The National Payments Corporation of India (NPCI) is gradually phasing out the ‘Collect Payments’ feature on UPI. Soon, only large and verified merchants will be able to use it. Instead, QR code payments and push transactions will take center stage.
Why is NPCI Removing ‘Collect Payments’?🚨 Fraud Prevention – Reducing scams and unauthorized payment requests.
📢 Promoting QR Code & Push Payments – Faster, safer, and more efficient.
💳 Boosting UPI Growth – Making digital payments smoother for everyone.
✅ Big merchants – Can still use ‘Collect Payments’.
❌ Small merchants – Must switch to QR code payments.
⚠ P2P (Person-to-Person) Requests – May be limited to ₹2,000.
NPCI is introducing a ‘Transfer Out’ option for UPI Lite users, allowing them to move their Lite balance back to their bank accounts. Banks and UPI apps have until March 31, 2025, to roll this out.
What You Should Do Now?✔ Merchants – Start using QR code payments for hassle-free transactions.
✔ Users – Be aware of limitations on ‘collect requests’.
✔ UPI Lite Users – Enjoy the new flexibility of transferring your balance.
This move aims to make UPI transactions safer, faster, and more reliable for everyone! 🚀
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