UPI New Update: This news is important for Google Pay, Paytm, Phone Pay app users. Third party app providers and payment service providers will have to close those UPI IDs which have not been active for one year by December 31.
From December, many people will not be able to transact through UPI based payment apps like Google Pay, Phone Pay, Paytm. Their app will not work. If you also use these apps for all types of payments, big or small, then it is very important for you to know whether you fall in this category or not?
National Payments Corporation of India has asked payment apps to deactivate UPI IDs and numbers that have not been active for more than a year. According to the new guidelines, third party app providers and payment service providers will have to implement this work by December 31.
This means that before December 31, you will have to transfer money through UPI from your payment app at least once. People who use it regularly do not need to worry. Their Google Pay, Phone Pay, Paytm, WhatsApp Pay will all work as before.
Why action is being taken: Many complaints are being received regarding UPI. NPCI has received many complaints of erroneous transactions. People change their mobile number but do not update UPI. Your old number gets allotted to someone else and UPI also remains active with the same number. In such a situation, if someone sends money on your UPI, it will go to the person to whom your old number is allotted. For this reason NPCI has had to take this step.