कृपया इसे हिंदी में पढ़ने के लिए यहाँ क्लिक करें
Introduction
India’s beloved Unified Payments Interface (UPI), which processes over 16 billion transactions monthly, is set for a major security and operational overhaul starting April 1, 2025. The National Payments Corporation of India (NPCI) has rolled out stricter guidelines to combat fraud, streamline transactions, and adapt to evolving digital needs. From deactivating dormant accounts to hiking ATM fees, here’s everything you need to know.
What’s Happening?
- Inactive Mobile Numbers Blocked: UPI IDs linked to mobile numbers inactive for 90+ days will be deactivated. Telecom providers recycle such numbers, risking transactions going to strangers. Banks must now update user databases weekly using the Mobile Number Revocation List (MNRL).
- UPI123Pay Limit Doubled: Feature phone users can now transact up to ₹10,000 (previously ₹5,000), aiding rural and low-internet areas.
- “Collect” Feature Restricted: Person-to-person “Collect” payments (e.g., splitting bills) are capped at ₹2,000 to curb scams. Only verified merchants can use this feature freely.
- ATM Withdrawal Costs Rise: Free interbank ATM withdrawals drop to 3/month; excess transactions cost ₹20–25 each.
What Does This Mean for Users?
- Check Your Mobile Activity: If your number hasn’t received SMS/OTPs or made calls in 3 months, UPI access may vanish. Test by sending a text or calling someone.
- Update Registered Numbers: Visit your bank or use apps to refresh details. A Mumbai user recently lost access to mid-coffee payment due to an inactive number—don’t let this be you.
- Rural Empowerment: The ₹10,000 UPI123Pay limit aids farmers and small vendors without smartphones.
Who’s Impacted?
- Urban Professionals: Frequent UPI users with multiple numbers.
- Rural Populations: Benefit from higher limits but must ensure network activity.
- Businesses: Small vendors using “Collect” face caps; large merchants gain trust.
- Senior Citizens: Those unfamiliar with app updates risk losing access.
Why Mobile Numbers Matter for UPI
Your number is the gateway to OTPs and account verification. Dormant numbers can be reassigned, letting strangers access your funds. Imagine paying your rent, only for it to land in a new number owner’s account.
Impact on Banks & Payment Providers
- Banks: Must invest in MNRL/DIP systems and notify users. Expect a surge in customer queries.
- PSPs (Paytm, PhonePe, GPay): Update apps to comply with numeric UPI ID rules (special characters like @ banned since February 2025).
Businesses & Merchants: Adapt or Lose
- Small Vendors: Switch to merchant accounts for “Collect” payments above ₹2,000.
- E-Commerce: Fraud reduction may boost consumer trust and transaction volumes.
Transaction Volume & Market Trends
UPI hit a record 16.73 billion transactions in December 2024 6. While new rules may slow initial adoption, long-term security could fuel growth. Key players like PhonePe (34% market share) and GPay (26%) will dominate.
ATM Fees: The Hidden Cost
- Interchange Fee Explained: The fee banks pay each other for ATM use. RBI raised this to offset operational costs.
- What You’ll Pay: After 3 free monthly withdrawals at other banks’ ATMs, users pay ₹20–25 per transaction. For heavy cash users, this adds up.
The Bigger Picture
- Security vs. Convenience: While rules reduce fraud, they add steps for users.
- Digital Push: Higher ATM fees nudge users toward UPI, aligning with India’s cashless goals.
Conclusion
April’s changes mark a pivotal shift in India’s digital economy. Staying informed and proactive—updating mobile numbers, understanding fees, and adapting business models—will be key. As NPCI CEO Dilip Asbe noted, “Security and simplicity must coexist for UPI to thrive.” Whether you’re a tech-savvy urbanite or a rural merchant, these rules redefine how India pays.
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