If you also use online UPI ID for small transactions, then be alert. Users of Google Pay, Phone Pay and Paytm have been instructed to close some of their UPI IDs from December 31. These include such UPI IDs which have not been used for a year, or are lying inactive.
If you also use UPI on Google Pay, Paytm or Phone Pay, then this news is useful for you. Actually, NPCI has ordered to close the UPI ID of many users from December 31. NPCI has issued a circular to Google Pay, Paytm and Phone Pay saying that the UPI ID which has not been activated for one year, i.e. those users who have not done any transaction with any of their UPI ID for one year, then it will be activated by 31 December 2023. Will be closed after.
What is NPCI?
NPCI is a non-profit organization, which is India’s retail payment and settlement system. That means apps like PhonePe, Google Pay and Paytm work on its guidance. Also, in case of any kind of dispute, NPCI acts as its mediator.
What does NPCI rule say?
According to NPCI’s circular, the reason for closing UPI ID which is not used for 1 year is user security. Nowadays many cases like online fraud are coming to light. Where scams are happening even through online UPI ID. In such a situation, NPCI has given this order to stop scams happening through online UPI. Many times users create a new ID without delinking their old number, which can become a cause of fraud. In such a situation, instructions have been given by NPCI to close the old ID.
