Sunday, December 10, 2023

Topic: UPI

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

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

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.