Special Benefits for UPI Users Starting Today
Reserve Bank's Decision Brings a New Revolution in Digital Payments
Mumbai: Almost everyone uses UPI (Unified Payments Interface) these days, as its reach has expanded significantly. Today, a new revolution is taking place in the world of digital payments. Starting today, there has been a major change in UPI regulations, and the Reserve Bank of India has made an important decision to promote digital payments. According to the new rules, users can now make payments via digital wallets using any UPI app. The biggest advantage of this is that users will no longer have to rely on a single app.
To avail of this service, users must complete full KYC (Know Your Customer) updates. PPI (Prepaid Payment Instrument) holders can link their instruments, such as Google Pay, PhonePe, Paytm, and BHIM, with UPI apps. Additionally, the Reserve Bank of India recently announced good news for feature phone users. Starting from January 1, 2025, users can make UPI payments up to ₹10,000 using UPI 123 Pay. Earlier, this limit was ₹5,000. The Reserve Bank has increased the limits for UPI transactions and wallet payments, and now, under the new rules, users can make transactions of up to ₹10,000 using UPI 123 Pay instead of ₹5,000.
It has become easier to use prepaid wallets like PhonePe, UPI, and Paytm, but to benefit from these new rules, it is necessary to complete the KYC process and link the wallet app.
