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

Reiteration of compliance to OC 163, OC 163A and OC 100

11-Mar-2024 | NPCI/UPI/OC no. 190/2023-24

NPCI has Reiterated compliance to OC 163, OC 163A and OC 100 With reference to circulars NPCI/UPI/OC-163/2022-23, NPCI/UPI/OC-163A/2023-24 and NPCI/UPI/OC- 100/2020-21. By virtue of this notification NPCI reiterates strict adherence to fulfilment of UPI interoperability and standardized usage of BHIM UPI brand display on UPI Apps, Online merchants and Offline merchants. The following key points are reiterated for ecosystem compliance:- 1. UPI Payment Apps - Obligations to be fulfilled by authorised UPI Apps and their PSP Banks: All UPI Apps and their PSP Banks are advised to comply before 30th April 2024, failing which NPCI may decide on appropriate action including levy of penalty / stop onboarding of new customers / debar the UPI Apps and PSP Banks, etc. till compliance. 2. UPI visibility for online merchants - Obligations to be fulfilled by UPI Acquirer (PA/PG/Banks): All UPI Acquirers are advised to comply before 30th April 2024, failing which NPCI may decide on appropriate action including levy of penalty / stop onboarding of new online merchants / debar the UPI Acquirer, etc. till compliance 3. UPI Offline merchants QR (Static and Dynamic): Obligations to be fulfilled by UPI Acquirer: All UPI Acquirers are advised to comply with immediate effect for new and incremental merchant QR codes and by 30th December 2024 for replacing existing that do not subscribe to guidelines (especially size and placement of UPI logo to provide trust and interoperability). Failing which NPCI may decide on appropriate action including levy of penalty / stop onboarding of offline merchants / debar the UPI Acquirer or merchants, etc. till compliance.

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