UPI Payment New Rule: To avoid online fraud, UPI keeps changing the rules from time to time. In this episode, the National Payments Corporation of India (NPCI) has announced a new rule for Unified Payment Interface (UPI). This new rule will come into effect from June 30, 2025. Let’s know what is the new rule
UPI Payment New Rule: Online fraud is coming to us in new forms every day. Most scams are being done through mobile phones. Because there is a smartphone in every hand, the danger has increased a lot. The most important thing is that UPI apps present in smartphones have become an important part of our payment system. Criminals are targeting people and cheating them heavily. To avoid online fraud, UPI rules keep changing from time to time. Now new rules will come into effect from June 30, 2025.
Actually, National Payments Corporation of India (NPCI) has prepared to make a big change in the UPI system. This change will come into effect from June 30. The purpose of the new rule is to improve security in digital payments across India. Along with this, the cases of fraud are to be curbed. Currently, UPI apps like Google Pay, PhonePe, Paytm and BHIM show the name of the recipient and the number saved by the sender in his mobile.
Now the name registered in the bank will be visible
Under the new UPI rule, while making payment through UPI, users will see only the actual name of the recipient registered in the bank. Earlier, the name or nickname etc. used to be visible in the users’ phone. Now this nickname will not be visible. Overall, after June 30, before the money is transferred, the system will automatically show the official bank registered name of the person receiving the money. Scammers used to use nicknames to hide their identity. But now this rule is being changed. So that fraud through UPI can be stopped.
The rule will be applicable in two types of transactions
This rule will be applicable on person to person (P2P) i.e. money sent from one user to another user. At the same time, this rule will also be applicable on payments made from person to merchant (P2M) i.e. to businesses, shops or cafes. Whether the transaction is done by scanning the QR code or by entering the mobile number or UPI ID, the sender will see only the registered name of the receiver. As the use of UPI is increasing in the country, the cases of fraud related to fake names and QR codes have also increased. Therefore, it has become very important to prevent fraud.
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