MPIN Full Form in Banking is mobile banking personal identification number.
Each mobile banking transaction requires a unique 4- or 6-digit passcode that the user has to set and remember.
It used to be that in order to transfer or receive funds, users had to supply information such as their name, address, bank account number, and IFSC code. However, with mPIN, customers can make online payments without worrying about recollecting such information. The use of this mPIN instead of these details is a significant security improvement.
How to create MPIN?
Since the significance of mPIN is tied to the bank’s online or mobile banking service, the procedure for creating a mPIN might differ from one institution to the next. mPINs can be generated in general by following the procedures outlined below.
- To create a mobile PIN, use your bank’s app and select the “Generate mPIN” button.
- Fill out the sections with information about your bank’s debit card.
- Enter the one-time password (OTP) provided to your registered cellphone number to verify the mPIN you just created.
- Just type in the mPIN you want to use and hit the ‘Submit’ button.
You will be alerted that the mPIN has been created once it’s done. After then, making purchases online just requires remembering your mPIN.