Topic: UPI

Union govt plans 4-hour delay for first UPI transfer over Rs 2,000 to prevent fraud: Report

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Maktoob Staff - November 28, 2023

Officials suggest a potential four-hour timeframe for the first transaction over Rs 2,000, encompassing various digital payment methods like Immediate Payment Service (IMPS), Real Time Gross Settlement (RTGS), and Unified Payments Interface (UPI).

Union govt introduces interchange fee for Gpay, Paytm, others on transactions above ₹2,000

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Maktoob Staff - March 29, 2023

The NPCI, which oversees payment systems in India, has suggested that transactions above Rs 2,000 made through Prepaid Payment Instruments (PPIs) using the Unified Payments Interface (UPI) should be charged an interchange fee.