Obnews Desk: UPI (Unified Payments Interface) has become the most popular medium of digital payment in India. According to National Payments Corporation of India (NPCI) data for November 2024, about 15.48 million transactions were done through UPI, the total value of which reached Rs 21.55 lakh crore.
To make digital transactions easier and more secure, this year NPCI has made 5 important changes in UPI, which have benefited crores of UP users.
Auto top-up feature
NPCI has introduced auto top-up feature to make UPI Lite wallet more convenient. Earlier, pre-debit notification was required for wallet top-up. Now, the wallet will be automatically topped up when the UPI wallet balance is low. But for that it is necessary to have sufficient amount in the bank account. This feature is especially useful for those users who want to avoid repeated top-up process.
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UPI123PAY limit increased for feature phone users
NPCI has improved UPI123PAY service for feature phone users. Earlier, under this service, users could transact only up to Rs 5,000 per day, but now it has been increased to Rs 10,000 per day.
Use of UPI123PAY
Feature phone users can make transactions through missed calls or IVR (Interactive Voice Response). This platform allows users to make UPI payments without the internet with the help of a feature phone. It facilitates IVR calls, missed calls, app based transactions and sound based payments.
UPI Lite limit increased for small payments
UPI Lite is used for small payments where there is no need to enter PIN. Earlier, the UPI Lite wallet limit was Rs 2,000, which has now been increased to Rs 5,000.
UPI transaction limit increased
NPCI has increased the UPI transaction limits for certain payment categories. Daily limit for hospital, educational institutions and IPO payments increased from Rs 1 lakh to Rs 5 lakh. At the same time, the daily limit on insurance and stock market transactions was set at Rs 2 lakh. With this, high-value transactions can now be easily done through UPI.
Start of UPI Circle
National Payments Corporation of India (NPCI) has launched Unified Payments Interface Circle (UPI Circle) to increase digital payments. The special thing about UPI Circle is that a UPI user can add maximum five people to his account. In these you will be able to add family members and friends with you.
The primary user has the right to set the transaction limit of the secondary members present in his circle. Also, the secondary user can use the primary member's bank account for UPI transactions. For every UPI transaction, the primary member has to give approval. In this feature, even those users whose bank accounts are not linked to UPI can use UPI.
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