The full form of RRN is Retrieval Reference Number.
Understanding Retrieval Reference Number (RRN)
The Retrieval Reference Number (RRN) is a crucial element in transaction tracking, particularly within the Unified Payments Interface (UPI) ecosystem. Let's break it down:
- Definition: It's a unique 12-digit number.
- Purpose: It's generated to record each transaction, ensuring that every transaction has a distinct identifier.
- Generation: It's generated by the initiating Payment Service Provider (PSP).
- Utility: This number is used to identify a specific transaction.
In essence, the RRN acts like a fingerprint for each UPI transaction, facilitating easy tracking and dispute resolution, should they arise. It’s a key component in ensuring the integrity and reliability of digital payment systems.
