The facility of ‘collection’ i.e. payment request between persons (P2P) through UPI from banks and payment apps will be closed from October 1, 2025. Earlier, NPCI had said in a circular issued on July 29 that the process of P2P ‘collection’ will not be allowed in UPI from October 1, 2025.

P2P Collection in UPI means that the facility of ‘collection’ requests from banks and payment apps will be completely removed from the said date. The P2P feature is used to send requests for money to other UPI app users. It reminds them to share the amount. However, this feature is being used by fraudsters to cheat UPI users.

What is the purpose of NPCI?

NPCI said that all member banks, payment service providers (PSPs) and UPI apps are directed to make necessary changes in their systems and operational procedures to ensure that no P2P ‘collection’ transactions are initiated or processed on UPI after October 1, 2025. This decision means that all member banks and UPI apps (PhonePe, Google Pay and Paytm etc.) will not be able to process P2P collection transactions after this deadline.

What is the current arrangement

Under P2P collection, currently a maximum of Rs 2,000 can be collected from an individual per transaction. Also, the limit of successful transactions is 50 per day. This means that currently a transaction of Rs 1 lakh is allowed in a day under this facility. Rahul Jain, Chief Financial Officer, NTT Data Payment Services India, said that by removing this facility, UPI (Unified Payment Interface) has strengthened its position as a fast and easy, secure and reliable platform.

What will be the new change?

NPCI had set a transaction limit of Rs 2,000 in the year 2019, but fraud continued. This step will act as a security measure for the users and now such fraud will be prevented. Under this change, a measure will be taken to reduce fraud by removing the high-risk channel. Now all P2P transactions will be initiated by the users for which the users will have to scan the ‘QR code’. He said that in this situation the users will have full control over their transactions.

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UPI is being used for every purchase, big or small. If you don’t have money in your pocket but have a mobile phone, then you don’t need to worry. Payments for everything from vegetables to luxury items are being made using UPI. The biggest thing is that it is free. This means that you don’t have to pay any fee for making payments through it. The question is, will it no longer be free?

UPI cannot be free forever

RBI Governor Sanjay Malhotra made it clear on August 6 that the system behind UPI cannot remain free forever. While presenting the August monetary policy, he said that the real issue is to decide who is paying the cost of UPI payments. He said that the government has to take a decision in this regard.

Businesses currently bear the burden of MDR

He said, “I never said that it (UPI) will always remain free. He said this in response to a question related to Merchant Discount Rate (MDR) or such charges.” He was asked whether the burden of MDR can be put on the customers? First it is important to know about MDR. This is the fee that is levied by payment processing companies on shops or other businesses that accept payments through credit or debit cards.

Someone is paying the cost of UPI

Clarifying the situation, Malhotra said that I believe that this (UPI) cannot remain free forever. He said, “Someone is bearing the cost of this. The government is giving subsidy. But, somewhere the cost is being paid.” He said that he never said that the user will have to pay this cost. Instead, he seemed to be in sync with the government’s stance in this matter. Actually, the Finance Ministry has to take a decision on the issue of pricing and subsidy in this matter.

The use of UPI may be affected due to the fee

The RBI governor’s comments come at a time when reports have emerged that some banks have started charging for UPI payments routed through payment aggregators. Experts believe that if fees are levied on UPI transactions, its usage may be affected.

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Why post office, I mean why not a private courier company. That is because the post office charges are much less than private courier companies and its reach is really up to Kashmir and Kanyakumari. Anyway, let’s not deviate from the topic and come back to my reaction. When I went to the post office (post office india upi) I came to know that payment is not done through UPI here.

Now it is your turn. What are you saying? But the fact is that till now there is no facility of UPI payment in post office. This is because the accounts of post offices are not linked to Unified Payment Interface. Till when…till August.

Post offices will go digital

There is going to be a big change in the services of the post office from August, where now the facility of digital payment will be available. The postal department will implement a new IT system and application, through which payment can be made through UPI. The post office is upgrading its IT system. After this, you will be able to make payment through UPI payment in the post office as well. Meaning, give cash and you will be free from change.

Testing in Karnataka

Testing of this new system has started from Karnataka Circle. For your information, let us tell you that earlier also there was an attempt to bring a digital system for payment of postal services, but it was stopped due to technical problems. Now the postal department is removing such problems in the new system upgrade.

Who benefits from

Yours and ours because currently cash payment has to be made for every kind of transaction in the post office. People have to depend on cash for work like making payments for different savings and insurance schemes and depositing money in accounts. After the new digital system comes, this work can be done through mobile.

That means take out your phone quickly and scan the QR code and make the payment. With the introduction of this facility from August 2025, millions of people across the country will be able to avail the benefits of digital payment in post offices.

I know, I know. You will say that I had made payment through UPI in the post office. I had also done it. But that must have happened on the personal account of the office employee and not on the central server of the post office. Actually, I did not have any cash that day, so the woman sitting at the counter transferred the money to her account just to help me.

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The Department of Posts has announced that digital payments will be accepted over the counter at all post offices in India by August 2025. This transformation is being made possible through a powerful technological upgrade called IT 2.0, which will make payments more secure and consumer-friendly through dynamic QR codes linked to UPI.

Why in the news?

• This announcement is a big step towards making digital services accessible to rural and semi-urban populations .

• It is based on the success of the pilot project conducted in Mysore and Bagalkot districts of Karnataka , which proved the effectiveness and scalability of the system.

• This initiative is in line with the national vision of Digital India and Cashless Economy

Key features of this initiative

Implementation date:
Applicable all over India by August 2025.

Technology used: Dynamic UPI linked QR code under
IT 2.0 system upgrade .

Pilot Project:
Successfully implemented in Main and Branch Post Offices of Mysore and Bagalkot.

Previous Attempts: Static QR codes were used
previously , but were discontinued due to customer complaints and technical difficulties .

Range of services:
Digital payment facility on postage payment, parcel booking, savings deposits and other services.

Customer Support:
Post Office staff will assist customers with the digital payment process.

Objectives and significance

• Promoting cashless transactions in postal services
• Enhancing transparency and efficiency in financial operations
• Providing a powerful means of digital payments to rural and semi-urban citizens
• Reducing dependence on cash transactions and the risks associated with it

Background

• India’s postal network is the largest in the world, with over 1.5 lakh post offices , most of which are located in rural areas .

• This network plays a vital role in financial inclusion , especially through the India Post Payments Bank (IPPB) .

• The new digital payment system will bridge the gap between post offices and modern digital infrastructure.

 Static Trivia Facts 

Department of Posts: Works under the Ministry of Communications . Headquarters: New Delhi .

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In such a situation, it becomes a matter of concern for those who do not have an internet connection or a smartphone. But now there is no need to worry, because through the initiative of Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI), even those who have a simple feature phone can now enjoy UPI Payments.

How to make payment through feature phone

This facility is made available through a platform called UPI 123PAY, which is specially designed for feature phone users. Through this, users can send money directly from their bank account, pay bills, recharge mobile and even check balance. Users just have to dial *99# on their feature phone, after which they have to choose the name of their bank from the given options and after that enter the last 6 digits of the debit card or ATM card, then decide their UPI PIN. After this your UPI ID will be created. After doing this, you can make payment by calling the IVR number or the number given by the bank.

You can also make payment through UPI app

Apart from the phone number, citizens having feature phones can also download the UPI app. The process of downloading the app and making payment is the same as in a smartphone.

Who will benefit the most

This facility will prove to be a boon especially for people living in rural areas, the elderly, small shopkeepers and millions of Indians who are still deprived of smartphones or fast internet. This will greatly expand the reach of the digital payment system.

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The life of the common man may change a little from tomorrow. The UPI and digital payment which has made their life easier, is going to increase their problems at petrol pumps from tomorrow i.e. 10th May. Petrol pump owners have announced not to accept money from UPI and other digital platforms from tomorrow.

Due to the increase in cyber fraud through digital payments, petrol pump owners and organizations in many cities of the country have decided not to accept digital payments. According to a TOI report, petrol pumps in these cities are not only going to stop accepting payments through UPI, but they have also threatened to stop accepting payments through cards from May 10.

UPI payment will be stopped at petrol pumps here

Recently, Vidarbha Petroleum Dealers Association said that due to increasing cases of cyber fraud, petrol pump owners are facing many problems. They are also suffering financial losses due to this. Fraudsters hack the card or netbanking of the people and make payment from it. Then when a person complains in this matter, the police cancels the transaction.

The Federation of All Maharashtra Petroleum Dealers Association says that due to such cyber fraud, the accounts of many petrol pump owners have been completely blocked. Due to this, on one hand they are suffering financial loss, and on the other hand they are also facing problems in receiving the remaining payments.

A similar announcement has been made by the Petrol Pump Dealers Association of Nashik. Here the association’s president Vijay Thackeray said that he has received complaints from many petrol pump owners in this regard. Their digital transactions are cancelled and later their account is blocked.

I did not take tension earlier

Vijay Thackeray says that earlier this amount was very small, so often petrol pump owners did not pay attention to it. But now such incidents are increasing, so this decision has been taken.

Regarding this, President of Federation of All Maharashtra Petroleum Dealers Association, Amit Gupta says that the government has been informed about this. Petrol pump owners will now start digital payment only when they get assurance of appropriate action.

Now the Petrol Pump Association of Maharashtra is going to implement this decision. In such a situation, it remains to be seen how it is reacted across the country, because cyber fraud is becoming a big problem in the true sense today.

The post Petrol pumps will not accept UPI payments from tomorrow, this will be implemented here first first appeared on Rightsofemployees.com.

For example, many banks

are going to change savings account and fixed deposit (FD) interest rates. Now the interest rates will be decided based on the amount deposited in the account. Customers holding a large amount are likely to get higher interest.

Changes related to credit cards

SBI, IDFC First Bank are changing their credit card policies. SBI card reward points are going to be reduced on some transactions. SimplyClick SBI cardholders can now get 5X reward points on Swiggy. Earlier it was 10X. Air India SBI Credit Card 4 Air India SBI Platinum Credit Card will now offer 5 reward points for every Rs 100 spent on Air India ticket bookings. Currently you get 15 reward points. Similarly, Air India SBI Signature Credit Card users will get 10 points for every Rs 100 spent, up from 30 points at present.

As for IDFC First Bank credit cards, milestone rewards for Club Vistara credit card holders will be discontinued from March 31. Club Vistara Silver membership will no longer be available. Apart from this, complimentary vouchers like premium economy tickets and class upgrade vouchers will also be discontinued. The bank will waive the annual fee for one year for customers renewing their credit cards from March 31. But major travel benefits will not be available.

New rule for urban cooperative banks

From April 1, urban cooperative banks will have to allocate 60 percent of their loans to priority sectors. In addition, more women will be eligible for loans.

These UPI accounts will be closed

UPI IDs associated with mobile numbers registered with the bank that have not been active for a long time will be deactivated. You will be able to access UPI services from such numbers only after the mobile number is reactivated. As per the guidelines of the Department of Telecommunications (DoT), if your mobile number has been cancelled or surrendered, banks or UPI apps can remove it from their records. NPCI said that several technical issues and cases of fraud are increasing due to cancelled/surrendered mobile numbers.

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National Payments Corporation of India (NPCI) has launched a new version of the popular BHIM payment app, BHIM 3.0. This upgrade includes many new features to improve the user experience and make expense management easier. This new version will be launched in a phased manner and by April 2025, everyone will start getting the latest features.

New features of BHIM 3.0

BHIM 3.0 now offers users several new tools to track, analyse and manage their expenses better.

Split Expense Feature: With the help of this feature, users can easily divide expenses among their friends and family. Whether it is a food bill, rent payment or shopping expenses, keeping track of transactions has become very easy with this feature.

Family Mode: This new feature allows family members to stay connected on a single account, making it easier to track expenses and manage payments for the entire household.

Spend Analytics Dashboard: This new dashboard provides users with a complete analysis of their monthly payments. Transactions are automatically classified into different categories, making it easier to plan budgets and control expenses.

Multi-language support: BHIM 3.0 is now available in over 15 Indian languages, making it even more accessible for people from different regions.

Offline and low-network capability: The app can work smoothly even in areas with low internet connectivity, allowing transactions to be carried out without any interruption.

Improved safety features: Advanced security protocols have been added to the app, which has made user transactions more secure. With the Action Needed Assistant feature, reminders are sent for bills that have not been paid for a long time. Apart from this, suggestions are given for UPI Lite activation and alerts are also received when the balance is low.

Let us tell you, BHIM 3.0 is especially useful for merchants. A new in-app payment system called BHIM Vega has been introduced, through which merchants can accept payments directly without switching to any extra app.

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Its limit will be up to one lakh rupees. Secretary of the Ministry of Labor and Employment Sumita Dawra gave this information on Wednesday.

What is the detail

Labour and Employment Ministry Secretary Sumita Dawra said that employees will get immediate access to their PF funds, with withdrawal limits up to Rs 1 lakh. She told news agency ANI that by the end of May or June, EPFO ​​members will be able to check their PF balance directly on UPI. Also, they will be able to withdraw funds immediately through an automated system.

How to withdraw money from ATM and UPI?

Let us tell you that in this new process, EPFO ​​will issue a special ATM card to its members, which will be linked to their PF account. Using this card, members will be able to withdraw money directly from their PF account from any ATM across the country. The withdrawal limit can be up to 50% of the total PF balance, ensuring that sufficient funds can be saved for retirement. Apart from this, to withdraw money from UPI, you have to link your PF account to UPI. After this, subscribers will be able to transfer PF money to their bank account. This facility will prove to be a boon for those who suddenly need money.

What is the current process, it is long

Let us tell you that currently it takes up to 2 weeks for EPFO ​​members to process online claims. EPFO ​​members have to submit claims online and wait for approval. This takes up to 2 weeks. However, now with UPI integrated, employees will be able to check their balance and also withdraw money instantly.

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If you want your UPI to continue working without any interruption, then be sure to update your active mobile number with the bank. Otherwise, your UPI may be deactivated after April 1.

The National Payments Corporation of India (NPCI) has asked banks and UPI apps (such as GPay, PhonePe, Paytm) to update their records by March 31, 2025. Mobile numbers that are not being used will be removed from the UPI system.

Why was this step taken?

NPCI says that there are many UPI accounts linked to old or closed mobile numbers. Various technical issues and cases of fraud are increasing. When these numbers are given to a new user, there is a risk of money being transferred incorrectly from the old account.

Who will be affected?

Your UPI account may be closed if you have taken a new mobile number but it was not updated with the bank. Your old number is inactive (closed).

You surrendered your SIM card, but did not inform the bank.

How to avoid UPI shutdown?

Check the mobile number registered with your bank account. If you have changed your number, immediately update the new number in the bank. Complete this task before March 31, 2025, so that your UPI service continues.

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Banks will remove many mobile numbers

The National Payments Corporation of India has directed banks to delete mobile numbers that have been issued to someone else or have been closed from April 1, 2025. So that UPI transactions can be made more secure and wrong transactions can be prevented.

System updates will be mandatory from now on

To prevent fraudulent UPI transactions, NPCI has asked banks and UPI payment service providers to update their systems at regular intervals. This decision was taken in the NPCI meeting held on 16 July 2024, which will now be effective from 1 April 2025.

An updated list of mobile numbers will be generated every week by banks and UPI payment service providers to prevent failed or incorrect transactions.

Users will have to pay attention.

Mobile numbers will be updated only after the consent of the users. This option to give consent will be available only through the UPI app. If consent is not given by the user and the mobile number is not updated, then no UPI transactions will be possible through that mobile number.

Banks and UPI apps will have to follow these rules

From April 1, 2025, banks and UPI apps will have to submit reports to NPCI every month. In which information will have to be given about the number of UPI IDs linked to mobile numbers, number of active users, number of UPI based transactions.

UPI transactions will be more secure

These changes are being made to make the UPI facility more secure for customers. If you want to continue using UPI apps linked to your mobile number with ease, keep them updated.

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These include rules related to LPG cylinder price, demat account nomination, fixed deposit (FD) interest rates, UPI payments, tax rules and security of GST portal. In such a situation, it is important that you are aware of these rules in advance and adjust your financial plan accordingly.

With the start of a new month, several important rules related to transactions change, which can affect your pocket. These include rules related to LPG cylinder price, demat account nomination, fixed deposit (FD) interest rates, UPI payments, tax rules and security of the GST portal. In such a situation, it is important that you are aware of these rules in advance and adjust your financial plan accordingly.

The Securities and Exchange Board of India (SEBI) has made changes in the nomination process of demat and mutual fund accounts. Now investors can add up to 10 nominees. This rule has come into effect from today i.e. March 1. It will be mandatory for single account holders to add a nominee, which will make it easier to claim money in future. It will be necessary for the nominee to provide PAN, Aadhaar (last four digits) or driving license number. In a joint account, if one account holder dies, the money will be automatically transferred to the other account holder.

Commercial cooking gas cylinder price

hiked Oil companies update LPG cylinder prices at the beginning of every month. The government has increased the price of a 19 kg commercial gas cylinder by Rs 6 from March 1. After this increase, the price of a commercial cylinder in Delhi has become Rs 1,803, in Kolkata Rs 1,913 and in Mumbai Rs 1,755.50. However, there has been no change in the prices of domestic gas cylinders.

New UPI payment rules implemented

The new rules for paying insurance premium through UPI have come into effect from March. Under the Insurance-ASBA facility, policyholders can block the insurance premium amount in their bank account. If the insurance company accepts the proposal, the amount will be automatically deducted. If the offer is rejected, the amount will be unblocked again in the account. This change has been made to make UPI payments more secure.

Security of GST portal to be strengthened

The GST portal is being made more secure for traders. Now multi-factor authentication (MFA) will be mandatory. Business owners will need to update their IT systems. This will make online transactions on the GST portal more secure than before.

Banks will remain closed for 14 days

Due to festivals and weekends, banks will remain closed for 14 days this month. There will be 5 Sundays and 2 Saturdays holidays this month. Banks will remain closed for 2 days due to Holi. Other local festivals and government holidays will also affect the functioning of banks. So if you have to go to the branch for any important banking related work, then first check the list of holidays.

Changes in tax rules

The new tax slab and TDS limit may come into effect from March 2025. The government has indicated that some tax exemptions may be given to the middle class and salaried class. The change in tax slab is expected to provide relief to lakhs of taxpayers. Apart from this, banks may also revise home loan interest rates this month after the RBI reduced the repo rate.

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Market regulator SEBI has proposed a new system ‘Pay Right’ to ensure safe and efficient payments in the securities market through Unified Payments Interface (UPI). SEBI has suggested registered market intermediaries to create a unique alphanumeric UPI ID. This will make it easier for investors to confirm that they are making payments only to registered entities.

SEBI has also proposed to increase the UPI payment limit for capital market transactions from Rs 2 lakh to Rs 5 lakh per day. It will be evaluated from time to time in consultation with NPCI. SEBI has sought public comments on these proposals by February 21. SEBI has implemented UPI as a mode of payment in the market since 2019. However, cases of unregistered entities misleading investors and collecting money fraudulently are increasing. To solve this problem, it has been proposed to create a special alphanumeric UPI ID. This will help investors to identify, isolate and avoid unregistered entities that will not have access to this specific UPI handle.

Green thumbs up symbol will appear on payments

According to SEBI’s proposal, a special ‘thumbs up’ symbol will appear inside a green triangle when payments are made to verified intermediaries. If the symbol is missing, it will warn investors about the potential risks of making payments to unauthorized entities. The cost of implementation of this system is expected to be low, as it involves collaboration between SEBI, NPCI, banks and registered intermediaries.

‘Pay Right’ will strengthen investor confidence… SEBI chief said about the ‘Pay Right’ initiative that it will enable investors to verify the authenticity of the UPI ID on which they are transferring money through strong KYC. This measure has been designed to deal with the growing threat of digital fraud.

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If you use UPI payment app then this news is useful for you. Actually, from February 1, no UPI app will be able to use special characters to generate transaction ID. If any app uses special characters in the transaction ID, then the central system will cancel that payment. National Payment Corporation of India (NPCI) had issued these guidelines for business users, but it will also affect common customers.

So changes are being made

NPCI wants to standardize the process of generating UPI transaction ID. Therefore, it has ordered all companies to add only alphanumeric characters in the transaction ID. These orders will come into effect from February 1. This means that if an app does not follow these orders, then payment through UPI will not be completed. The responsibility of following the orders has been put on the apps themselves.

Orders were issued earlier also

NPCI had earlier issued orders to make this process standard. In the orders issued in March last year, it was said to make the transaction ID of 35 characters. Earlier, the transaction ID had 4 to 35 characters. In view of this, it was said to generate an ID of 35 characters.

UPI’s share in digital payments reached 83 percent

UPI’s share in the country’s total digital payments has doubled to 83 percent in five years. In 2019, its share in total payments was 34 percent. This information has been received from a report of the Reserve Bank of India (RBI). In contrast, transactions through NEFT, RTGS, IMPS, credit and debit cards have decreased to 17 percent of total digital payments. Their share was 66 percent in 2019.

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If you do not have a smartphone but have a feature phone with buttons, then this news is useful for you. In fact, recently the Reserve Bank of India (RBI) has given big news for feature phone users. Now UPI payments up to Rs 10,000 can be made using UPI 123Pay. This facility will start from January 1, 2025. Earlier this limit was Rs 5 thousand.

What is UPI 123Pay?

UPI 123Pay is an instant payment system for feature phone users and users with limited or no internet connectivity. Through it, such users can easily make UPI payments. This system provides UPI payment facility in 4 ways.

1. By calling IVR number-

According to NPCI, feature phone users will be able to make UPI transactions through IVR number. For this, you will have to call the IVR number (080-45163666, 08045163581 and 6366200200) and get your UPI ID verified. Now you will have to make your payment after following the instructions given on the call.

2. Using the app on feature phone

3. Missed call based method

4. Sound based payment

UPI facility was launched in the year 2016.

Let us tell you that Unified Payments Interface i.e. UPI is a real time payment system. UPI payment system was launched in the year 2016. UPI system is run by National Payments Corporation of India (NPCI). According to the information given recently by the Finance Ministry, more than 15,547 crore transactions worth Rs 223 lakh crore have been made through the UPI system from January to November this year.

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Earlier the limit was 1 lakh, now it has been increased to 2 lakh rupees per day. The limit has also been increased for tax payments.

If you make UPI payment, then today we are going to give you information about some things. With the help of this, it will be easier for you to make payment. But in this sequence, new decisions have been taken by the government. The government has taken a decision regarding UPI. Along with this, users have also been asked to stay safe. Today we will also tell you the update. Along with this, we will also give information about the new decision of the government-

Talking about UPI payments, the government has increased its limit to Rs 5 lakh per year. Earlier also the UPI limit was increased, but now this decision has been taken in the context of capital market, collection, insurance and foreign remittance. Earlier its limit was 1 lakh, but now it has been increased to 2 lakh rupees per day. NPCI informed that keeping in mind the tax payments, it has been decided to increase the limit of making these payments to Rs 5 lakh.

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In such a situation, the limit for tax payments, hospitals and educational institutions, IPO and RBI retail has been increased. This is the reason why the limit per transaction has been increased to Rs 5 lakh.

Be cautious during UPI-

For online payments including UPI, an X account named Cyber ​​Dog has been created by the government. In this, users are given information related to online transactions. It was said in this that you should take care of everything before making payment. These days scams are going on rapidly, in which users are asked to enter UPI code in exchange for receiving payment, but this is a type of scam. In such a situation, you should take great care of everything while making payment.

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To use them, you must have a bank account, but with a feature, Google Pay will allow you to make payments without a bank account. National Payments Corporation of India (NPCI) has recently launched UPI Circle. Now Google has introduced it for its payment service.

Google unveiled many new features at the Global Fintech Fest (GFF 2024). The company has introduced UPI Circle for Google Pay, which will improve your digital payment experience. Under this, your family and friends members can make payments on your behalf. New features can help Google Pay to compete with companies like PhonePe and Paytm in UPI payments service.

Google Pay: UPI Circle

Recently, NPCI has introduced UPI service feature for UPI. Under this, you can allow your family members and friends to make UPI payments on your behalf. For this, they do not need to link their bank account. You can make family members and friends secondary participants.

You can register secondary participants in partial or full delegation category. The limit for payments made by secondary participants is up to Rs 15,000 per month.

Also Read: IT company Infosys has issued offer letters to more than 1000 freshers

These new features will be available in Google Pay

Apart from UPI Circle, you will also get the benefit of these features on Google Pay.

eRupi Voucher: This is a voucher based payment feature. Existing UPI, organizations including government departments can issue UPI vouchers under this feature. These vouchers can be redeemed for different services and transactions.

Tap & Pay Payments: This feature will make it very easy to make payments using Rupay card via mobile. You have to add Rupay card details in Google Pay. After this, payment will be done by tapping the mobile on the card scan machine.

UPI Lite Autopay: This feature has been released for UPI Lite users. If your balance in UPI Lite falls below the set limit, then the balance will be automatically credited through this option.

ClickPay QR: Facility to create QR code according to payment amount will be available. UPI payment can be made directly by scanning this code. This will eliminate the need to enter payment amount etc.

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National Payments Corporation of India or NPCI says that transactions worth billions of rupees are taking place through various UPI apps across the country. Crores of payments are being made every day.

More people in India are now using UPI for digital payments. In such a situation, soon you can see a big upgrade in UPI payments, which claims to be more secure than your existing digital payments. Different reports have claimed that the National Payments Corporation of India is talking to companies to authenticate UPI payments using biometric features on smartphones.

People are getting robbed every day!

According to a report by Moneycontrol, it is revealed that the UPI authority is quite concerned about the different types of scams that are being reported almost daily. People lose their hard-earned money just because they authenticate payments using a special four or six-digit PIN. The UPI system is generally safe. But people accidentally get cheated by scammers and send money while they expect to receive money.

Also Read: LIC has launched new plans keeping the youth in mind. Know the full details

You must be aware of a scam on OLX that forced the platform to display a pop-up message. This message gave a clear warning about sending and receiving money. NPCI believes that Face ID or biometric security is the right way for UPI payments. However, it is still not known when Face ID integration will happen in UPI apps, and if it does, which public-facing apps will support it.

After all, you have Google Pay, PhonePe, Amazon Pay, Paytm and many other apps that let you make UPI payments in the country. Hopefully, more and more UPI apps will give people the option to use between PIN or biometrics.

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This strategic partnership enables BCRP to establish an efficient payment platform within the country and facilitate instant payments between individuals and business sectors.

NPCI International Payments Limited (NIPL) and the Reserve Bank of Peru have partnered to implement a transaction system like UPI. Let us tell you that NIPL is a wholly owned subsidiary of the National Payments Corporation of India.

First South American country to adopt UPI

This collaboration marks an important milestone, making Peru the first country in South America to adopt the Unified Payment Interface (UPI) system, NIPL said in a statement.

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“NIPL and the Central Reserve Bank of Peru (BCRP) have announced a partnership to enable real-time payment systems like UPI in Peru,” an official statement said.

This strategic partnership enables BCRP to establish an efficient payment platform within the country and facilitate instant payments between individuals and business sectors.

Ritesh Shukla, Chief Executive Officer (CEO) of NPCI International, said that the aim of this partnership is to strengthen the financial infrastructure of Peru and promote economic growth.

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The card facilitates smooth transactions at merchant outlets and allows users the flexibility to make UPI payments by linking the card with UPI-enabled apps. The IndusInd Bank eSvarna credit card on the RuPay network comes with an array of exclusive perks and rewards.

IndusInd Bank eSvarna credit cardholders can look forward to a luxurious travel experience, including complimentary lounge access and fuel surcharge waiver. Corporate travellers can receive the added benefit of comprehensive travel insurance coverage and an exclusive rewards program meticulously crafted for corporate entities, which makes this credit card a valuable financial solution for various business transactions.

Benefits

“The launch of ‘eSvarna,’ the country’s inaugural corporate card on RuPay, represents a significant step for corporate clients to access unique corporate offerings, benefits, and seamless UPI-enabled payments. This will elevate the overall experience for large corporates and their employees, delivering an unparalleled user experience marked by simplicity and efficiency,” said Praveena Rai, Chief Operating Officer, NPCI.

Cardholders can avail complimentary lounge access and fuel surcharge waiver. Corporate travellers can receive the added benefit of comprehensive travel insurance coverage and an exclusive rewards program meticulously crafted for corporate entities and business transactions.

Cardholders can avail complimentary lounge access and fuel surcharge waiver. Corporate travellers can receive the added benefit of comprehensive travel insurance coverage and an exclusive rewards program meticulously crafted for corporate entities and business transactions.

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Private sector ICICI Bank customers will now be able to do UPI transactions with their RuPay credit cards. This service has been started by the bank from December 1, 2023. Now customers can make UPI payments by linking their ICICI RuPay Credit Card to any UPI app including PhonePe, GooglePay and Paytm.

To whom do you pay? 

According to the information given by ICICI Bank, any person can transfer money from his RuPay credit card only from person to merchant. That means you can use it only for shopping. If you cannot transfer money to any person through this. 

How to make UPI payment through ICICI Rupay Credit Card?

To make payment through ICICI RuPay Credit Card, first of all you have to link your credit card through UPI app. After this, you can easily go to any merchant QR code and transact through UPI PIN. 

How to link ICICI Rupay Credit Card with UPI?

You can easily link ICICI Bank RuPay Credit Card to the UPI app. 

• For this, first of all you have to download the iMobilePay app of ICICI Bank. After this, open the app and go to ‘UPI Payment’. After this go to ‘Manage’ tab. 
• Now go to ‘My Profile’ and click on Create New UPI ID. 
• Select RuPay Credit Card here. Click on its procedure. After this, you can set the PIN and do UPI transaction. 

Transactions can be done with Rupay credit cards of these banks

Apart from ICICI Bank, you can also easily do UPI transactions using RuPay credit cards of Axis Bank, Kotak Mahindra Bank, SBI Card, HDFC Bank, ICICI Bank, Yes Bank, Bank of Baroda and Punjab National Bank. 

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Fintech company Fibe, formerly known as Early Salary, has planned to launch India’s first numberless credit card in partnership with Axis Bank. With this card the customer will be able to get a more secure card. Because, no number will be printed on this card. Neither expiry date nor CVV number will be printed. Both the companies have given this information in a joint statement.

According to the card issuing company, this card will reduce the risk of identity theft and will also eliminate the fear of unauthorized access to anyone’s card. Because of which customers will get complete security and privacy. Customers can also easily get the details of their FIBE Axis Bank Credit Card through the FIBE app.

Many different features are also being provided on this branded credit card. One of which is flat 3% cashback on online food delivery service. This feature will also be available on booking through ride-offering apps and online ticket platforms for entertainment. Apart from this, one percent cashback will also be available on all online and offline transactions.

UPay can also be linked to this credit card powered by RuPay. The card will be accepted on all offline and digital platforms. According to the information, Tap Ant Pay feature is also provided on the card. Not only this, zero signing fee and zero annual fee has been kept on the card. This card is available to more than 2.1 million existing customers of Fibe.

Under some other facilities, the card will allow access to four domestic airport lounges every year. Also includes Axis Dining and Wednesday Delights along with fuel surcharge waiver for fuel spends between Rs 400 and Rs 5,000.

On the partnership with Axis Bank, Akshay Mehrotra, CEO and Cofounder of Fibe, said that our aim is to empower our customers with a secure payment system with the convenience of UPI payments, thereby setting a new benchmark in the credit card business.

Already popular among Celrid professionals, Fib is now entering the broader credit card market. It raised $110 million in its Series D funding last year and is now expanding its reach and launching new offerings. The fintech was recently awarded the title of Best Startup in Fintech at the G20 Digital Innovation Alliance Mega Summit.

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In fact, RBI has also announced to include pre-sanctioned credit lines issued by banks for transactions in the UPI system. This will also benefit the customers.

UPI payment

Till now, only deposits could be transacted through the UPI system. The central bank had proposed to expand the scope of Unified Payments Interface (UPI) in April. Under this, it was said to approve transfer from already approved loan facility in banks. At present, savings accounts, overdraft accounts, prepaid wallets and credit cards can be linked to UPI.

Reserve Bank said important thing

The Reserve Bank has also issued a circular on ‘Operationalization of pre-sanctioned loan facility in banks through UPI’. Many things have been said in this through RBI. Through RBI, it has been said that loan facility has also been included in the scope of UPI. The Reserve Bank said, ‘Under this facility, payment can be made through pre-approved loan facility issued to individuals through scheduled commercial banks with the prior consent of the individual customer.’

UPI transaction

According to the central bank, this can reduce costs and help in the development of unique products for the Indian market. Transactions on UPI, used for instant money transfer round the clock through mobile devices, crossed the 10 billion mark in August. The UPI transaction figure in July was 9.96 billion. At the same time, UPI payments are expected to increase further in the coming days.

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In this era of mobile revolution, you pay online for small to big purchases. There was news about UPI payment that it is going to be expensive. Transactions above Rs 2,000 will attract a charge of 1.1 per cent. UPI payment means if you pay more than 2 thousand rupees through digital medium like Google Pay, Phone Pay and Paytm, then you may have to loose a little more pocket, but in this a little There are screws. If you make bank account linked payment then nothing has changed for you.

When will the UPI payment be charged?

The National Payments Corporation of India (NPCI) in its circular suggested that you will be charged 1.1% for payments above Rs 2000. It has been suggested that merchant transactions through UPI may attract Prepaid Payment Instruments (PPI) fees. According to the NPCI circular, you may have to pay 1.1% charge on UPI transactions above Rs 2000. After the arrival of this news, many questions started arising in the minds of the people. The question is, will UPI become expensive for the user after this decision?

Is this charge going to be imposed on all types of online payments or is it going to affect any particular segment?

NPCI has clearly stated in its circular that this change will not affect the customers. Customers will not have to pay any extra charge. There will be no charges for UPI transactions linked to bank accounts. They are absolutely free as before. There will be charges on PPI wallet only, which will have to be paid by the merchant. There is no charge on this for the customers.

Will UPI payment become expensive?

According to the circular issued by NPCI, this charge will be levied on merchant UPI transactions. That is, this charge will not apply to peer to peer (P2P) and peer to merchant (P2M) transactions between banks and prepaid wallets. That means you don’t need to take tension. You can use UPI without any hassle and worry. You will not have to pay any additional fee. Simply put, UPI payment is absolutely free. Nothing has changed for you. Nothing has changed in UPI Bank Transfer.

Who will have to pay the charge?

The new offer is only for Wallets/PPIs. That is, if you do a transaction of more than 2 thousand from the wallet, then you may be charged an interchange fee, but this charge will be taken by the merchant. That is, if you make UPI payment through prepaid payment instrument (PPI) such as wallet, credit card, then you will have to pay interchange fee. This charge will be 1.1% of the total payment made by you to the merchant.

This too when this transaction will be more than 2000 rupees. This is exactly the same as in the case of debit cards and credit cards. Bank to bank transactions are still completely free.
This charge will have to be given to the merchant. Here merchant means in simple language, understand the shopkeeper, whom you are paying through UPI.

Will it affect the general public?

There will be no impact on the common man’s pocket if the interchange charge is levied. The interchange charge is paid by the merchant to the wallet or card issuer. In such a situation, it will not affect the merchant paying less than Rs.2000. According to this circular, if you add money from your bank to your prepaid payment instrument like wallet like Paytm, PhonePe, then a company like Paytm, PhonePe will have to pay 15 basis points for loading the transaction to the remitter bank.

What option to choose?

NPCI has said in its circular that no charges will be levied on peer-to-peer and peer-to-peer-merchant transactions between bank accounts and prepaid payment instruments (PPIs). In the circular, it has been said not to implement this on P2P, P2M transactions. If you pay to a person or a shopkeeper and choose the bank account as the payment option, then you will have to pay some charges. That is, it is better to choose the bank account option while making UPI payment to avoid any kind of charge.

If still there is confusion then understand this

Interchange charges are paid by payment service providers to wallet issuers such as banks. These wallets are exclusively online payment enablers like Paytm, PhonePe, GooglePay, etc. If you understand the news here in one line, then it will not affect you. You will not have to pay any charge on the transaction from the wallet as well. This is entirely a matter between the bank and the merchant.

If you pay through UPI, then you will not be charged anything. Even if you do it through wallet, there will be no charge. This charge is a matter between the shopkeeper for whose scanner you have paid and his bank. It will become expensive for the shopkeeper (merchant) from April 1. When the money goes to the shopkeeper’s bank account through UPI QR, he will have to pay an interchange charge of 1.1% on that amount.

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There has been a straight 85% increase in the number of transactions in one year. There has also been a significant increase in the value of transactions. With the increase in the acceptance of digital payments, you must also be making UPI payments. Do you know that your bank puts a limit on the transaction on you? You can pay with UPI only up to a limit. Let’s understand it.

Every bank keeps a daily limit for UPI transactions. That is, you can send or receive money only up to a certain amount in a day. Not only this, different banks keep their different charges on how much money can be UPI at a time.

Limit on UPI Transactions of SBI, ICICI, HDFC Bank

SBI UPI Transaction Limit

In SBI’s UPI transaction limit, a limit of Rs 5,000 has been kept for new users for 24 hours. In this, the UPI transaction limit is Rs 1 lakh. At the same time, the daily limit is also up to Rs 1 lakh.

ICICI Bank UPI Transaction Limit

ICICI Bank has kept the transaction limit of UPI for its users at Rs 10,000. Daily limit is also Rs 10,000 per user. However, if you are paying through the Google Pay app, then this limit will increase to Rs 25,000 for you.

HDFC Bank UPI Transaction Limit

HDFC customers can authorize transactions up to Rs 1 lakh or up to 10 transactions in a day. Note here that the limit of 10 transactions is only on fund transfer. If you make any bill payments or do merchant transactions, these will not be counted in it.

There is a limit of Rs 5 lakh per transaction on IPO application through UPI.

New customers or new UPI users who have changed their device/SIM card/mobile number can only transact up to Rs.5,000 in the first 24 hours. For iPhone users, this limit is 72 hours.

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