Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    The $4.5 Trillion Secret: Why ‘Thrivable’ Circular Business Models Are the Next Wealth Revolution

    May 31, 2025

    Top 10 startup cities in 2025: Indian city secures #10th rank, two more in global top 20

    May 30, 2025

    India Surpasses China, Becomes Largest iPhone Exporter To US: Report, 2025

    May 30, 2025
    Facebook X (Twitter) Instagram Mastodon Tumblr BlogLovin
    Facebook Instagram Mastodon Tumblr BlogLovin RSS X (Twitter)
    Newzzy
    • Newzzy Magazine
    • Business
      • Finance and Fintech
      • Startups
      • Corporate News
    • India News
      • Crime
      • Events
      • Politics
    • Education
      • Fashion and Lifestyle
      • Food and Health
      • Technology
      • Environment
    • Real Estate
    • Entertainment
    • Global News
    • Sports
      • National Sports
      • International Sports
    Newzzy
    Home | Business News | UPI Transaction IDs Will Be Blocked From 1st February 2025
    Business News

    UPI Transaction IDs Will Be Blocked From 1st February 2025

    berealnewsBy berealnewsJanuary 31, 2025Updated:February 9, 2025No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Copy Link

    NPCI (National Payments Corporation of India) as a public sector company managing retail payments and settlements in India recently announced new UPI transaction ID rules that begin at February 1 2025.

    The new regulation sets a rule that blacklists UPI transaction IDs which use special characters including #, @, $ or * in their identifiers. Starting from February 1, 2025 UPI payment apps must cease their practice of generating transaction IDs with special characters. UPI apps employing special characters in their transaction IDs will experience failed central system approvals for all such transactions.

    Table of Contents

    • What Are the Special Characters?
    • UPI Transaction & Share In Digital Payments India

    The National Payments Corporation of India (NPCI) released a circular on January 9 through which it demanded UPI ecosystem players to adopt alphanumeric character systems for UPI transaction ID production. The requirement exists to satisfy UPI technical requirements.

    The requirements for specifications’ fulfillment have led to implementing a rule that bans all special characters from being included in UPI transaction IDs. The central system will deny all payments that use special characters within their ID. This shall be effective 1 February 2025.

    upi transactions

    All entities need to take note of these measures as they must follow the specified requirements. The contents within this communication need to reach all necessary parties so they can take required action.

    What Are the Special Characters?

    The standard 26-letter alphabet and numerical range from 0 to 9 does not include special characters. The group of special characters consists of punctuation marks as well as accent marks together with various symbols.

    UPI Transaction & Share In Digital Payments India

    The RBI’s payment system report indicates that UPI’s share of India’s digital payments rose from 34 percent in 2019 to 83 percent in 2024 as the technology achieved a 74 percent CAGR during the five-year period.

    During this same period the report shows digital payments volume using RTGS, NEFT, IMPS, credit cards, debit cards, etc. decreased from 66 to 17 percent.

    The report identifies UPI as the main force behind Indian digital payment expansion because users find it helpful and straightforward to operate.

    The usage of UPI transactions expanded from 375 crore in 2018 to 17,221 crore in 2024 while transaction values rose from ₹5.86 lakh crore in 2018 to ₹246.83 lakh crore in 2024.

    For more updates follow: Latest News on NEWZZY

    debit card
    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email Reddit Copy Link
    Previous ArticleRahul Gandhi News: Questioning Nirmala’s budget-Making Process in 2025
    Next Article Extraordinary Story of Squid Game Season 3 & Release Date
    berealnews
    • Website

    Related Posts

    The $4.5 Trillion Secret: Why ‘Thrivable’ Circular Business Models Are the Next Wealth Revolution

    May 31, 2025

    Why is Online Safety And Digital Literacy is Important for Senior Citizens? 2025 Report

    May 29, 2025

    Delhi logs 23 fresh Covid cases, asks hospitals to keeps beds, oxygen ready in advisory

    May 23, 2025

    Indian Handicrafts Are Vanishing: After Covid-19, Indian Artisans are on the Edge of Extinction

    May 21, 2025
    Leave A Reply Cancel Reply

    Don't Miss
    Corporate News

    The $4.5 Trillion Secret: Why ‘Thrivable’ Circular Business Models Are the Next Wealth Revolution

    By berealnewsMay 31, 20250

    ‘Thrivable’ Circular Business Models: For many years in the industrial era, the global economy mainly…

    Top 10 startup cities in 2025: Indian city secures #10th rank, two more in global top 20

    May 30, 2025

    India Surpasses China, Becomes Largest iPhone Exporter To US: Report, 2025

    May 30, 2025

    Why is Online Safety And Digital Literacy is Important for Senior Citizens? 2025 Report

    May 29, 2025
    Our Picks

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Subscribe to Our Newsletter

    Subscribe to Updates

    especially for you 🎁

    Sign up to receive your excGet the latest creative news from Thenewzzy about Newzzy Magazine, Business, India News, Education, Real Estate, Entertainment, Global News, Sportslusive discount, and keep up to date on our latest products & offers!

    We don’t spam! Read our privacy policy for more info.

    Check your inbox or spam folder to confirm your subscription.

    Our Picks
    Facebook Instagram Mastodon Tumblr BlogLovin RSS
    • Home
    • About Us
    • Contact us
    • Our Mission
    • Our Vision
    © 2025 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.