Mypoolin - UPI FAQs

The payment options available are:

For pools (groups) that you are part of, you can pay via -
Credit / Debit Card / Net banking
Paytm
Mobikwik
UPI

For One to One Transfers
UPI(Unified Payment Interface)
"Unified Payment Interface" (UPI) is an instant payment system developed by National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over IMPS infrastructure and allows you to transfer money between any two parties' bank accounts by using unique identifiers like mobile number or VPA (a unique payment address) without using account numbers/ IFSC codes. This makes it easy to send or receive money; just enter a receiver's mobile number/ VPA and send him money instantly into his bank a/c!
VPA stands for Virtual Payment Address which uniquely links a user's identity with his/her bank a/c. For instance, the VPA for Mypoolin customers is in the format xyz@ybl or xyz@yesbank. You can just share your VPA with any merchant site and it can make a payment request to you. You can also send money to anyone by using just their VPA instead of their mobile number. There is no need to share private and confidential information like bank account number/ IFSC code, etc.
Not as of now (though you can send money to any VPA in the UPI system all across India). In the near future, you may be able to link and save multiple virtual addresses on Mypoolin in 'My Account' on our mobile app
Yes, you can pay by that way as well. This case will typically arise when you are trying to send money to a person A using UPI on Mypoolin and that person A has not yet registered on our app. In that case, you can choose to enter his VPA manually in the app when prompted to.
You need your mobile number registered with your bank and you should be able to receive SMSs from your bank on this number. But your account does not necessarily need to be enabled for mobile banking in order to use Mypoolin / UPI.
Yes, one VERY important thing to check is that your phone number (registered with your bank) should be the same one that you are selecting when registering on our app. Please ensure to choose the correct SIM when prompted by our app and also ensure that the same mobile number is enabled for SMS sending and receiving in your phone settings.
Not at all. As long as you use a mobile number registered to your bank account, we will pre-fetch the details from your bank. All the information exchange happens over secure banking networks and we don't store it, so don't worry- your information is safe!
Yes, now you can also link multiple bank accounts with your existing virtual address (xxxxxxxx@yesbank) on Mypoolin. Hence, we are your one stop place for all your UPI payments. Simply ensure that you are on the latest app version, go to 'My Account' and then click on 'Manage Bank Account' to link another bank account with your virtual address.
Yes, now you can also un-link (delete) your bank account with your existing virtual address (xxxxxxxx@yesbank) on Mypoolin. Hence, we are your one stop place for all your UPI payments. Simply ensure that you are on the latest app version, go to 'My Account' and then click on 'Manage Bank Account' to un-link (delete) your bank account with your virtual address.
Do not get alarmed. This is a feature of the UPI payment platform (built by NPCI- an RBI regulated entity). The UPI platform retrieves the accounts details linked with your mobile number in a masked manner- i.e. Mypoolin can't see all the details. This exchange is done over secure banking networks and we don't store or ever use it.
Mypoolin is very safe. Every transaction on Mypoolin requires you to enter your MPIN which is known only to you. You should not share this MPIN. In addition, Mypoolin has an app password which deters unauthoized access. In addition all transaction initiated over Mypoolin are carried out over secure bank networks and all communications between Mypoolin and banks are over encrypted channels.
MPIN (mobile personal identification number) is a 4-6 digit secret code issued by your bank when you sign up for mobile banking. This MPIN is used to authenticate all fund transfers made via mobile banking over the IMPS or UPI platform. In the Mypoolin app, you have to enter this MPIN to authorize all bank transactions.
Yes, your UPI Mpin is completely different from your ATM pin as well as your mobile banking PIN if any. Remember that you would need to set a new MPIN for UPI and once set, this can be used on all UPI transactions in any UPI enabled app.
It is super easy! Go to side menu --> My Account. Select "RESET MPIN" Enter your last 6 digits of the Debit/ATM card details and expiry date. An OTP will be sent via SMS to you. Enter the OTP along with the new MPIN and you are good to go. Kindly note that this MPIN needs to be different from your last 5 MPINs.
The easiest and fastest way to set or change your MPIN is via the Mypoolin app directly. However, if you are getting an error while doing this, you can set/change the MPIN via your bank's app as well (the screens will vary from bank to bank)
Don't worry! In case you forget your MPIN, you can reset it. Go to side menu --> My Account. Select "RESET MPIN" Enter your last 6 digits of the Debit/ATM card details and expiry date. An OTP will be sent via SMS to you. Enter the OTP along with the new MPIN and you are good to go. Kindly note that this MPIN needs to be different from your last 5 MPINs.
No problem, the app will prompt you to re-enter the correct MPIN.The maximum number of tries allowed, depends on your bank. Please check with your bank for details.
This happens very rarely in the case of bank network issues. In case you faced a proxy error when paying using UPI on Mypoolin, don't worry as the debited amount will get reverted to you in a matter of 3-5 working days.
No worries. If you lose your phone, the MPIN required to authorize all transaction will never be known to a third person and hence he will not be able to debit money. Just as a backup, please call our customer support (+91-9599771577) and have your account temporarily blocked.
Kindly check if our app (Mypoolin) has been granted the permissions to read & send SMS by going into the settings of your phone (as per your device model). After enabling them, click on 'Accept' in that popup and our partner bank Yes bank will auto verify your device by sending a SMS and reading it.
This will be asked to you when re-linking your device with our system at any point of time, in case it gets un-linked or you lose access. Hence, it is quite useful as a backup to get back to UPI on our app.