Phonepe, Google Pay no longer used: UPI canceled from December 31!
One UPI ID is enough and you can make any type of payment through different payment applications including Google Pay, Phonepe, Paytm.
India progressed to the extent that if you want to make any kind of payment, you can sit at home and hold your smartphone without going to the bank. One Unified Payments Interface (UPI) ID is enough and you can make any type of payment through different payment applications including Google Pay, Phonepe, Paytm.
National Payments Corporation of India (NPCI) new update:
Unified Payments Interface (UPI) launched by NPCI is a boon for every consumer. UPI is the only system where payment can be made without internet or money in your bank. All the transactions of the bank can be done online and any kind of payment can also be done through UPI.
It can be said that UPI payment is now more popular not only in urban areas but also in villages. No need to stand in front of small shops and struggle for retail now, if you have UPI payment facility you can complete the payment in a moment.
New rules for UPI users:
NPCI has introduced new changes in its UPI payment, so let’s see what are the important changes in UPI payment that NPCI has launched for customers.
NPCI has decided to cancel UPI ID:
Every day we make one type of payment through UPI. But many people have UPI ID and have not done any kind of financial transaction for last one year so it is decided to identify such UPI ID and cancel it immediately. If the UPI ID is canceled like this, you will not be able to make payments online using Google Pay, Phone Pay app.
New rules will be implemented from December 31:
For UPI payment we use third party applications like Google pay, phonepe, Amazon pay, Airtel pay, Paytm etc. Now use all these apps to cancel UPI unused IDs. Therefore, it has been decided to cancel UPI ID of all these third party applications and PSP Bank, those who have not done any kind of financial transaction for the last one year with UPI ID.
It is easy to know about non-transactional UPI ID for all payment apps and PSP Banks, how many financial transactions you have done through your mobile number or whether you have made any UPI payment since a year ago.
If you have not made any payment for the last one year, start debit or credit transactions through UPI by December 31. Once a UPI ID that has not been used for one year is cancelled, you cannot use it again. So UPI ID can be used if payment is made using UPI ID before one year. If you have not made any payment for the last one year, start debit or credit transactions through UPI by December 31.