The National Payments Corporation of India (NPCI) has made new rules to make UPI transactions safer and better, which will come into effect from April 1, 2025.
These changes have been made to make UPI more secure and prevent fraudulent transactions. From April 1, 2025, such Paytm, Google Pay, PhonePe and bank accounts with linked mobile numbers that are not active are being closed. Along with this, Bharat Interface for Money i.e. BHIM app is going to launch its upgraded version in April. With BHIM 3.0, you will get the benefit of five new features.
1. Checking the mobile number
Banks and apps like Paytm, Google Pay, PhonePe will now have to update the “Mobile Number Revocation List” (MNRL/DIP) every week. This will reduce errors related to old or given numbers to someone else. If a mobile number is not used for 3 months (no calls, messages or data), then telecom companies give it to someone else. UPI IDs associated with such numbers will be deactivated. Users will have to keep the mobile number registered with their bank active.
2. Ban on “Collect Payment”
Collect Payment (sending a request to ask for money) on UPI will now be available only to large and verified merchants. The limit for Collect Payment among the general public has been set at ₹2,000 per transaction. This step has been taken to reduce fraud.
Keep these things in mind: If your mobile number has changed or has not been used for a long time, update it quickly in your bank and UPI apps. You will not be able to use Collect Request to make payments above ₹2,000. Instead, make a direct payment or pay the merchant.
New features to be added to BHIM app from April
Bharat Interface for Money i.e. BHIM app is going to launch its upgraded version in April. With BHIM 3.0, you will get the benefit of five new features. NPCI BHIM Services, fully controlled by the National Payments Corporation of India (NPCI), launched a new upgrade of BHIM UPI on Tuesday. BHIM 3.0 will be available in more than 15 languages of the country. It is worth noting that the BHIM app is working on 22.6 crore Android phones and 88 lakh iOS platforms. At present, the number of UPI users in the country is around 30-40 crore.
The third version of the BHIM app comes with features like family mode to manage payments, the ability to work even in areas with weak internet connectivity, and a more user-friendly user interface (UI). This application will give users a completely new experience. Not only this, with BHIM 3.0, you can also monitor your monthly expenses by going to the dashboard, which will make it easy to know where and how much you are spending. This app will categorize all the expenses you make into different categories.
With BHIM 3.0, BHIM service has been launched for merchants. With the help of this, merchants will be able to make payments within the app and they will not need to go to any other app. According to NPCI, all these changes made in BHIM will be gradually introduced on all platforms. The company has also introduced ‘BHIM Vishwas’ scheme. It is currently under discussion for launch. BHIM has partnered with Bank of Baroda, Canara Bank, Karnataka Bank and Union Bank for its upcoming schemes.
Related Articles:-
Top property Registration documents to check before buying your dream home
ATM Cash withdrawal Fees increased by 2 Rupees Per Transaction From 1st May
