The new rule will come into force on or before December 31, 2025, the NPCI -Richtlijn of October 7 states. Users also have the option to port one UPI app to another. At the moment, UPI is processing ten settlement cycles per day through RTGs, in which each cycle includes both authorized and dispute settlements National Payments Corporation of India (NPCI) has performed an improved framework to enable users to see all active UPI mandates in any app of their choice. Users also have an option to port one UPI app to another. This will also enable traders to execute and execute UPI Autopay mandates through their PSP preference, as they see fit. The latest NPCI impairment of October 7 says that members live at Upi Autopay function to allow the revised framework by December 31, 2025. What does the new Richtelijn mean for users? Once in effect, users will be able to see which regular payments are made via UPI on any app. For example, if one active payment exists on Google Pay and another on Phoneepe, the user will be able to see both of these mandates on any app of their choice. This will help them plan and streamline financial planning. What will it be in effect? NPCI Coming letter tells its members (payment service providers and UPI apps) to enable this new framework by December 31, 2025. What did the NPCI say to the PSP banks/UPI programs? NPCI instructed them to ensure full life cycle management, including viewing and transferring users’ UPI Autopay mandates on the various app only under the ‘Management Bank Accounts’ or the Dedicated UPI Autopay section. In addition, NPCI said that the gate mandate would only be user-driven from the mandate details page that was fetched with ‘View Mandates’. There will be no incentives, including Cashback, incentives, notices in the app, banners, bumps or warnings, used to request the portability of the mandate. And the programs will not use compulsory details for any other purpose. Meanwhile, NPCI has through another circular announcing additional verification methods in UPI. This includes face verification for PIN-set/reset and biometric verification on the device for UPI transactions. This biometric verification on the device is available for transactions up to £ 5,000. This limit will be revised over time, read the circular. Visit here for all updates for personal finance
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