Do you frequently use UPI for a variety of payments, such as paying your uber driver, buying purchases online, or purchasing roadside chai? If so, you have probably noticed that when you send money, your UPI app creates a transaction ID. Although these IDs should only contain alphanumeric characters, they occasionally contain special characters as well.
According to a circular sent by the National Payments Corporation of india (NPCI), the central system would reject any transactions containing special characters starting on february 1.
Alphanumeric IDs only
Players in the UPI ecosystem were encouraged to generate UPI transaction IDs using only alphanumeric characters, according to the circular dated january 9. To guarantee adherence to UPI technical criteria, this was done.
Although the problem has mostly been fixed, certain participants are still not complying, according to the National Payments Interface of India. It has been decided to forbid the use of special characters in the UPI transaction ID due to the importance of conforming to the requirements.
The central system will reject any transaction whose ID contains unusual characters.
It is recommended that all participating entities pay attention to this and make sure they comply. Notably, UPI payments have increased significantly over the last many years, especially following the 2016 demonetization.
According to the most recent figures, there were a record 16.73 billion UPI transactions in december 2024. Compared to statistics from november, which showed 15.48 billion transactions, this represents an 8% increase.
Value-wise, the december total was ₹23.25 lakh crore, a substantial increase above the november figure of ₹21.55 lakh crore.
Jumped deposit fraud
Fraudsters are allegedly targeting UPI customers by putting modest deposits into their accounts and then using various strategies to trick them into approving larger payment requests, according to another news article.
The NPCI refuted the claim that this was a jumped deposit fraud.
"In light of recent media reports concerning a new online fraud called 'Jumped Deposit' Scam, we have observed certain inaccuracies and technical discrepancies in these descriptions, that have led to unnecessary panic and confusion among users about the UPI platform," the NPCI stated in a statement.
According to a circular sent by the National Payments Corporation of india (NPCI), the central system would reject any transactions containing special characters starting on february 1.
Alphanumeric IDs only
Players in the UPI ecosystem were encouraged to generate UPI transaction IDs using only alphanumeric characters, according to the circular dated january 9. To guarantee adherence to UPI technical criteria, this was done.
Although the problem has mostly been fixed, certain participants are still not complying, according to the National Payments Interface of India. It has been decided to forbid the use of special characters in the UPI transaction ID due to the importance of conforming to the requirements.
The central system will reject any transaction whose ID contains unusual characters.
It is recommended that all participating entities pay attention to this and make sure they comply. Notably, UPI payments have increased significantly over the last many years, especially following the 2016 demonetization.
According to the most recent figures, there were a record 16.73 billion UPI transactions in december 2024. Compared to statistics from november, which showed 15.48 billion transactions, this represents an 8% increase.
Value-wise, the december total was ₹23.25 lakh crore, a substantial increase above the november figure of ₹21.55 lakh crore.
Jumped deposit fraud
Fraudsters are allegedly targeting UPI customers by putting modest deposits into their accounts and then using various strategies to trick them into approving larger payment requests, according to another news article.
The NPCI refuted the claim that this was a jumped deposit fraud.
"In light of recent media reports concerning a new online fraud called 'Jumped Deposit' Scam, we have observed certain inaccuracies and technical discrepancies in these descriptions, that have led to unnecessary panic and confusion among users about the UPI platform," the NPCI stated in a statement.
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