address. As you benefit from UPI, you should know how VPA works to facilitate the UPI process. Virtual Payment Process (VPA) is essentially a unique personal ID, enabling you to receive or send money from your bank account via UPI. Like your phone number is specific to you, a VPA is unique to a user.

This brings us to the question of VPA’s role in the UPI system. The Virtual Payments Address is a direct routing of payments that go straight into your bank account. You do not have to share your personal bank account number or the IFSC code. You can just share that address with the other party in your transaction, and money can be easily transferred/received.

Creating a virtual payments address

In UPI payment, the VPA is crucial and is formed according to a standard format. Your name comes first, followed by the bank’s suffix. So, the VPA may look something like this: username@yourbankupi.

When you are all set to create your personal VPA, you have to first get a UPI app on your smartphone. This could be a mobile app of your bank or an app for a third party. Third-party mobile apps such as Paytm, Google Pay, etc., enable convenient and rapid transactions. Once any of these apps are installed, it is easy to click on the option to generate your VPA.

Once your VPA in UPI has been established, you can connect your bank account to the new VPA. You can do this with the creation of an mPIN. This is a passcode, 4–6 digits long, and every time you make a transaction, this will have to be entered on your smartphone. Of course, the phone number with which you are creating your VPA in UPI will have to be the same as the one registered with your bank. Once you create the PIN, you can go ahead with making transactions.

How is Money Transferred?

In case you wish to make a payment, you need to have the receiver's VPA or UPI-linked mobile number. In your UPI app, you can select an option to “pay with VPA” “pay using phone number” or “pay with QR code”. Once you choose the mode, you can enter an amount, and your password and click to pay.

Money Transfers Made Easy

This is the simplest method to transfer funds. Bank details do not have to be shared, so the layer of security this provides is appealing to most users. It is also a convenient way to make cashless and transparent payments quickly. If you wish to open a bank account to use UPI, you can try Fi and do so. Sign up with Fi Money to make it your all-in-one app. This could be your savings account, investment platfrom, and UPI payment app!

Frequently asked questions

How do I pay via VPA?

You can make payments via VPA through UPI by logging into your UPI and entering the beneficiary’s VPA along with the amount to be transferred.

Is VPA the same as UPI ID?

VPA is a unique identifier of your account. This permits other parties to identify transactions you make as being exclusively your own (and not someone else’s). UPI ID is essentially the same as VPA.

How do I get VPA on Google Pay?

Open your Google Pay app. Go to your profile and click on that. There will get the option called “bank accounts”. Click on it. You can choose the bank account for which the VPA is. Lastly, opt for the VPA to be used related to the bank account through which transactions will be made.

Send it to someone who might find it helpful
Know more. All that you'll ever need to learn.
Scan QR to get the Fi app
Your Privacy.
Minus the jargon.
arrow
No Hidden
Fees!
arrow
Join the
team.
arrow
Fi logo
Pronounced  Fī(-ē) and sounds like
volume
hi
Greeting emoji
sky
Sky emoji
tie
Tie emoji
fly
Fly emoji
Contact Fi Money customer care
In-app chat
instagram
twitter
linkedin
Disclaimer: You may have noticed some brand logos used on this website to indicate where you, as a user, may or may not have spent money. We don’t endorse these brands. Nor do these brands endorse us. The logos of the specific brands are owned by them.

Products on our platform

Details

Unified Payments Interface (UPI)

Epifi Technologies Pvt. Ltd ('Epifi Tech') is a Third-Party App Provider ('TPAP') - and acts as a service provider and participates in UPI through a Payment Service Provider ('PSP') Bank (Federal Bank).

Savings Account and Deposits

Federal Bank offers savings account, fixed deposits and smart deposits to users on the Fi App (through Epifi Tech). Users' savings account and deposits are securely opened with Federal Bank.

Epifi Tech itself is not a bank and doesn't hold or claim to have a banking license.

Cards

Fi Brand Pvt. Ltd. markets and distributes co-branded cards in partnership with Federal Bank and Visa. Cards are issued by Federal Bank.

Loans

Epifi Tech facilitates loan distribution and acts as a lending service provider and/or digital lending application for various Banks, registered NBFCs and NBFC-P2P ('Lenders') List of Lenders.

Epifi Tech only provides a platform that enables you to avail instant loans. Epifi Tech is not a lender; neither does it represent to be a lender in its own capacity. The Lenders provide you personal loans as per their policies

Mutual Funds

Epifi Wealth Pvt. Ltd. ('Epifi Wealth') is a registered investment adviser and provides a platform for mutual funds investment. Epifi Wealth has partnered with MFCentral to provide mutual funds analyser to users.

Loans Against Mutual Funds

Epifi Tech in partnership with regulated entities including Epifi Wealth and Bajaj Finserv provides a platform for loans against mutual funds.

Bajaj Finserv is a registered NBFC and provides loans as per their policies.

US Stocks

Epifi Tech has partnered with US stock broker Alpaca Securities LLC to provide users the option to invest in US stocks.

Connected Accounts

Epifi Wealth (as a financial information user), in partnership with Finvu and Onemoney, provides users the option to link their existing financial accounts on Fi.

Credit Analyser

Epifi Tech (as a non-specified user) in partnership with Experian and CIBIL provides insights on users' credit scores

Fi-Coins

Fi-Coins are earned under a reward programme for engaging with products and services on the Fi App.

Fi Store

Fi-Coins can be redeemed on products and services listed on Fi Store such as merchandise, gift cards, air miles, among other things.

Insights

1. Net Worth: Helps users get a view of their financial Net Worth — in accordance with their assets & liabilities

2. Wealth Maximiser: Analyses your finances, shares financial reports to make informed money decisions

These products are governed by our Terms and ConditionsPrivacy Policy, and any other product and partner specific terms and conditions as communicated to you.

©epiFi Technologies Pvt. Ltd. 2025

Fi is a money management platform that offers the perfect solution for all your financial needs. The Federal Bank Savings Account offered through Fi is an online savings account that you can open in 3 minutes! It goes beyond online account opening, as it has helped reimagine the banking experience in India

Through Fi, you can do more: apply for an instant personal loan, pick from many types of Mutual Funds, select the best SIP to invest in US Stocks, apply for a forex-free Debit Card (works for select account plans) to use while travelling abroad, analyse/improve their portfolio, get a 360-degree view of your spend insights and take steps building wealth.

You can also utilise Fi's free personal loan resources, such as the Personal Loan and EMI calculator, before proceeding to the quick loan application process. All of this is why over 35 lakh Indians feel that Fi is the only financial app you will ever need.