National Payments Corporation of India (NPCI) has recently raised UPI limits for merchant/shop payments and capital market transactions. The per-transaction limit for person-to-person will continue as per the extant guidelines. The enhanced limits shall be applicable for merchants that are categorized as “Verified Merchants.”
Categories where higher limits are extended
- Capital Market- Rs 5 lakh per transaction, Rs 10 lakh per day
- Insurance- Rs 5 lakh per transaction, Rs 10 lakh per day
- Government E-marketplace (EMD payments)- Rs 5 lakh per transaction, Rs 10 lakh per day
- Travel- Rs 5 lakh per transaction, Rs 10 lakh per day
- Credit Card Bill Payments- Rs 5 lakh per transaction, Rs 6 lakh per day
- Collections- Rs 5 lakh per transaction, Rs 10 lakh per day
- Business/Merchant (including Pre-approved payments)- Rs 5 lakh per transaction
- Jewellery- Rs 2 lakh per transaction, Rs 6 lakh per day
- FX Retail use case with BBPS Platform- Rs 5 lakh per transaction, Rs 5 lakh per day
- Digital Account Opening for Term Deposits- Rs 5 lakh per transaction, Rs 5 lakh per day
- Digital Account Opening Initial Funding- Rs 2 lakh per transaction, Rs 2 lakh per day
Acquiring member banks are required to ensure that such limits are provided to the merchants that are compliant with the NPCI UPI guidelines wherever applicable. While member banks may continue to set their internal limits based on their internal policy, within the overall ceilings prescribed by NPCI.
The compliance with these new limits will be effective from 15th September.
