Latest news with #NationalPaymentsCorporationofIndia
India.com
4 hours ago
- Business
- India.com
Attention Google Pay, PhonePe, Paytm, BHIM, YONO users: Here's how to increase UPI transaction limit from Rs 1 lakh, condition is..., banks must...
UPI transactions- File image UPI transaction limit: In a world which is witnessing a massive growth in digital payments and especially the Unified Payments Interface (UPI), which has become the fastest and most popular way to transfer money, a transaction limit of Rs 1 lakh is sometimes a point of concern for many users. It is widely felt that the transaction limit often leads to issues while transacting for bigger financial transactions. If you are one of those UPI users who is interested in increasing your daily transaction limit, here is the process you need to know. How to increase UPI Limit? 1. Check your current limit: Before applying for increasing your UPI limit, you have to check your current limit by opening your UPI app or bank app. 2. Ensure KYC is complete: You have to ensure that your bank account must be fully KYC verified. 3. Request limit increase: After the above steps are confirmed, you need to visit your bank branch or apply via net/mobile banking. 4. Wait for approval: Bank reviews your transaction history; approval takes 1–2 days. 5. Use another UPI ID if needed: Link a different bank account to continue large transfers. What are the major UPI rule changes? In a major update for UPI users, using UPI will come with a set of new rules aimed at improving transaction speed, reducing system load, and making payments safer from August 1. In the recent update, the National Payments Corporation of India (NPCI) has issued fresh guidelines for all members of the UPI ecosystem, including banks and payment apps, which must be implemented by July 31. What are the new limits on UPI transactions? One of the major changes is a cap on how many times users can check their account balance through a UPI app. From next month, each app will allow a maximum of 50 balance enquiries per customer per day, within a rolling 24-hour period. This limit is per app, meaning a user can still check their balance separately on different UPI apps. The new rules also mandate banks to display the available account balance after every successful UPI payment. For auto-pay transactions, NPCI has fixed specific time slots to avoid network congestion. (With inputs from agencies)
India.com
17 hours ago
- Business
- India.com
From August 1, UPI Gets A Silent Overhaul: Here's What Regular Users Will Notice First
New Delhi: Come August 1, your everyday routine with apps like PhonePe or Google Pay may change. You will not need to update anything. The engine beneath the familiar tap-to-pay button is getting a careful tune-up. The National Payments Corporation of India (NPCI), which runs the show behind UPI, is introducing new rules to ease pressure on servers, speed up stuck payments and tighten account linking. None of this is meant to make your day harder. Those who pay bills, check balances or send rent via UPI, these small shifts will show up in subtle ways. Autopay Requests Will Come Early If you have set up recurring payments, maybe a Netflix subscription, your SIP or even an apartment lease payment, expect those auto-debit requests to reach you while you are still asleep. From August, UPI apps will need to trigger these 'mandate collect' requests between midnight and 7 AM. Why the early hour? NPCI wants to avoid clogging the system during peak hours. The idea is to lighten the morning rush on UPI servers so your other payments do not hit unexpected delays. Notifications will still land on your phone, just earlier in the day. Balance Checks With A Daily Limit Checking your bank balance through UPI might feel like a tiny and harmless task. But it actually eats up a fair chunk of backend resources, especially when biometric verification like fingerprint or Face ID is used. To control that load, the NPCI will place a soft cap on how often users can check balances daily. The exact number is not public so far, but the goal is to prevent bots or overactive users from pinging bank servers too frequently. If you are a regular user, you might not hit the limit but you will probably feel a nudge to check a little less often. No More Limbo for Failed Payments Nothing frustrates users more than the moment after a failed UPI payment, when you see your money gone but the other person has not received anything. Sometimes it stays stuck in 'Processing' or 'Pending' mode longer than it should. That is about to change. The NPCI now wants apps to confirm success or failure much faster. Starting August, these apps must update the status of failed transactions in near real-time. You will no longer have to wait five minutes before knowing whether to retry, and fewer people will need to send screenshots asking, 'Did it reach you?' Tighter Checks When Linking a New Bank Account Adding a new account to your UPI app? It might take a few seconds longer from August. Apps are introducing stricter verification checks to ensure the bank account really belongs to you. This might involve added validation steps from the bank's side. While it may add a few seconds of friction, the idea is to prevent accidental links or worse, fraudulent ones. What It Means For You If you use UPI just once or twice a week, these changes might slide by unnoticed. But if you use it five or ten times a day, you will begin to sense that the system is running a bit smoother, status updates feel quicker and the app is not dragging when you check balances. None of these updates require action from your end. But they represent the platform maturing, growing smarter under the hood. It is the kind of change you do not see but eventually feel. And come August 1, you will likely feel it first thing in the morning.
Hindustan Times
a day ago
- Business
- Hindustan Times
New UPI rules from August 1: Full list of key changes that you should know
The Unified Payment Interface (UPI) is set to introduce several changes to the instant payment service from August 1. The National Payments Corporation of India (NPCI) is going to implement the new rules to improve the performance of UPI transactions. The NPCI has announced that several changes will made to UPI from August 1.(Shutterstock) So, if you are a UPI user and rely on payment service providers like PhonePe, Google Pay or Paytm on a regular basis, then the new rules are set to affect the way the transactions take place. Though, the revised guidelines wouldn't impact your day-to-day transactions, it is set to bring in restrictions for UPI-related services. The new rules include caps on limiting services, like checking bank balance, auto payments, fetching bank account info and checking payment status. The NPCI has said that the new rules have been brought to enhance UPI's stability and efficiency. What are the changes in UPI from August 1: Here are some of the prominent changes that the UPI users are set to experience from August 1: Cap on checking bank balance on UPI: Starting August 1 onwards, the UPI users will be able to check their bank balance only 50 times a day on each UPI app. The restrictions would allow NPCI to decrease the pressure on the Application Programming Interfaces (API) system during the peak hours. Also Read: UPI will work slightly differently from August 1: Here's what's changing
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Business Standard
a day ago
- Business
- Business Standard
UPI apps to limit balance checks, autopay from Aug 1: How changes help you
Users of UPI-based financial apps will from August 1 find changes and limits that seek to improve services, according to organisation that manages the digital payments platform. The National Payments Corporation of India (NPCI) is introducing new rules to regulate how often certain backend requests or API calls can be made. The changes seek to improve system efficiency and reduce unnecessary traffic that can slow down transactions. New rules NPCI found that a high number of non-financial requests, such as checking bank balances or listing linked accounts, are overloading the system. To ensure smoother and quicker payments, limits will be set on how these functions operate in an app. Here's how your experience with UPI apps may change under the new framework: Balance enquiries: You will be able to check your bank balance up to 50 times per app per day. To minimise this need, banks must also display your available balance after every successful UPI transaction. Linked accounts view Limited to 25 requests per day per app. In case of an error, retries must be manually triggered by the user, not automatically repeated by the system. Autopay Autopay mandates will be processed after peak hours, which are between 10 am to 1 pm and 5 pm to 9:30 pm. Only one execution attempt and three retries are allowed per mandate. Merchant verification Apps can fetch lists of verified merchants or security keys only once a day, again restricted to non-peak hours. Transaction status check: Must follow a staggered pattern as previously prescribed by NPCI to avoid traffic spikes. Digital discipline UPI apps and banks have been directed to monitor all backend traffic, whether initiated by the user or generated automatically. Systems must no longer blindly pass requests from partner institutions, especially during peak usage windows. Deadline for compliance All these changes must be implemented by July 31, 2025, with system audits completed and submitted to NPCI by August 31. Non-compliance could lead to penalties, restrictions on API access, or even a ban on onboarding new users. The changes are expected to make the UPI ecosystem more stable, especially during high-demand periods.
News18
2 days ago
- Business
- News18
UPI Changes From August 1: All You Need To Know
1/8 The regulating authority of UPI, the National Payments Corporation of India (NPCI), has announced a set of regulatory changes in the predominant digital payment platform. These changes are aimed at making UPI more dependable, seamless, and less prone to disruptions, particularly during peak hours. (File Photo) India's real-time payment technology UPI has emerged as the global leader surpassing Visa, according to a recent note by the International Monetary Fund titled Growing Retail Digital Payments: The Value of Interoperability. (FIle Photo)
