What is mPIN? Is It Safe (All You Need To Know)

By: Novjyot Pandey - September 19th, 2021

RBI keeps trying new ways to make banking services better and secure.

In this effort, RBI came up with a two-step verification guideline. Any transaction has to go through 2 stages of authorization.

Through this article, we will know what MPIN is and how it is related to Two-Step Verification.

Table of Contents

What Is MPIN?

MPIN Mobile banking Personal Identification Number is a 4 to 6 digit verification code required while doing mobile banking.

It has been included in mobile banking as per RBI’s two-step verification guideline.

According to RBI guideline, every bank must add two-step verification in mobile banking so that the user transaction gets additional security.

What Is MPIN Number?

MPIN is a 4 to 6 digit code used in mobile banking services like SBI Anywhere, iMobile app, u-mobile, etc.

Is MPIN safe?

The use of MPIN is entirely safe; the very purpose is to make the mobile banking system more secure.

MPIN adds an extra layer of security to our mobile banking, and It has been made entirely as per RBI norms.

What Is The Use Of MPIN?

MPIN is designed for Mobile Banking, under which it is used for SMS Banking, USSD Banking, IMPS Banking, NEFT Banking, and UPI Banking.

How to get MPIN?

If you want to do any transaction through Mobile Banking, then you will need MPIN to proceed.

Here’s Is The easiest way to get MPIN.

Dial *99# on your mobile phone.
Enter the initial three letters of your bank name or the first four letters of the IFSC code and send.
Now from the given options, enter the written number along with the generated MPIN and send.
After sending, you will be asked to enter the last 6 digits of your debit card along with the expiry date and press send again.
Finally, you have to enter the MPIN of your choice twice by giving space in between.
And thus, your MPIN will be generated successfully.

What If I Forgot My MPIN?

Here is how you can reset your forgotten MPIN

Go to your mobile banking application.
Click on Forget MPIN on the login page.
Fill in the correct answers to all the questions asked, like date of birth, debit card number, parent’s name, etc.
After filling in all the details, enter the MPIN of your choice and confirm once more.
After submission, your new MPIN will be successfully set.

Note:- To set your MPIN, go to the official mobile banking app of your bank.

Is MPIN and ATM PIN same?

MPIN and ATM PIN are two completely different things, which are used for various functions.

ATM PIN is a 4-digit Personal Identification Number that is used to make your ATM transactions more secure.

ATM PIN is used for POS, ATM, and online transactions, whereas MPIN is used for transactions done through mobile banking.

Is IPIN and MPIN same?

IPIN is a special feature used by many banks to reset net banking passwords.

Many times we forget the password of our net banking; in this situation, with the help of IPIN, we can access our net banking instantly.

We cannot do any transaction or fund transfer with IPIN, whereas we can transfer funds through mobile banking using MPIN.

Is MPIN And UPI PIN Same?

UPI PIN is used for transactions done through UPI app, whereas MPIN is used for transactions done through mobile banking.

Using UPI PIN, we can send money to anyone without waiting, but when it comes to MPIN, we may have to wait for 24 hours to transfer more than Rs 5000.

Is MPIN And Profile Password Same?

Profile Password is an additional layer of security for our Net Banking. At the same time, MPIN acts as an extra security layer for Mobile Banking.

When we try to access our net banking for the first time, the bank asks us to create a profile password later used to confirm our identity.

Whenever we make any change or transaction in our bank account, we need to use a profile password created by us earlier.

Is MPIN And MMID same?

MMID (Mobile Money Identifier) is a 7 digit identification number, which is different for each user. In contrast, MPIN acts like a password for mobile banking.

When we register our mobile number with any bank for the first time, the bank gives you a 7 digit number called MMID.

MMID protects our bank account number and IFSC code from being shared with anyone else.

Because whenever we send money to someone or do any kind of transaction, at that time, our MMID is shown to the other person instead of our bank account number and IFSC code.

Is MPIN And Transaction Password Same?

A transaction password is a password used to complete any transaction. In contrast, MPIN is used for logging in and transact in mobile banking.

The transaction password is the same as the login password but is used to identify the user before completing the transaction.

Note:- Never keep your transaction password and login password the same.

Final Thoughts

MPIN plays a significant role in making mobile banking easy. It does not require us to enter the net banking ID password again and again.

Keeping in view the increasing cybercrime, banks are recommending to all of us that we must keep our passwords long and difficult. But it is not a good idea to use these big passwords for every small transaction.

MPIN can be of great help in this stage; also, we can use UPI, contactless debit card or credit card, or cash for every small transaction.

I use mPIN for almost all my bank accounts, and it makes my banking experience better.

Article written by

Novjyot Pandey

I was born and raised in Madhya Pradesh, India. I attended Delhi Public School before spending Three years at college in New Delhi, where I attended Delhi University to earn a Bachelor of Commerce degree.