Unified Payments Interface (UPI) is a revolutionary payment platform developed by the National Payments Corporation of India (NPCI). It is an interoperable system that enables customers to access multiple banking services from a single platform. UPI payment is a secure, convenient and cost-effective way to transfer money. UPI payments have revolutionized the way money is transferred in India.
However, UPI has a daily limit on the amount that can be transferred in a day. This article discusses the UPI payment limit per day and how to increase it.
What is the UPI Payment Limit Per Day?
The daily limit of UPI payment has been set by the National Payments Corporation of India (NPCI) at Rs. 1 lakh per day. This limit applies to both individual and corporate customers. This limit applies to all UPI transactions including P2P (Person to Person) and P2M (Person to Merchant) payments.
How to Increase the UPI Payment Limit Per Day?
The UPI payment limit per day can be increased by following the steps below:
- Visit your bank’s website or app and login with your credentials.
- Select the UPI option and click on the ‘Limit Increase’ button.
- Enter the amount you want to increase the limit to and click submit.
- Your bank will review your request and send you an email or SMS regarding the approval of your request.
Once the limit has been increased, you will be able to make payments of up to Rs. 1 lakh per day.
In conclusion, the UPI payment limit per day is Rs. 1 lakh. This limit can be increased by following the steps mentioned above. UPI payments are a secure and convenient way to transfer money and the daily limit helps you stay within your budget.
A new policy from the government of Indonesia seeks to improve the security of digital transactions by placing limits on how much users can spend using the digital payment application Upi.
The regulation was announced Wednesday by the country’s finance minister, Sri Mulyani Indrawati. Under the new rules, users are only allowed to transact up to IDR 30 million (US $2,100) each day through the mobile payment app. The government hopes that this restriction will help to prevent money laundering and other fraudulent activities.
Upi is a popular digital payment system that enables users to send and receive money without the hassle of bank transfers. It is offered by multiple banks, giving customers a wide range of choices for making transactions. The service has been praised for reducing the costs and time associated with traditional banking and financial transactions.
Sri Mulyani stated that the new regulation is not intended to put a stop to the growth of the digital payment system but to ensure that it remains secure. She pointed out that there are other options for making payments that are even more secure, such as debit and credit cards.
The government also announced measures to increase transparency in digital transactions. Financial institutions will now be required to provide detailed transaction histories to customers, as well as flag any suspicious activity.
The regulations are part of the government’s efforts to promote financial inclusion and empower unbanked and underbanked Indonesians. By setting limits on Upi payments, the authorities hope to ensure that consumers’ funds remain safe.