Make UPI payments faster with your debit and credit cards soon: Thanks to this move by NPCI these transactions to be processed 50% faster
Starting June 16, 2025, your UPI transactions, both debit and credit-based, are expected to take just 15 seconds to finish, as opposed to the 30 seconds taken at present. This is thanks to a new
NPCI
(
National Payments Corporation of India
) mandate, which has directed a reduction in
API response time
for various financial and non-financial UPI activities.
#Pahalgam Terrorist Attack
A Chinese shadow falls on Pahalgam terror attack case probe
How India can use water to pressure Pakistan
Buzzkill: How India can dissolve the Pakistan problem, not just swat it
Response time refers to the total time taken for a transaction to complete, from initiation to the final settlement or confirmation of the transaction status.
Response for other activities, such as checking transaction status and for transaction reversal (both debit and credit), will also come down by as much as 75%, effective June 2025. From the present response time of 30 seconds, finishing checking your transaction status or reversing erroneous transactions comes down to just 10 seconds.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Mountain Gear for Extreme Conditions
Trek Kit India
Learn More
Undo
Read on to know how this will impact your UPI transacting experience and if making these adjustments could potentially mean more UPI downtime.
Read more:
Less UPI fraud now thanks to this new feature: You will know exactly whom you are making UPI payment to
Live Events
Time to undertake; check transaction status to come down significantly
Think of it this way. Say you visit a shop and buy something worth Rs 500. You open your
ICICI bank
's iMobile app to scan the QR code and pay. The QR is linked to an
HDFC bank
account.
So, ICICI Bank will generate a request to pay for funds to be transferred to the shop owner, i.e., the beneficiary, which will be transferred via the NPCI network to HDFC Bank. Depending on whether the transaction is successful or not, i.e., whether Rs 500 has been transferred or not, HDFC Bank will generate a response to pay, which will again be relayed via the NPCI network to ICICI Bank. Previously, this took 30 seconds. But starting June, this time is expected to come down to 15 seconds.
Experts say that these changes will mean that not just the time to undertake these transactions, but also the time to check their status will come down markedly.
'PSP banks/acquiring banks shall initiate the first check transaction status API 90 seconds after the initiation/authentication of the original transaction. After the timers are changed, members may initiate the same after 45 to 60 seconds of the initiation/authentication of the original transaction, after NPCI revised communication', the circular elaborates.
This means that starting June 16, 2025, PSPs (
Paytm
, PhonePe) and other acquiring banks can initiate the first check transaction API anytime between 45 and 60 seconds after transaction initiation or authentication, instead of waiting for 90 seconds from the time a UPI transaction was initiated or authenticated by the user.
In short, you no longer have to wait longer for checking the final status of your transaction in case it does not reflect as successful or is shown as stuck or pending.
'A check transaction API" is typically used to verify or initiate financial transactions, such as checking payment status, validating account details, or confirming the readiness to proceed with a transaction. The 90-second delay was mandated to give the transaction enough time to naturally process and reach a conclusive status, either success or failure, without putting unnecessary load on the system through early or repeated status checks,' explains Jai Kumar, Co-Founder of TechFini.
'The change aims to reduce the time users wait for clarity on their transaction status, especially in cases where the final status isn't received promptly due to network delays or system issues,' he adds. This change would significantly reduce latency and improve the turnaround time for transaction resolution for consumers.
Moreover, this API will not be triggered in certain instances, such as connection timeout, port unreachable, and more. In such cases, the transaction will have been considered as failed. 'According to NPCI logs, around 3-5% of transaction failures in peak hours stem from network or handshake-related failures,' says Rohit Mahajan, Managing Partner and Founder, plutos ONE
To further strengthen the status check of transactions, 'PSP banks/acquiring banks may initiate a maximum of 3 check transaction status APIs, preferably within 2 hours from the initiation/authentication of the original transaction.'
How will this impact the customer?
Says Mahajan, 'From a customer's standpoint, these changing rules around API rules and timing requirements will mean an incredibly easier and more reliable transaction experience.'
For customers, this certainly means quicker updates on the status of their transactions, reducing the waiting time for confirmations. Moreover, they will also know whether their payment was successful or not in a shorter span. The likelihood of prematurely flagging a transaction as failed due to temporary issues will come down, along with fewer unnecessary reversals and refunds.
But, with stakeholders in the UPI ecosystem bringing themselves to meet these revised guidelines, should customers expect downtimes and outages in the meantime?
According to Rahul Jain, CFO, NTT DATA Payment Services India, India's UPI infrastructure is robust enough to handle this. Moreover, experts also note that NPCI may impose financial penalties for non-compliance with the agreed-upon timelines, which may further encourage compliance on the part of UPI ecosystem players.
'The structure of these penalties can vary based on the severity and recurrence of the delay and may be applied per instance, per transaction block, or on a monthly basis, depending on the criticality and frequency of the breach', elaborates Kumar.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
23 minutes ago
- Hindustan Times
Asian shares climb, dollar eases ahead of US-China talks
TOKYO -Shares jumped and the dollar pared recent gains on Monday as Asian markets reacted to better-than-expected U.S. jobs data ahead of talks in London aimed at mending a trade rift between the United States and China. Wall Street stocks had closed sharply higher on Friday after the jobs data eased concerns about damage to the world's biggest economy from President Donald Trump's unpredictable tariff regime. On Monday, MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.7%, with Australia's markets shut for a holiday. Japan's Nikkei stock index rose 0.9%. But pan-region Euro Stoxx 50 futures pointed to a decline while U.S. stock futures, the S&P 500 e-minis, slid 0.2%. Sentiment was weighed down by a standoff in Los Angeles that led to Trump calling in the California National Guard to quell demonstrations over his immigration policies. The dollar slid 0.3% against the yen to 144.46, trimming its 0.9% jump on Friday. The European single currency was up 0.2% on the day at $1.1417. Sterling traded at $1.3553, up 0.3%. Top trade representatives from Washington and Beijing are due to meet for talks expected to focus on critical minerals, whose production is dominated by China. The discussions follow a rare call last week between Trump and Chinese President Xi Jinping. "Trade policy will remain the big macro uncertainty," said Kyle Rodda, a senior financial market analyst at "Signs of further momentum in talks could give the markets fresh boost to kick-off the week." U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will represent Washington in talks with China, Trump said in a social media post. China's foreign ministry said Vice Premier He Lifeng will be in Britain for the first meeting of the China-U.S. economic and trade consultation mechanism. CHINA EXPORT GROWTH SLOWS U.S. job growth slowed in May by less than had been forecast, data showed on Friday. But dour economic readings from China added to evidence the trade war is taking a toll. China's export growth slowed to a three-month low in May, while factory-gate deflation deepened to its worst level in two years, separate reports showed on Monday. Even so, trade optimism lifted Chinese shares. Hong Kong's Hang Seng Index rose 0.8%, touching the 24,000-point level for the first time since March 21. China's blue-chip CSI300 Index added 0.2%. Attention now turns to U.S. inflation data on Wednesday that will feed into expectations for the timing of any rate cuts by the Federal Reserve. The Fed is in a blackout period ahead of its June 18 policy decision. Markets are facing "mixed fortunes" on Monday as they balance optimism over trade and the U.S. economy against the potential for social unrest in California, said Jeff Ng, Head of Asia Macro Strategy at SMBC. "The trade talks, if there's any progress, may help as well, but markets may not have priced in a lot of breakthrough for that," Ng said. "In the meantime, we are also quite cognizant that in the U.S. there are protests in L.A. and the National Guard is also being sent in, so we have to be on the watch for event risk as well." Gold was little changed at $3,311.65 per ounce after a 1.3% slide on Friday. U.S. crude was steady at $64.54 a barrel following a 1.9% surge late last week.
Time of India
26 minutes ago
- Time of India
UAE's media law leaves creators wary of accidental violations as they seek clarity
Many UAE content creators fear unknowingly breaking new media laws despite holding licences/ Image: Pexels, File The UAE's new media law, which officially came into effect on May 29, 2025, has introduced sweeping changes that redefine how influencers and digital content creators operate across the country. Aimed at promoting responsible communication and preserving social values, the new regulations set out a clear framework for media licensing, content standards, and legal accountability, and apply even to creators based in UAE's free zones. As reported by Khaleej Times, the law has already started to impact the way creators work with brands, publish content, and manage their platforms. From revised contract practices to licensing decisions, many are now navigating a more structured, and at times uncertain, regulatory landscape. A push for responsibility: Licensing and compliance The legislation targets both traditional media outlets and new-age digital creators, including influencers earning revenue through content creation, paid partnerships, and product promotions. The law mandates specific licences for those engaged in what is defined as 'media activity,' and violations can result in substantial penalties. This has raised important questions within the creator community, particularly around what exactly falls under 'media activity' and how compliance can be ensured. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo 'There's a fear of unknowingly violating something,' said Mohammed Mussab, a UAE-based content creator who often collaborates with wellness brands, speaking to Khaleej Times. 'Even with a licence, you're not always sure what's allowed and what could get flagged.' According to Khaleej Times, many creators are proactively seeking clarity by consulting with the National Media Council, the UAE's official media regulatory authority. The goal: avoid potential missteps and align operations with the updated framework. Case in point: A positive experience with the licensing process Among those who sought direct guidance was Emma Brain, a media professional and coach planning to launch a website for people over 40, featuring guidance articles and product reviews. Unsure whether the new law would apply to her site, she contacted the authorities. 'They (National Media Council) explained that my website was totally fine, but since I intended to review products, they advised me to get a marketing management licence through the Dubai Department of Economy and Tourism (DET), which cost about Dh1,000. Once I got that, they even offered a free media licence for three years,' she told Khaleej Times. Emma said the process was surprisingly efficient: 'I got the DET licence approved in minutes. The media licence will take 10–15 days, but already covered for what I need. It's a weight off my shoulders.' She urged fellow creators not to rely on guesswork. 'They were so helpful. Don't guess. Just ask. It's better to be safe and know exactly what to do.' Industry reaction: Welcoming the shift Some in the media and production sector are viewing the law as a welcome step forward. Wissam Mustafa, head of communications at a local production firm, said the legislation is helping to bring structure to a field that had become fragmented and difficult to regulate. 'It already changed the way we sign contracts and run campaigns,' he said. 'We're now updating our internal processes, and to be honest, we welcome this shift.' 'In a world where content is evolving so fast, sometimes even in unpredictable ways, having clear and specified regulations is actually what we need. It helps everyone take the work seriously.' Expert legal opinion: Grey areas remain While the intent of the law has been broadly welcomed, legal experts have pointed out that certain aspects remain open to interpretation, particularly around definitions and cross-platform content. 'The intention is to bring structure and accountability, but there are grey areas,' said Layla Zahir, a Dubai-based legal expert. 'We expect more clarification over time, especially around definitions of media activity and cross-platform content.' As the UAE positions itself as a global leader in digital innovation and communication, this new law signals a firm step toward formalising its digital media sector. Influencers, businesses, and media professionals are now being called to rethink not just what they say, but how they operate, promote, and publish in an increasingly structured ecosystem.
Time of India
28 minutes ago
- Time of India
The Governor's gambit: A double order of a big beautiful cut
Firing a half-percent rate cut off the hip, the new Governor of RBI has signalled that he is not there for half measures. One is reminded of the wisecrack of the street-smart gunslinger immortalised by Eli Wallach in the Good Bad and the Ugly: 'if you want to shoot, shoot, don't talk' though, after firing the double barrel, the Governor also talked for good measure, declaring that one should not equate the projected growth rate with the desired goal and the real goal should be to achieve 8% growth on a sustainable basis! That is a big statement coming from the head of an institution whose one big KRA is inflation management. As if all this was not enough, there was a 1% CRR cut spread across the year to ensure ample liquidity in the market to drive growth. As @SugataGhosh observed sagely in his Economic Times column, only a governor not weighed down by a doctorate in economics could have trodden with such decisiveness in a field where standard operating procedures demand tiptoeing. Among other things, the Governor's gambit opens up an opportunity to undertake a critical review of the conventional, calibrated approach to interest rate adjustments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 鷲が庭の子犬に近づく - 隣人の次の行動をご覧ください。 「ティップアンドトリック」 Undo Interest rates is an old, oft used tool used by central bankers to manage inflation, but honestly its track record in inflation management has been rather chequered. Arguably, this is because interest rates have two divergent effects on inflation and neither are first-order effects. On one side, a high interest rate will increase the financing costs of businesses who borrow money. This extra cost would eventually find its way into the consumer prices, adding inflationary pressures, though after a lag. At the same time, higher borrowing costs will also slow down the demand for new assets such as homes and cars and investments in new factories, which will cause a general slow-down in demand and thereby moderate inflation through second-order effects. There is a further twist: the relationship between demand and cost of finance is not linear or straightforward; the future inflation expectation of the market has a big role in equation. Change in demand can be viewed as a function of the difference between the present borrowing costs and future inflation expectations. Live Events To use an example, assume the home loan rates have been hiked to, say, 9% from 8.75%. It will have an impact on home demand only if the markets (the collective psyche of the home buyers & sellers) believe that home prices will rise by less than 9% annually henceforth. If buyers believe that home prices will raise by 10% in future, the 9% interest rate will become a mere irritant for the buyers without changing their behaviour. Similarly, if sellers believe the prices will rise by 10%, they will not be too fazed by the 9% financing costs as to offer a price discount. So the interest rate hike (or cut) will work only if it can modify the future inflation outlook of the market. So, the real intent of the interest rate shift is to signal to the collective psyche of the consumers and sellers that Central Bank wants to slow down or speed up things a bit, thereby nudging them to revise their earlier inflation expectations. It is sort of a mind-game, at times it works, at times it doesn't, but a largish one-time rate-shift is much more likely to get people's attention than multiple small changes spread across a number of quarters. No doubts, the ride will be much jerkier under this method compared to the slow, leisurely shifting of gears the markets are accustomed to, but that is exactly the idea. The change should be material enough shake up things a bit so that people will be forced reassess their inflation projections. In short, to be effective, rate changes have to be administered in larger doses within a shorter span. Further, because interest rates influence growth through second order effects, there will always be a lag in transmission and some translation losses as well, both of which can be reduced by front-loading the anticipated changes. The worst-case scenario is that a cut or hike may have to be rolled back partially at a later date. That may sound like an awkward idea at first, but the awkwardness will ease if we can get used to the idea that central bankers are not all-knowing savants, but just a group of learnt heads trying to connect the dots before they have appeared on the screen. Of course, the bond traders and other market intermediaries may certainly frown upon this approach, they hate to be caught on the wrong side of the interest rate curve and hence passionately argue for predictability and smoothness in the rate-shift manoeuvres. While their concerns may not be without merit, the regulator's primary attention should be on achieving the desired effects on the market rather than easing the collateral side-effects on the market-makers. Besides, there may be even a way to balance both the sides as RBI themselves have shown in the CRR reduction approach. Perhaps next time RBI can announce a 75 percent rate cut or hike upfront to be rolled out over a 6 months period. This will also obviate the need for RBI to disclose their policy stance as accommodative, neutral, hawkish, dovish etc. The stance will become embedded in the rate and hence implicit. On the flip side, it will take away some speculative joy from the market players' lives who try to read the central bank's mind and punt on it, a small sacrifice for a good cause.
