UPI to remove money request feature from October 1: What it means for you
From October 1, Unified Payment will (UPI) will discontinue the "Money Request" facility, that is currently allowing users to send fee requests to others. The cause of this step is to streamline transactions, growth safety and save you abuse of frequent fraudulent requests in fraud. Although customers can not request finances thru UPI apps, they are able to still switch or acquire cash using trendy transmission and reception of features. The National Payments Corporation of India (NPCI) has delivered this variation to lessen the growing threat and strengthen the user's self belief in virtual payments. For maximum customers, this replace manner that they have got to invite for contacts to send money instead of trusting at once at the request alternative. Businesses and service companies have to also personalize their charge collection techniques. Despite the removal, Upi India's most popular digital fee gadget, which guarantees secure, real-time and loose transactions in banks and apps.
The Key points
- Changes declared with the aid of the National Payment Corporation of India (NPCI).
- Features are often applied in fraud and fishing attacks.
- Users ought to now ask direct touch for charge.
- Send and get capabilities on UPI apps.
- Businesses will require opportunity techniques for gathering charge.
- Step aimed at increasing the safety of virtual transactions.
- Change impacts individuals and groups in virtual price ecosystems.
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