VPA Full Form in Banking | Full Form of VPA




VPA Full Form - Virtual Payment Address

 Virtual Payment Address

Virtual Payment Address

  • The full form of the VPA is Virtual Payment Address. It’s a singular address of bank account holder. It’s used to make payments through the UPI System.
  • The VPA is used in place of bank account number and IFSC .
  • If you've got used the UPI app, you want to have the VPA. Most of the apps itself creates your VPA. While some gives you the choice to line VPA yourself. No two people have an equivalent VPA. That's why; it's used to make payments.

Structure of VPA

 Structure of Vpa

Structure of Vpa

  • VPA is similar to the e-mail address. Like email address a VPA has 2 parts. The symbol of @ is used as separator between these two parts.
  • The suffix could also be same for several parts because it is set by the app and Bank. e. g. @sbi, @okicici, @ybl, @apl. The prefix part would be unique to you. Often it's taken from your mobile number.
  • The Google Pay uses the prefix of email address as prefix of VPA also. If your Gmail address is [email protected], the VPA could also be [email protected]

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How to Get a VPA

  • Firstly, install BHIM UPI app or the other UPI enabled app. And link your bank account with it. Then it creates a UPI ID automatically. This UPI ID is your VPA, i.e. Virtual Payment Address.
  • But don't confuse between VPA and UPI ID. Both are same. At the time of introducing of UPI payment system, only the term VPA was in use.
  • However, within the times, UPI ID and UPI address also are in use. Different apps use different terms. Like, BHIM app and Paytm use UPI ID, PhonePe uses VPA and Google Pay uses UPI address.

Why must you use VPA rather than Account Number ?

  • Transaction through the VPA takes not only less time, but it helps those that don't want to use net banking or mobile banking. Allow us to see the explanations why you need to use VPA rather than Account Number
  • No got to fill the bank account details whenever. Once you've got linked, the cash are going to be deducted from your bank account through the mobile.
  • You can create and save multiple VPA in your app. But you've got to pick one as a default VPA address. Even you'll modify the VPA made by your app.
  • It is safe and easy. The beneficiary can see only your VPA and not your bank account details. And nobody can access your bank account details through the VPA.
  • You can track all the transactions through the only VPA.
  • You can determine the VPA of the beneficiary without asking him. Just enter the mobile number of the receiver, suffix with @ and UPI app name. Tap on verify. If it exists, details of the receiver will appear to you.
  • The receiver details become verified within a couple of seconds. No got to ask account number and IFSC code from the receiver.


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