According to this circular issued by NPCI, if the third party UPI ID, whether it is linked to Google Pay, Phone Pay, Paytm or any bank, if there has been no transaction in it for more than 1 year, in this situation all such UPI IDs will be disabled.
Phone Pay/Google Pay,/Paytm News: There is important news for Google Pay, Paytm and Phone Pay users. NPCI, the government agency that runs the UPI network, has issued a circular asking third-party UPI apps like Google Pay, Paytm and PhonePe to block UPI IDs and numbers that have been used for more than a year. No transaction has taken place till date.
Rules will come into effect from the new year
Actually, according to this circular issued by NPCI, if the third party UPI ID, whether it is linked to Google Pay, Phone Pay, Paytm or any bank, if there has been no transaction in it for more than 1 year, in this situation all such UPI IDs will be blocked. The ID will be deactivated. NPCI has given time till December 31, 2023 to banks and third party apps to deactivate inactive UPI numbers and IDs.
If the user wants that his UPI ID and number network is not removed, then he has to keep his UPI active. While removing or shutting down UPI ID and number network, banks and third party apps will have to inform the users through email and message. Following these instructions will be implemented from January 1, 2024, after which the deactivated UPI ID will be available to any You will not be able to receive this type of money from your UPI ID.
Complete this work by 31st December
It is noteworthy that recently the Supreme Court had issued an order according to which it was said that after the expiry of the statutory period of 90 days, mobile service providers cannot be stopped from providing the number to any other person. According to this order, NPCI has expressed the possibility that if the old mobile number is given by the company to a new customer and in such a situation, the payment sent on the mobile may go to someone else’s account instead of reaching the designated person (if the account number is Not removed from then).
That’s why NPCI took this step
To solve this problem, NPCI has asked Third Party App Providers (TPAP) and payment service providers to pay tax by December 31, 2023. After the implementation of these guidelines, all types of money inflows on all such UPI IDs will be stopped. The inflow of money will be resumed only after doing all types of verification and validation through UPI ID. NPCI says that keeping in mind the security of the customer’s account in the digital age, it is necessary to do such work from time to time.