The National Payments Corporations of India (NPCI) on October 25, 2024, issued the notification regarding the Guidelines on UPI features for UPI 123Pay.
The following has been stated namely: -
• UPI 123Pay enables smart phone and feature phone users to digitally undertake a host of transactions based on four approaches, including voice payment based via IVR number, proximity sound-based payments, missed call-based payment approach, app-based scan and pay on feature phone.
• RBI has decided to increase per transaction limit from ₹5,000 to ₹10,000 for UPI 123Pay.
• The following shall be noted namely: -
o Members shall increase the per transaction limit to ₹10,000 from ₹5,000 with immediate effect.
o Members shall implement Onboarding with Aadhar OTP in UPI 123Pay.
o Members shall collectively identify and tag UPI 123Pay transactions as mentioned in Annexure 1.
[Notification No. NPCI/UPI/OC-209/2024]
