UPI fraud clampdown: NPCI to end P2P collect requests from October 1; Banks, apps told to block pull transactions permanently
To curb financial fraud, the National Payments Corporation of India (NPCI) has directed banks and payment apps to discontinue peer-to-peer (P2P) 'collect requests' on UPI by October 1, 2025. This move eliminates a high-risk channel, reducing fraud by ensuring all P2P transactions are payer-initiated, requiring users to scan a QR code.
To curb financial fraud, the National Payments Corporation of India (NPCI) has directed banks and payment apps to discontinue peer-to-peer (P2P) 'collect requests' on UPI by October 1, 2025. This move eliminates a high-risk channel, reducing fraud by ensuring all P2P transactions are payer-initiated, requiring users to scan a QR code. What's Your Reaction?
