From today Google Pay, PhonePe, Paytm, BHIM changed the rules, know-how and how much you will be able to pay through UPI

National Payments Corporation of India i.e. NPCI has changed the payment system from today. Inactive for 1 year, Google Pay, PhonePe, Paytm, BHIM and other UPIIDs have been discontinued. Now no payment will be made through this. National Payment Corporation of India has issued an order to block such UPIID from apps and banks like Google Pay, Paytm and PhonePe.

Unified Payments Interface is an electronic payment system. Through this, payment is made using the mobile application linked to your bank account. Regulated by the Reserve Bank of India and supported by the National Payments Corporation of India, UPI enables instant, fee-free fund transfers.

Now payment up to Rs 5 lakh can be made through UPI. Earlier it was limited to one lakh rupees only. However, this payment will be limited to hospitals and educational institutions.

Reserve Bank of India will install UPI ATM in collaboration with Japanese company Hitachi. Here cash can be withdrawn using a QR code. This facility will remain uninterrupted and secure.

Now if any person makes a payment through UPI, the name of the person receiving the payment will appear on the screen. This is being done so that the money can be given to the person to whom the payment is being made.

Now a transaction fee of 1 per cent will be charged on payments above Rs 2,000 made through prepaid payment instruments like UPI wallet and Paytm wallet.