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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Guidelines on UPI features for UPI 123Pay

25-Oct-2024 | NPCI/UPI/OC-209/2024

NPCI has issued guidelines on UPI features for UPI 123Pay, effective from 25th October 2024. By virtue of this circular, it is notified that in reference to Press release on 'Statement on Development and regulatory Policies' issued by RBI it was decided to increase the transaction limit from Rupees 5,000 to Rupees 10,000 for UPI 123Pay. In furtherance of same guidelines as follows are issued- 1. Members are required to increase the per transaction limit to Rs. 10,000 from Rs. 5,000 with immediate effect. 2. Members are required to implement Onboarding with Aadhar OTP in UPI 123Pay. 3. Members are required to collectively identify and tag UPI 123Pay transactions as mentioned in Annexure 1. 4. Members are required to implement UPI Number functionality through integration with UPI numeric ID Mapper. 5. New members shall comply to above mentioned guidelines for go live on UPI 123Pay services. Further, all live 123Pay members are advised to comply before 1st January 2025.

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