Big news for Paytm, Google Pay, PhonePe users: Starting August 1, you won't be able to check..., even linked accounts, mobile numbers, autopay...

New Delhi: There is news for crores of users who use apps like Google Pay, PhonePe, Paytm. From August 1, National Payments Corporation of India (NPCI) is bringing new rules regarding the use of its Application Programming Interface (API). According to the report, this technical change will be implemented from August 1. According to a report by Financial Express, the purpose of bringing the new rule is to reduce the burden on the UPI system. The effect of this will be that there will be a limit on the balance you check from the UPI app. There will be a change in the auto payments you have set.
Let us understand this in detail. Increased load on UPI system
According to the report, the number of UPI payments is increasing day by day. Every month around 16 billion transactions are being processed. Due to such a large number of transactions, the load on the UPI system is increasing. In recent times, cases of misuse of the system by banks have come to the fore. Also, some technical weaknesses were also seen. To deal with these, some changes are being made from August 1. UPI service outage
According to the report, in the last two-three months, there have been many incidents when UPI payment was down. It is said that on April 12, people were very upset due to the payment being down for 5 hours. This was the longest outage in three years. Because of UPI, many people have stopped keeping wallets or do not keep money in their wallets. In such a situation, if UPI goes down, people face a lot of trouble. The rules are being changed to deal with this situation.
The report shows that even a slight interruption in UPI service causes trouble to millions of users. It is said that every second 7 thousand transactions are being processed through UPI. If UPI goes down for even a minute, then 4 lakh people are affected. At present, the number of people making UPI payments is said to be more than 40 crores. A recent investigation revealed that the main reason for UPI going down is the repeated API requests, due to which there is a load on the system. UPI was affected in March and April due to the high number of 'check transaction' API requests. Changes happening from August 1
NPCI has asked all banks and PSPs i.e. PhonePe, Paytm, Google Pay etc. payment service providers to control the 10 most used APIs by July 31. That is, if users check balance more often on UPI app, then now they will not be able to do so. According to the report, users will now be able to check balance 50 times a day on their app. How many accounts are linked to the mobile number, this too will not be seen more than 25 times a day. Apart from this, autopay payments like any SIP or Netflix membership payment will be done only in non-peak hours. Nonpeak hours include before 10 am, from 1 pm to 5 pm, and after 9:30 pm.

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