RBI increased UPI 123Pay limit from Rs 5000 to Rs 10000 from 1 January 2025
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The Reserve Bank of India has given great news for feature phone users. Now online payment of up to Rs 10,000 can be made using UPI 123Pay. This facility will start from January 1, 2025. Earlier this limit used to be Rs 5,000.
This facility will be very useful for millions of people who still use feature phones. Reserve Bank of India i.e. RBI has given a new gift to the users who make online payments. The new facility is especially for those users who make online payments from feature phones. Actually, if you use UPI 123Pay feature for UPI payment, then now you will be able to make online payment of up to Rs 10 thousand. Earlier this limit used to be up to Rs 5,000. The new rule of UPI 123 Pay service will come into effect from January 1, 2025.
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When was the UPI 123 Pay service started
Currently, there are 400 million feature phone users in India. In such a situation, these users are going to get a lot of convenience than before. The UPI 123 Pay feature was launched in March 2022. The UPI 123Pay feature offers the facility of online payment without internet. Earlier, the limit of UPI Wallet Lite was increased from Rs 2000 to Rs 5000 by RBI. 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.
Changes in UPI 123Pay service
- Users will be able to make double the amount of online payment as compared to earlier, i.e. up to Rs 10,000.
- New security layer added for Aadhaar based OTT authentication.
- Many options like IVR, missed calls, feature phone apps and sound based technology are used for UPI payments.
- Easy integration with UPI Mumeric ID Mapper is being done for UPI payments.
What is UPI 123Pay?
UPI 123Pay is a platform that allows users to make UPI payments without internet using feature phones. It offers IVR calls, missed calls, app based transactions and sound based payments.
What is UPI Lite?
UPI is a light wallet system, which is offered by PhonePe, Google Pay and PhonePe. This service provides the facility to add payments to the wallet. After this, online payments can be added to the wallet without OTT. This payment limit has recently been increased to Rs 5000.
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