There is big news for people using UPI payment app. From today, no UPI app will be able to use special character in the transaction ID. By doing this, payment will stop from today. If an app generates a transaction ID with special character, the central server will reject that payment. The National Payment Corporation of India (NPCI) had released this circular business users, but it will also have an impact on the common people.
Why was this decision taken?
The NPCI wants to make the process of generating IDs standard standard. Apart from this, the safety of digital payment platform will also increase. Therefore, it has ordered all companies to use only alphanumeric character in transaction ID. These orders will be implemented from today. If any app does not follow these orders from today, then it will not be able to process UPI’s payment. NPCI has been trying in this direction for a long time.
These orders were issued earlier
NPCI had earlier issued orders to make this process standard. In the orders that came in March last year, it was said to make the transaction ID in 35 characters. Earlier, there were 4 to 35 characters in the transaction ID. In view of this, it was said to generate the ID of 35 characters.
UPI dominates in digital payment
UPI is dominated in digital payment in the country. According to a report by the Reserve Bank of India, UPI stake in digital payment in 2019 was a total of 34 percent, which has now increased to 83 percent more than double. That is, 83 percent of the digital payment in the country is from UPI. In the remaining 17 percent, all the transactions occur through NEFT, RTGS, IMPS, Credit and Debit Card.
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(Tagstotranslate) Digital payment
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