GOOGLE PAY, PHONEPE, PAYTM USAGE RULES HAVE CHANGED.IF YOU DON'T KNOW THE MONEY CUT ACCOUNT WILL BE EMPTY.

           The use of apps like Google Pay, Phone Pay, Paytm is increasing day by day.  Because these third party UPI apps do not have any limit to transact.  Besides, it is possible to do online work like mobile recharge, money transfer, bill payment within seconds.

           But this time, it seems, neontron is going to come to that task.  It is time for the Center to take the first step to build a digital India.

At the moment, Google Pay, PhonePe, Paytm have increased market share of almost 80 percent in the country.  The National Payments Corporation of India or NPCI is looking to rein in transactions to reduce the market power of such third party apps (TRAP) and reduce various risks involved in transactions.  In that case, NPCI proposed to keep 30 percent transaction limit for third party apps.

         Transactions on Google Pay, Phonepe, Paytm will no longer work as before.

             Third party apps like Google Pay, PhonePe, Paytm – transactions are at record levels.  As a result NPCI wants to take strict steps to avoid various types of risks in these transactions.  In that case, a limit of 30 percent is being imposed on transactions with third party app providers.  As a result, the limit will expire after sending or lending a certain amount.  If you transact more than that, you will be charged.  And this will result in control.

               According to Reserve Bank sources, total digital transactions of Tk 12.11 lakh crore were done through UPI during this year's Puja.  A total of 730 crore transactions have been done.  There were 678 crore digital transactions through UPI in September.  The total amount of money transacted is 11.16 lakh crore.  And gradually the volume of transactions is going to increase.  2 to 3 books are required to update customer's bank passbook every month.
                  It is reported that RBI officials have already had a meeting with NPCI.  The meeting was attended by the officials of the Ministry of Finance and RBI besides the officials of NPCI.  It is said that a final decision may be taken before the end of December.  But it is certain that GooglePay, PhonePe, Paytm apps will be controlled at the root of everything.

                    Meanwhile, NPCI may decide on the implementation of UPI Market Cap by the end of this month.  However, there are requests from industry stakeholders to the NPCI to extend the deadline.  However, it is reported that no decision has been taken to extend the deadline of December 31.
             Do GooglePay, PhonePe, Paytm apps require regulation?  You can give your opinion in this regard by commenting below.

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