These upi transactions to be blocked by npci from next month, Know If new norm will affect you ….

The popularity of Unified Payments Interface (UPI) has increased rapidly over the years. The National Payments Corporation of India (NPCI) has stated that UPI transactions to be blocked from next month with special characters ID will be blocked. NPCI operates retail payments and settlement systems in the country.

A release issued by NPCI stated, “In the context of our order of March 28 last year, UPI -linked firms are advised to use only alphanumeric characters to generate UPI Transaction ID. Its purpose is UPI The technical specifications are to ensure the compliance. ” The NPCI has said that the transaction made from the ID with special characters from February 1 will be blocked by the Central System.

In December last year, transactions increased to about 16.73 through UPI system. This is an increase of more than eight percent compared to the previous month. NPCI has reported that the value of UPI transactions in December was about Rs 23.25 lakh crore. Recently, it was allowed to provide UPI services for all users of WhatsApp. NPCI has removed the limit to add UPI users on Whatsapp Pay. With this, all the users of WhatsApp in the country will get these payment services. Earlier, NPCI had allowed Whatsapp Pay to increase the number of users associated with its UPI in a phased manner. There was a limit of 100 million users for WhatsApp. This limit has been removed by NPCI.

Last year, NPCI launched the UPI One World Wallet Service for Non-Resident Indians (NRI) and international travelers who visited the country. This will provide the facility to access the UPI by accessing the UPI who do not have an Indian bank account. NPCI has started this with IDFC First Bank and Transcorp International Limited under the guidance of Service Reserve Bank of India (RBI). Travelers who visit the country will be able to make digital payments safely to merchants with UPI One World Wallet. For this, foreign travelers and NRI will have to download a prepaid payment instrument-UPI app.