New Delhi: Significant new Unified Payments Interface (UPI) rules, implemented by the National Payments Corporation of India (NPCI), come into effect today. These regulations are designed to bolster the efficiency of UPI transactions and provide enhanced protection against fraudulent activities for millions of users across India. The changes apply uniformly to all payment service providers, including popular platforms like Google Pay, PhonePe, and Paytm.
The new UPI rules will regulate activities like checking bank balance, processing autopayments and accessing bank details. All these changes have been mentioned in a circular issued by NPCI on May 21, stating that these changes will improve the performance of UPI applications.
Here are the key changes to note;
- UPI IDs linked to mobile numbers that have been inactive for more than 12 months will be automatically disabled to prevent misuse after number reassignment.
- New bank accounts added to UPI will undergo enhanced verification, including stronger user authentication and validation checks.
- Update in autopay transactions – Recurring payments such as utility bills, OTT subscriptions or equated monthly instalments (EMI) will now be executed only during designated off-peak time slots, i.e. before 10 am or after 9:30 pm.
- UPI users will only be able to check the status after a gap of 90 seconds between each check.
The new UPI rules from 1 August will apply to all users across all platforms including PhonePe, GPay and Paytm.
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