National Payments Corporation of India has announced new guidelines that will deactivate your UPI IDs. All banks and third-party apps are going to block those UPI IDs in which no transaction has been done for over a year from any Third Party Application Providers (TPAPs) or PSP applications from December 31.
“In the realm of digital payments, it is essential for customers to regularly review and verify their information within the banking system to ensure a safe and secure transactional experience. However, it has come to our attention that customers may change to a new mobile number without disassociating their previous number from the banking system," NPCI said in its guidelines.
De-activation refers to the process of disabling an inactive customer's UPI ID or number for inward credit transactions, according to Mehul Mistry, Global Head of Strategy, Digital Financial Services & Partnerships, Wibmo, a PayU firm.
“The guideline is aimed at ensuring security, reliability, preventing inadvertent transfers of funds to unintended recipients, and safeguarding the interests of UPI users," said Mehul Mistry.
NPCI new guidelines:
- All TAPs and PSP banks shall identify UPI IDs and associated UP| numbers and phone numbers of customers who have not performed any financial (debit or credit) or non-financial transactions for a time period of 1 year from the UPI Apps.
- UPI IDs and UPI Numbers of such customers shall be disabled for inward credit transactions.
- Further to this, PSPs shall deregister the same phone number from the UP mapper as well.
- Customers with inward credit block UP IDs and phone numbers shall re-register in their respective UPI apps for UP mapper linkage. Customers can make payments, non-financial transactions using UPI Pin as needed.
- UPI apps shall perform Requester Validation (ReqValAd) before initiating 'pay-to-contact /'pay to mobile number'. UPI Apps shall show the customer name which has been fetched before initiating the transaction and shall not display the name which has been stored/cached at the apps end.
