If you also make UPI payments through apps like Google Pay, PhonePe or Paytm, then some important changes may be important for you from August 1. Actually, the National Payments Corporation of India i.e. NPCI is now going to change some technical things related to the UPI system. Its purpose is to reduce the increasing load on the UPI system and control unnecessary API requests.
Those who check their balance frequently will be shocked
The biggest impact of this change will be on those people who check their balance several times a day or who have several bank accounts linked to the same mobile number. According to reports, now you will be able to check your bank balance through the UPI app only 50 times a day. At the same time, the details of bank accounts linked to a mobile number will also not be able to be viewed more than 25 times.
More than 7 thousand UPI transactions are happening every second
UPI’s daily transactions have reached nearly 16 billion. More than 7 thousand transactions are happening every second. That means if UPI is down even for just one minute, about 4 lakh people are directly affected. This happened once in April when payments were down for 5 hours and lakhs of people were troubled.
Now auto payments will be done on fixed time only
Another big change will be regarding auto payments. Subscription payments like SIP or Netflix will now be made only during non-peak hours. That is, before 10 am, between 1 pm and 5 pm and after 9:30 pm.
NPCI has asked all banks and payment service providers to implement these changes by July 31. Because recently it was discovered that some banks were repeatedly sending API requests like ‘check transaction’, which was putting a lot of load on the system and many times UPI was getting stuck.
If you use UPI regularly, then it is very important for you to know about these changes. After August 1, your UPI experience will change slightly.
