INDIA
The National Payments Corporation of India (NPCI) has directed banks and payment service providers (PSPs) to delink certain type of mobile numbers to prevent fraudulent transactions. Know who all will be affected and why this directive has been issued.
UPI (Unified Payments Interface) services will no longer function on mobile numbers that are inactive or reassigned, starting April 1.
The National Payments Corporation of India (NPCI) has directed banks and payment service providers (PSPs) to delink such mobile numbers to prevent fraudulent transactions.
This means that users must ensure their UPI-registered mobile numbers remain active to avoid disruption in services.
Who all will be affected?
The directive applies to the following sets of users:
Why is this being done?
Inactive mobile numbers linked to UPI are susceptible to security threats. The UPI accounts linked to such numbers continue to remain active, which could lead to misuse. If the number gets reassigned to a new user, fraudsters could get access to financial transactions. The NPCI mandate has been issued to prevent such misuse and fraud.
How to keep your UPI active?
To keep your UPI active, make sure to use your registered mobile number for calling or messaging services. It is also important to update your UPI-linked mobile number with your bank -- this can be through net banking, UPI apps, ATM machines, or by visiting a branch of your bank.
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