New UPI Rules: limits on balance check..., GPay, PhonePe, Paytm users to see major changes from...

Users of digital payment applications will now have to adapt to new changes which will come in several of these applications like Paytm, GPay, PhonePay, and others. The Unified Payments Interface (UPI) system would possibly undergo changes from August 1. Under these new changes, the National Payments Corporation of India (NPCI) will bring in rules for the use of Application Programming Interface (API) for all banks and payment apps. This can potentially change the way we know about UPI transactions. 

The NPCI aims to make UPI more authentic by making the system faster, safer and more reliable, only to avoid various problems like that of outages to happen in the future. These changes will have a major impact on the daily transactions of the users, including some restrictions. These are some of the changes that will follow from August 1.  

Limit on Balance check 

From now on users will be able to check their account balance 50 times a single day on each UPI app. This will help in preventing to slow down the system as repeated API calls will be stopped from now on.  

Transaction status checks 

In case of a stuck payment, the user will be allowed to check its status only three times, with a gap of at least 90 seconds between each check. Like the previous change, this update will also help in preventing outages problems and also reduce load on the UPI server.  

Autopayments 

Applications for which users have set autopayment mode, payment for them will be processed only during non-peak times: Before 10 am, between 1 pm and 5 pm, and after 9:30 pm. 

Information on linked accounts 

Now, the information that details bank account/s link with the mobile number of the user can also be viewed for a very limited number of times, that is, only 25 times a day. For such requests, users will have to select their bank and give their consent.