From January 1, not only the calendar will change, but everything will change. Along with this, some new rules will also change. In this, the rules for making payment through UPI are also changing. RBI had decided that the transaction limit of UPI 123Pay will be changed. The Reserve Bank of India has decided to increase the limit. Using UPI 123Pay, users will be able to make transactions worth Rs 10,000 instead of Rs 5,000. Earlier this limit used to be up to Rs 5,000. The new rules of UPI 123 Pay service will come into effect from January 1, 2025.
Let us tell you that UPI 123Pay is one such service. In which users are given the option to make payment without internet connection. This is the reason why RBI makes every effort to control such transactions. But now this too has been changed.
Types of UPI 123Pay
In UPI 123Pay, maximum 4 payment options are provided to the users. IVR numbers, missed calls, OEM-embedded Apps and sound based technology are used in this. According to NPCI, feature phone users will be able to do UPI transactions through IVR number. For this you will have to call the IVR number (080-45163666, 08045163581 and 6366200200) and get your UPI ID verified. Then you have to complete your payment after following the instructions given on the call. At present there are 4 crore feature phone users in India. In such a situation, these users are going to get a lot of convenience than before.
When was UPI 123 Pay service started?
UPI 123 Pay feature was launched in March 2022. It is believed that UPI payment is spreading rapidly to small towns and villages in India. In such a situation, RBI has doubled the limit of UPI payment. UPI service has been started in many countries including Sri Lanka. The Indian system has spread abroad in no time. New decisions are taken by the government regarding this.
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