Page 5 - Upi Transactions

UPI to get faster from today; Daily caps on usage roll out from July 31

NPCI reduces UPI API turnaround times to 10 seconds; limits on balance checks, account listings, and autopay retries to be enforced across apps by end-July

Baseless, false: Finance Ministry denies reports of fee on UPI transactions

"The Government remains fully committed to promoting digital payments via UPI," the finance ministry said

Sebi mandates verified '@valid' UPI handles to tackle payment fraud

Sebi has made it mandatory for intermediaries to adopt '@valid' UPI handles from October 1 to protect investors from fraud, with added verification tools and safeguards

Sebi to launch UPI authentication tool for safer securities transactions

To curb cyber fraud, market regulator Sebi has mandated a new Unified Payments Interface ID format for all registered intermediaries collecting investor funds

UPI numbers hit all-time high in May, cross ₹25 trn for the first time

The previous record was in March 2025, when it clocked 18.3 billion in volume and ₹24.77 trillion in value

UPI transactions rebound in May with 18.68 bn payments; 33% yearly surge

The rebound follows a dip in April, when UPI volumes declined from 18.3 billion in March. That slump was attributed to multiple service disruptions that affected payment flows

UPI's contribution to payments ecosystem volume grows to 83.4% in FY25

UPI recorded 185.8 billion transactions in FY25, up 41.7% from FY24, with India's digital payments now accounting for 99.9% of non-cash retail payments, according to RBI data

Almost-universal UPI usability in 15-29 age group in India, finds survey

The study found that about 85.5% of Indian households have at least one smartphone, while 86.3% have access to the internet within the home

ATMs slide into the shadows as digital transactions take centerstage

With the Covid-induced surge in UPI transactions now firmly here to stay, banks are rethinking their strategies - and costs - on ATMs, especially for off-site machines

PhonePe suffers UPI outage after conducting disaster recovery drills

PhonePe's UPI services went down for over an hour on Monday evening as peak traffic exposed a network capacity shortfall during cybersecurity preparedness drills

PhonePe records slight drop in UPI market share as April volumes fall

PhonePe's UPI market share slipped to 46.73 per cent in April amid a 2.22 per cent dip in total transactions on the real-time payments network

UPI QR codes fastest-growing payment infrastructure in FY25, shows data

In FY25, the number of UPI QR codes saw 91.5 per cent year-on-year (Y-o-Y) growth to 657.9 million, while growth in credit card slowed down to 7.94 per cent Y-o-Y

UPI transaction value dips 3% to ₹23.9 trillion in April, volume dips 2%

In March, the volume reached 18.3 billion and the value stood at ₹24.77 trillion, marking a 14 per cent and 13 per cent rise, respectively

NPCI issues two circulars on API usage amid rising UPI disruptions

The NPCI has directed banks to implement changes in the response time of UPI APIs by June 16 this year. These guidelines, shared with banks and other stakeholders, aim to reduce UPI network outages

NPCI directs UPI members to follow new API guidelines to avoid disruptions

For instance, this includes restricting a high number of repeat APIs for the same or older transactions

BHIM app rolls out the UPI Circle feature with partial delegation

Transactions initiated by these secondary users will require explicit approval from the primary users via their UPI PIN on the application

UPI Circle launched on Bhim app: how it works and key benefits

Feature allows users to securely delegate UPI payments to trusted individuals; each transaction requires real-time approval

No GST on UPI transactions above ₹2,000, clarifies Finance Ministry

A ministry release said that since currently no MDR is charged on UPI transactions, there is consequently no GST applicable to these transactions

UPI outages: NPCI, banks working on durable solution to plug gaps

The current challenge stems from the extremely high frequency of transaction status API calls

NPCI meets banks, UPI apps to discuss recent outages on the platform

Sources also said that NPCI informed banks that it will be sharing a detailed to-do list, outlining specific actions that need to be implemented to strengthen the UPI ecosystem