Introduction of platform fees for bill payments by Google Pay indicates a wider movement towards monetising UPI transactions. Google Pay, a prominent UPI (Unified Payments Interface) platform, has begun implementing a convenience fee for utility bill payments, including electricity and cooking gas bills. Previously free for low-value transactions, the service now charges between 0.5% and…
The National Payments Corporation of India (NPCI) has announced that starting February 1, 2025, UPI transactions containing special characters in their transaction IDs will be declined. This new rule requires all UPI transaction IDs to be strictly alphanumeric, meaning any transaction ID containing special characters such as @, !, or # will be automatically rejected…
The National Payments Corporation of India (NPCI) is reportedly discussing partnerships with several startups to introduce biometric authentication for Unified Payments Interface (UPI) transactions.According to sources familiar with the matter, as reported by MoneyControl, the proposed system would allow users to authenticate UPI payments using fingerprints on Android devices and face ID on iPhones, replacing…
