NPCI Circular No 142 – Acceptance of UPI based payments by Merchants

 NPCI Circular No 142 – Acceptance of UPI based payments by Merchants

NPCI – UPI Division released the Circular Non n142 on 25^th March 2022, highlighting the need for Merchants to accept UPI Payments from any UPI App.

The circular is addressed to all Banks on UPI.

Gist of the circular:

UPI acquiring banks need to ensure that merchants on-boarded (directly or indirectly) accept payments from any UPI App and do not restrict payments from specified UPI apps only.

This is to ensure that there is a level playing field to all UPI apps and consumer has the choice of making a payment from his/her preferred UPI App.

Please note that is applicable to only UPI-Collect Requests.

Under the UPI Scan n Pay at the merchants physical place, the customer can pay through UPI App.

UPI-Collect is one of the most preferred payment modes to buy goods / services on

e-commerce sites.

Under the UPI-Collect mode, customer need not disclose their bank account details. They can just key in the UPI VPA, and log into the respective UPI App to complete the payment.

Major e-commerce players have their own UPI handles to receive payment from their customers. EG: Amazon Pay has 2 UPI Handles.,

Axis Bank@apl

Yes Bank@yapl

Now with the above circular, e-commerce players will have to offer a choice to their customers to pay from any UPI App.

In case of any customer complaints, NPCI may take appropriate action, as the case might be.

Read the complete NPCI Cir No 142 @ https://www.npci.org.in/PDF/npci/upi/circular/2022/UPI-OC-142-Acceptance-of-UPI-based-payments-by-merchants.pdf