4-hour delay likely in first UPI transfer over Rs 2,000

[gigachad]

Whats Your Thoughts on this?

To curb fraud, 4-hour delay likely in first UPI transfer over Rs 2,000

While the process is expected to add some friction to digital payments, officials are of the view that it is necessary to mitigate cybersecurity concerns.

indianexpress.com

 

[D₹V]

Whats Your Thoughts on this?

To curb fraud, 4-hour delay likely in first UPI transfer over Rs 2,000

While the process is expected to add some friction to digital payments, officials are of the view that it is necessary to mitigate cybersecurity concerns.

indianexpress.com

Fine hai.

5k limit tha pahle.

2k bhi theek hi hai.

 

[PRASHANTTHAKUR]

Yha faur hour delay hai like NEFT
Lekin ye to bawal hai
Like
Main shop pe Gaya ,
pay Kiya
Merchant ko payment nhi pahucha due to faur hour delay.
To merchant to goods nhi dene vala.

 

[D₹V]

Yha faur hour delay hai like NEFT
Lekin ye to bawal hai
Like
Main shop pe Gaya ,
pay Kiya
Merchant ko payment nhi pahucha due to faur hour delay.
To merchant to goods nhi dene vala.

First time registration pe delay rahega bas!

Nothing to brag.

 

[PRASHANTTHAKUR]

First time registration pe delay rahega bas!

Nothing to brag.

according to the plan on the table, a time limit of four hours will apply every time a user makes the first payment over Rs 2,000 to another user they have never transacted with before.

 

[akshayhs]

This might be implemented for person to person transactions. For merchants especially dealing with offline presence and physical goods, it makes no sense.

 

[PRASHANTTHAKUR]

First time registration pe delay rahega bas!

Nothing to brag.

Yhi to problem hai first time registration pe nhi
Everytime ese person ko jisse sath kabhi transaction nhi kiya
Vhn implement kr rhe h
Koi sense ban rha is plan ka?😂

 

[D₹V]

Yhi to problem hai first time registration pe nhi
Everytime ese person ko jisse sath kabhi transaction nhi kiya
Vhn implement kr rhe h
Koi sense ban rha is plan ka?😂

Then waste hai.

Instead of finding culprits & their ways. Other users are harmed in this type of implementation.

Or maybe it's a way to increase CC on UPI 🫢😳

Who knows?

 

[panchabhut]

this will reduce the number of high value CC-UPI txn at merchants and would encourage them to start accepting CC-UPI again.

 

[COSMOCRAT]

Most UPI frauds happen because some users cannot differentiate between sending or requesting money cues on the app.
If you are required to enter PIN then it 100% means money is going out, not coming to you. The majority of older folks get confused about this.

Not to mention, there is an entirely different bhookkad category who will blindly believe the fraudster that if they give 10rs they will get back 100rs. 🥵

I don't think a delay will help. Rather you will find out you got scammed after 4 hours.
Unless we can revert/block the payment within those 4 hours. But that can open another spectrum of scams.

 

[panchabhut]

if they really want to prevent fraud, then they should send sms about the txn right when it is made and transfer the money after 4 hrs.. that would give time to react in case of fraud

 

[iamdhamo]

Now this will be problem for us with merchants who don't use merchant account but own account to receive payments and since there is delay of 4hours they may not accept UPI payment and ask us to give cash. Given the fact that interchange in cc via UPI is high

 

[Slayer]

Not having merchant qr is fine for small kinara shop stuff but why would you not have it if you're frequently dealing with transactions over 2k?

 

[iamdhamo]

Not having merchant qr is fine for small kinara shop stuff but why would you not have it if you're frequently dealing with transactions over 2k?

To avoid mdr with bank. There are medical shops neary home where they say to give as cash for any amount otherwise they charge extra percentage to use cc depending on card I give them. ATM is also nearby so they say to take as money n give them

 

[Slayer]

Not all places UPI penetration is deep I am from a metropolitan where a lot of shops still don't accept payment through UPI and their business is goin fine but the tier 1 where I stay all the shops have QR, rarely had i come across a shop which did not have QR; even the cobbler in my neighbourhood as a merchant QR

 

[D₹V]

To avoid mdr with bank. There are medical shops neary home where they say to give as cash for any amount otherwise they charge extra percentage to use cc depending on card I give them. ATM is also nearby so they say to take as money n give them

Tell them to give proper bill for consultation/medicine with GST numbers mentioned.

If any discrepancy, lodge complaint in GST portal.

They're literally invading the taxes.

 

[Slayer]

Tell them to give proper bill for consultation/medicine with GST numbers mentioned.

If any discrepancy, lodge complaint in GST portal.

They're literally invading the taxes.

Invade to ITD karti hai jab mein income tax nahi bharta