UPI New Guidelines: The National Payment Corporation of India (NPCI) has issued a new circular. The circular will affect international UPI payments made using QR code. According to NPCI, the ‘QR Share and Pay’ feature will no longer be available for UPI global P2M (Person to Merchant) transactions.
If you make payments or transactions through UPI and you also go abroad, then this news may be useful for you. Because the National Payment Corporation of India (NPCI) has issued a new circular on April 8. The circular will affect international UPI payments made through QR code. Due to this, it will not be easy to make payments abroad. This rule has come into effect from April 4.
According to NPCI, the ‘QR Share and Pay’ feature will no longer be available for UPI global P2M (Person to Merchant) transactions. Payer PSP will have to ensure that the Payer UPI app recognizes it. This means that now you will not be able to make payments abroad by sharing QR code. To give you an example, you buy something from a shop abroad and they send you a QR code for payment. You save that QR code in your phone. Now if you scan that QR code, you will not be able to pay on it.
UPI is working in these countries
According to the NPCI website, currently 7 countries including France, Mauritius, Nepal, Singapore, Sri Lanka and UAE accept India’s UPI based QR payment. In these countries, you can make payment directly by scanning the QR code.
What are the rules in your country
Let us tell you what the rules say for India. The limit of ‘QR Share and Pay’ will be 2 thousand rupees for all P2M. Payer PSP will have to ensure that the Payer UPI app recognizes it. This means that if you are making payment to a businessman in India through QR code who is not registered with NPCI, then you will not be able to make payment of more than 2 thousand rupees at a time through QR Share and Pay. The thing to note here is that the domestic limit of 2 thousand rupees is already applicable. This change has been made only for international transactions.
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