All users can now use UPI payments – India TV

Image source: FILE WhatsApp UPI payments

Great news for WhatsApp users! You can now make UPI payments directly via WhatsApp. The National Payments Corporation of India (NPCI) recently removed restrictions on the number of users who can sign up for WhatsApp Pay. This means WhatsApp can now offer its payment services to all users in India.

Previously, there were limits on the number of people who could start using WhatsApp Pay. This was done in order to closely monitor the performance of the service and address issues related to the security of online payments. By allowing users to work in smaller groups, WhatsApp has been able to improve its services without exposing itself to risk.

In November 2022, WhatsApp could provide payment services to 100 million users. Now it can support a full 500 million users in India! This change comes in the wake of an extension of the NPCI decision that extended the deadline for market share cap on UPI apps to December 31, 2026. Under these regulations, no single app can handle more than 30 percent of the total UPI payments market.

A WhatsApp spokesperson expressed the company’s commitment to making payments on the platform simple, reliable and secure. They stated that the goal is to add value and convenience to users’ lives through various use cases such as paying bills, booking tickets, and shopping. They highlighted the goal of accelerating the adoption of digital payments and UPI, while continuing to contribute to India’s digital and financial inclusion agenda.

In other news, the Reserve Bank of India (RBI) has announced an increase daily transaction limit for UPI123Pay, a service tailored to the needs of internet phone users. The deadline is December 31, 2024, and if the deadline is not extended, starting January 1, users will be able to make payments up to Rs 10,000 per day through UPI123Pay, an increase from the previous limit of Rs 5,000.

With UPI123Pay, users can now transfer up to Rs 10,000 to any other UPI user. Whereas, the transaction limit for smartphone apps such as PhonePe, Paytm and Google Pay remains unchanged, enabling UPI transactions worth up to Rs 1 lakh per day. It is worth noting that for medical emergencies and similar situations, this limit has been increased to Rs 5 lakh.