UPI Payment New Rule: In the era of digitalisation, cases of fraud and online fraud are continuously increasing. In online fraud, people from ordinary people to those sitting in prominent positions get duped. Anyway, the increasing cases of cyber fraud are worrying for everyone. If you use UPI, steps have been taken to make its transactions more reliable.
If you are not in a hurry, no one can transfer money to you by using any name. For this, a new rule will be implemented after June 30, 2025, which is being discussed rapidly. Which UPI system will be implemented? You can know it in detail below, where there will be no problem.
UPI’s new rule will be implemented
The new rule of UPI system from NPCI will provide great security to the people. This big change of UPI is going to happen from June 30, 2025, which aims to provide security to online transactions. This will not only provide security in transactions but will also reduce the cases of online fraud.
Currently, UPI apps like Google Pay, PhonePe, Paytm and BHIM show the recipient’s name as the number saved by the sender intheirs mobile, but now this will not happen. If you transfer money through UPI, the name registered in the bank will be visible. With this, you will identify in whose account this amount is being transferred.
The name registered in the bank will be visible on UPI.
Do you know that in the new system of UPI, the bank registered name of the person doing the transaction will be shown. Till now, the name with which the number is saved in the mobile is the only name visible. After June 30, there will be a significant change in this. Before the money is transferred, the system will automatically enter the official bank-registered name of the person receiving the money.
Scammers used to use nicknames to hide their identity. But now this rule is being changed. Now, work can be done to prevent cases like fraud through UPI.