UPI Payments to Get Faster and More Secure from June 16

Starting June 16, UPI payments in India will become quicker and safer. The National Payments Corporation of India (NPCI) has announced that UPI transactions like money transfers and status checks will now be completed in just 10 to 15 seconds, instead of the current 30 seconds.

UPI (Unified Payments Interface) is a mobile-based system that allows instant money transfers between bank accounts. NPCI aims to improve the user experience by reducing the waiting time for these transactions.

Additionally, checking your account balance through UPI apps will be limited to 50 times a day. Until now, there was no limit. This change is being made to reduce the system load and maintain performance.

To increase security and avoid fraud, UPI apps will now only show the actual beneficiary’s name when sending money. Also, users will no longer be allowed to change the recipient’s name inside the app. These rules must be followed by all UPI apps by June 30.

In May alone, UPI saw a 33% rise in transactions, reaching 1,868 crore, with a total transaction value of ₹25.14 lakh crore. With these updates, NPCI hopes to make UPI even more efficient and trustworthy for users across India.

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