Unified Payments Interface (UPI)
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NPCI recommends PPI charges for UPI payments
Starting from April 1, merchants carrying out transactions through the Unified Payments Interface (UPI) using Prepaid Payment Instruments (PPI) will be subjected to charges, according to a circular issued by the National Payments Corporation of India (NPCI). Buy Prime Test...
Published On March 29th, 2023 -
NPCI Allows NRE/NRO Accounts With International Mobile Numbers To Use UPI
The National Payments Corporation of India (NPCI) has instructed members of the Unified Payments Interface (UPI) ecosystem to allow non-resident account types such as non-resident external (NRE)/ non-resident ordinary (NRO) accounts having international mobile numbers to get onboarded and transact...
Published On January 13th, 2023 -
UPI Processes Record 7.82 bn Transactions in December, ends 2022 on a High
India’s Unified Payments Interface (UPI) processed a record 7.82 billion transactions in December, worth a total of INR 12.82tn ($174.6bn). This represents an increase of 7.12% in volume and 7.73% in value compared to November. On a year-on-year basis, volume...
Published On January 3rd, 2023 -
RBI Allows Blocking of Funds for Multiple Auto-debits in UPI
The Reserve Bank of India (RBI) enhanced the capabilities of the Unified Payments Interface (UPI) by introducing a ‘single-block-and-multiple debits’ functionality, which allows a customer to enable a payment mandate against a merchant by blocking funds for specific purposes in...
Published On December 8th, 2022 -
BHIM App Open Source License Model Launched by NPCI
The National Payments Corporation of India (NPCI) announced the launch of the BHIM App open-source license model to regulate entities participating in the Unified Payments Interface (UPI) ecosystem. The source code of the BHIM App will help those who do...
Published On November 12th, 2022
