Latest news with #UPIAutopay
Hindustan Times
28-07-2025
- Business
- Hindustan Times
UPI will work slightly differently from August 1: Here's what's changing
Starting August 1, your daily UPI habits on apps like Google Pay and PhonePe may feel a little different. NPCI (National Payments Corporation of India) is rolling out a set of backend rule changes to streamline how UPI handles balance checks, autopay requests, payment failures, and linked account verifications. These aren't earth-shattering updates, but if you're someone who uses UPI multiple times a day (which, let's face it, is most of us), you'll want to know what's new. UPI is changing starting August 1. New time slots for UPI autopay requests If you've set up automatic payments like OTT subscriptions, rent agreements, or SIPs, those UPI Autopay requests will now be timed more precisely. From August 1, UPI apps will be required to send these requests between 12 AM and 7 AM. The idea is to minimize server congestion and delays during peak hours. You'll still receive notifications, but expect them early in the morning. Balance checks now have a limit One of the silent data-heavy tasks on UPI is balance checking, especially with biometric authentication like Face ID or fingerprint. To prevent overload, there will now be a limit on how many times you can check your balance in a day. NPCI hasn't disclosed the exact cap yet, but it's designed to stop abuse of the system, especially from bots or high-frequency checkers. Faster status updates on failed transactions We've all dealt with UPI payments stuck in limbo—money debited, but the other side hasn't received it. NPCI is addressing this by tightening timelines. Starting next month, UPI apps will have to show the actual payment status (success/fail) within seconds, instead of letting it remain 'Processing' or 'Pending' for several minutes. That means less uncertainty and fewer screenshots sent to confused vendors. Linked account verification will be more secure UPI apps will now follow a stricter verification process when you try to link a new bank account. This may involve additional checks from the bank's end to confirm the account belongs to you. It adds a layer of friction, yes, but it also reduces the risk of accidental or fraudulent linking. These updates are subtle but helpful. They're mostly aimed at making UPI smoother, safer, and less annoying during rush hours or payment hiccups. You don't need to change how you use UPI, but from August 1, you'll notice the system working a little smarter.
India Gazette
12-06-2025
- Business
- India Gazette
SEBI encourages investors to use CeFCoM platform for paying advisers, research analysts
Mumbai (Maharashtra) [India], June 12 (ANI): Markets regulator SEBI encourages investors to pay fees to their investment advisers and research analysts through the Centralized Fee Collection Mechanism for investment advisers and research analysts (CeFCoM). In a statement, SEBI on Thursday said CeFCoM is a secure and transparent payment ecosystem developed to ensure that investors pay fees only to registered investment advisors and research analysts. It is an optional mechanism. CeFCoM is a payment mechanism that differentiates registered investment advisers and research analysts from unregistered entities acting as investment advisers and research analysts. CeFCoM has been operationalised from October 1, 2024 and is managed by BSE Ltd in association with MF Utilities India Pvt. Ltd. In CeFCoM, investors can make payment of fees through multiple payment modes such as Net Banking, Debit Card, UPI/UPI Autopay, IMPS/NEFT/RTGS, eNACH and even through Cheque and Credit Cards. As of June 10, 2025, an amount of fees of more than Rs 5 Crore has been paid by investors through CeFCoM, SEBI said in its statement. On Wednesday, Securities and Exchange Board of India (SEBI) has announced launching 'SEBI check' tool to validate UPI handles and registered bank accounts for secured payments by investors. The 'Validated UPI Handles' and 'SEBI Check' will enhance Investor Protection and Combat deepfakes and cyber frauds. Investors can check on 'SEBI Sheck' whether a UPI handle or bank account is registered or not before making any payment. Investors can verify the authenticity of UPI IDs either by scanning a QR code or by entering the UPI ID manually. For bank details, investors can confirm the bank details such as bank account number and Indian Financial System Code (IFSC) of a registered intermediary. The core of this new framework will be a mandatory, structured UPI address for intermediaries, composed of a username and a unique handle. Username, will be a readable name chosen by the intermediary, followed by a mandatory suffix that clearly identifies their category, for example, brk for a Stock Broker or mf for a Mutual Fund. Valid handle will feature a unique and exclusive identifier, '@valid', combined with the name of the self-certified syndicate bank. These 'validated' handles will be exclusively allocated by the National Payments Corporation of India (NPCI) only for payment collection by SEBI-registered intermediaries. SEBI Check will be available to investors for use from October 1, 2025. SEBI Chairman Tuhin Kanta Pandey said, 'In recent years, unregistered entities have increasingly misled investors by collecting funds without authorization, often siphoning off these amounts for personal gain. This new framework is designed to proactively curb such fraudulent activities, enabling investors to easily identify legitimate SEBI-registered market intermediaries and make payments to them securely and efficiently.' To address cyber frauds, Deepfakes and issue of impersonation, SEBI says new tool will enhance investor confidence, as investors can now find out whether intermediaries who is asking for funds are registered or not. SEBI Chairman said, 'This innovative mechanism is set to significantly improve the safety and accessibility of financial transactions within the securities market by providing a verified and secure payment channel.' SEBI Chairman added that the regulator will work with online play stores to show only validated Apps for payments. (ANI)
India.com
12-06-2025
- Business
- India.com
SEBI Encourages Investors To Use CeFCoM Platform For Paying Advisers, Research Analysts
Mumbai: Markets regulator SEBI encourages investors to pay fees to their investment advisers and research analysts through the Centralized Fee Collection Mechanism (CeFCoM). In a statement on Thursday, SEBI said that CeFCoM is a secure and transparent payment ecosystem developed to ensure that investors pay fees only to SEBI-registered investment advisers and research analysts. This mechanism is optional. CeFCoM helps distinguish registered investment advisers and research analysts from unregistered entities posing as such. It has been operational since October 1, 2024, and is managed by BSE Ltd. in association with MF Utilities India Pvt. Ltd. Through CeFCoM, investors can pay fees using multiple payment modes such as Net Banking, Debit Card, UPI/UPI Autopay, IMPS/NEFT/RTGS, eNACH, Cheque, and Credit Cards. As of June 10, 2025, investors have paid over ₹5 crore in fees through CeFCoM, SEBI stated. On Wednesday, the Securities and Exchange Board of India (SEBI) announced the launch of a new tool, 'SEBI Check', to validate UPI handles and registered bank accounts, ensuring secure payments by investors. The 'Validated UPI Handles' and 'SEBI Check' tools aim to enhance investor protection and combat deepfakes and cyber fraud. Investors can verify whether a UPI handle or bank account is registered before making any payment via 'SEBI Check'. Investors can authenticate UPI IDs either by scanning a QR code or by manually entering the UPI ID. For bank verification, they can confirm the bank account number and Indian Financial System Code (IFSC) of a registered intermediary. The core of this new framework is a mandatory, structured UPI address for intermediaries, composed of a user-friendly name followed by a unique handle. For instance, the username will be a readable name chosen by the intermediary, followed by a suffix that clearly indicates their category—such as 'brk' for a stock broker or 'mf' for a mutual fund. A valid handle will include a unique and exclusive identifier, "@valid", combined with the name of the self-certified syndicate bank. These validated handles will be exclusively issued by the National Payments Corporation of India (NPCI) for fee collection by SEBI-registered intermediaries. 'SEBI Check' will be available to investors starting October 1, 2025. SEBI Chairman Tuhin Kanta Pandey said, "In recent years, unregistered entities have increasingly misled investors by collecting funds without authorization, often siphoning off the money for personal gain. This new framework is designed to proactively curb such fraudulent activities, allowing investors to easily identify legitimate SEBI-registered market intermediaries and make payments to them securely and efficiently." To address cyber frauds, deepfakes, and impersonation, SEBI stated that this new tool will boost investor confidence by enabling them to verify whether an intermediary asking for funds is registered. The SEBI Chairman added, "This innovative mechanism is set to significantly improve the safety and accessibility of financial transactions in the securities market by providing a verified and secure payment channel." He also mentioned that SEBI will collaborate with online app stores to ensure only validated apps for payment are displayed.
