Updated December 31st, 2023 at 20:23 IST
UPI Transaction: Know the limits on popular apps - Details here
Each payment app has its own fixed limits, and users need to be mindful of these restrictions to avoid transaction failures and inconvenience
UPI transactions through popular apps like GPay, PhonePe, Paytm, and Amazon Pay have become an integral part of our daily lives. However, it's crucial for users to be aware of the transaction limits imposed by these platforms to ensure seamless and hassle-free money transfers.
These transactions come with daily limits as per the guidelines set by the National Payments Corporation of India (NPCI). Each payment app has its own fixed limits, and users need to be mindful of these restrictions to avoid transaction failures and inconvenience.
Daily Transaction Limits:
According to NPCI guidelines, Paytm users can transact a maximum of Rs 1 lakh in a day through UPI. Notably, Paytm does not restrict the number of transactions per day, providing flexibility to users.
Google Pay users are allowed a maximum of 10 transactions in a day, with each transaction capped at Rs 1 lakh. This limit ensures a balance between usage convenience and security.
Users of PhonePe can transact up to Rs 1 lakh per day through UPI. While there is no hourly transaction limit, PhonePe imposes a cap of 10 to 20 transactions per day, depending on the user's activity.
Amazon Pay, like its counterparts, has set a daily transaction limit of Rs 1 lakh for UPI. However, there's an additional restriction for new users, allowing them to transact only Rs 5,000 in the first 24 hours. Regular users can make up to 20 transactions in a day.
To avoid payment failures and delays, users are encouraged to stay informed about the transaction limits on their preferred payment apps. Understanding these limits can help plan and manage financial transactions effectively.
While the convenience of UPI transactions on platforms like GPay, PhonePe, Paytm, and Amazon Pay is undeniable, being mindful of daily transaction limits is essential. It's advisable for users to periodically review the transaction limits set by these apps to stay updated on any changes made by the respective platforms.
Published December 31st, 2023 at 20:23 IST