Now, you won’t be able to make online payments through UPI, new orders issued!

In today’s modern times, we can do almost everything online, such as ordering food or shopping, thanks to online platforms. The UPI system has significantly contributed to making all these online activities easy, allowing us to make online payments in a matter of seconds.

In India, almost everyone uses the UPI payment system because it is extremely easy to use. With UPI, you can send online payments ranging from ₹1 to ₹1 lakh, making it convenient for various transactions. This ease of use has also caught the attention of other countries considering adopting the UPI system.

The UPI payment system was introduced by NPCI (National Payments Corporation of India) under the guidance of RBI in 2016 to facilitate easy online payments. However, a recent UPI update has brought changes, and now you won’t be able to make online payments through UPI. Let’s find out more about this UPI update.

Your UPI ID is about to be deactivated: UPI UPDATE

Recently, on November 7th, NPCI issued new guidelines regarding UPI that are crucial for everyone using UPI for online payments.

According to the new NPCI guidelines, if a customer has not conducted any financial or non-financial transactions through third-party UPI applications like Google Pay, Paytm, BHIM, PhonePe, etc., in the last year, their UPI ID will be deactivated. After deactivation, they won’t be able to make any online payments through UPI.

New guidelines effective from this day

NPCI’s new guidelines will be applicable to all companies like Google Pay, PhonePe, Paytm, etc., from January 1, 2024. All UPI IDs with no transactions in the last year will be deactivated by December 31, 2023.

Therefore, if you haven’t made any transactions using your UPI ID in the last year, it is essential to conduct a financial or non-financial transaction to keep your UPI ID active for online payments.

Restrictions on wrong transactions

NPCI’s new guidelines aim to reduce fraudulent transactions and ensure that unused UPI accounts are identified. Additionally, if someone changes their number and forgets to deactivate UPI, the UPI ID will be automatically deactivated over time to prevent misuse.

We hope this information about the UPI update has been helpful. Share it with your friends to keep them informed about the UPI update. Visit our finance page for more articles like this.