UPI IDs – pressnews

[ad_1] UPI updates in 2024: As we step into the new year, it's important to be aware of some fresh updates to the Unified Payments Interface (UPI), India's fastest-growing payment method. The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have collaboratively crafted these regulations, which aim to enhance your online banking and payment experiences. it's crucial to acquaint yourself with five rule updates set to elevate your online banking and payment experiences.Effective from January 1, 2024, here are five key UPI updates you should keep in mind.1. Dynamic UPI IDs: The NPCI is taking a proactive step by directing payment apps to deactivate dormant UPI IDs after one year. Whether you're a user of Google Pay or PhonePe, ensuring the activity of your U...

[ad_1] In a proactive move to enhance the security and reliability of the Unified Payments Interface (UPI) ecosystem, the National Payments Corporation of India (NPCI) has issued a directive aimed at major third-party UPI apps such as Google Pay, Paytm, PhonePe, and others. The mandate, conveyed through a recent circular, requires these platforms and associated banks to deactivate UPI IDs and numbers that have remained inactive for over a year.NPCI, a non-profit organization overseeing retail payments and settlement systems in India, emphasizes that this measure is essential to prevent unintentional fund transfers to unintended recipients. The risk arises when customers change their mobile numbers without unlinking the old ones from the banking system, as there is a chance that the old ...

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Exciting UPI updates in 2024: Here are 5 new key features you will benefit from

NPCI issues deadline to Google Pay, Paytm, PhonePe: Deactivate these UPI IDs. Know date