UPI payment UPI payment: These 5 big changes are going to happen in UPI payment UPI payment UPI payment: These 5 big changes are going to happen in UPI payment

UPI payment: Many changes are going to happen regarding Unified Payment Interface (UPI) in the new year. One big change is that UPI accounts of all those people who are not active are being closed. Apart from this, there are going to be many other changes regarding UPI which will affect the common people.

UPI payment: Let us know about these changes

1. Transaction Limit

A major change regarding UPI has happened in the transaction limit. Now you can transact up to Rs 5 lakh through UPI in a day. Earlier this limit was up to Rs 1 lakh.

2. Unused UPI IDs will be closed

Last year, NPCI had said in a statement that all those UPI IDs which are not active for about 1 year will be closed. This will affect the users of Google Pay, Paytm and PhonePe. It has started from 31st December.

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3. No authentication required for payment up to Rs 1 lakh

RBI has said that Additional Factor Authentication (AFA) will no longer be required for payments up to Rs 1 lakh. Earlier this was required for payments of more than Rs 15,000.

4. 4 hour limit for new users

RBI has made a new rule to prevent online UPI fraud. Now new users of UPI i.e. those who have created a new account will be able to make the first payment only up to Rs 2,000.

5. UPI ATM and ‘Tap and Pay’

In the new year, you will get the facility of UPI ATM, that is, you will be able to withdraw money from any UPI ATM with the help of your UPI app. For this you will not need a debit card. Hitachi Payment Service has launched UPI-ATM. You will be able to withdraw money by scanning the QR code at UPI ATM. Apart from this, ‘Tap and Pay’ feature is also coming in UPI. This feature will work in those phones which support NFC. You will be able to make payment by tapping your phone.

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