Attention UPI ID holders! Govt has this important message for you
Unified Payments Interface (UPI) IDs, UPI numbers, and phone numbers of Customers who have not performed any financial or non-financial transactions (balance inquiry, PIN change, etc.) for one year from any Third Party Application Providers (TPAPs) or PSP applications. “In the realm of digital payments, it is essential for customers to regularly review and verify their information within the banking system to ensure a safe and secure transactional experience. However, it has come to our attention that customers may change to a new mobile number without disassociating their previous number from the banking system," NPCI said in its guidelines.
According to Mehul Mistry, Global Head - Strategy, Digital Financial Services & Partnerships, Wibmo, a PayU company, de-activation means that inactive customer's UPI IDs or UPI numbers will be disabled for inward credit transactions. “The guideline is aimed at ensuring security, reliability, preventing inadvertent transfers of funds to unintended recipients, and safeguarding the interests of UPI users," said Mehul Mistry. The deadline to deactivate UPI IDs of inactive customers is December 31, 2023.
1)All TPAPs and PSP banks shall identify UPI IDs and associated UPI numbers and phone numbers of customers who have not performed any financial (debit or credit) or non-financial transactions for at least a year from the UPI Apps. 2) UPI IDs and UPI Numbers of such customers shall be disabled for inward credit transactions. 3) Further to this, PSPs shall deregister the same phone number from the UPI mapper as well.
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