UPI Rules: Nowadays people make payments through UPI everywhere, from e-rickshaws to vegetable shops. Making payments through UPI has become a part of people’s lives in India. Now a news has come regarding UPI payment. The National Payments Corporation of India (NPCI) has issued a new circular regarding UPI transactions, which will come into effect from February 1, 2025.
If you also make payments through UPI, then you need to know what rules the National Payments Corporation of India is going to implement from February 1.
what are the new rules
According to the new rules of the National Payments Corporation of India, transactions with IDs made of special characters will not be accepted from February 1. Transactions will be accepted only from IDs made using alphanumeric characters. Those who do not follow this, the IDs of such people will be blocked. According to the new rules, UPI IDs with special characters like #, @, $, or * will be blacklisted. In recent years, the Unified Payments Interface or UPI has largely replaced cash, emerging as a major transaction medium. People use it for both small and large transactions, from grocery shopping to railway tickets.
UPI transaction is increasing day by day
By December 2024, the number of UPI transactions had reached 16.73 billion, an increase of 8% compared to the previous months. Tier 1 cities of India are at the forefront of UPI transactions. However, with this increasing use, scams and frauds related to UPI have also increased, due to which there have been reports of people’s bank accounts being breached. To increase the security of the UPI ecosystem, NPCI has implemented this new rule, which is now mandatory for all UPI users.
What does NPCI’s circular say?
If you depend on UPI for transactions then this update is very important for you. According to NPCI’s circular, UPI ID should no longer contain special characters. From February 1, only numbers (0-9) and alphabets (AZ) can be included in UPI ID. Currently, many users have special characters in their UPI ID and they will have to update their ID immediately to continue using UPI. This measure is aimed at strengthening digital security and ensuring seamless functioning of the UPI ecosystem.
NPCI had issued this circular on January 9, stating that the rule should be strictly followed. This means that if your UPI ID has characters, you will not be able to make payments from February 1 and your transactions will automatically fail.
