UPI Based Mobile Banking Applications – Security Analysis and Enhancements Mobile Banking service allows end user to perform remote banking transactions (both financial and non-financial) from his/her current location using the hand held mobile device anywhere-anytime. A variety of technology specific mobile banking solutions like IMPS (Immediate Payment Service), USSD (Unstructured Supplementary Service Data), SMS (Short Messaging Service) and UPI (Unified Payment Interface) [8] based app solutions (like BHIM (Bharat Interface for Money), GooglePay (Tez), PhonePe and Bank specific apps like SBIPay, AxisPay, iMobile, Mobile Money etc) are available to perform regular banking operations (like fund transfer, cheque request etc) and other payment [14,15] operations in m-shopping, metro card recharge, loan/credit card payment. Number of features and security level offered, varies with every application and are dependent on the mobile device capability, its operating system and inter