Unified Payments Interface (UPI) has enabled India with a quick and easy way to send and receive money online.
The process is all set to become even faster from June 16. From balance checking to auto-payment mandate, UPI has also finalised several notable changes, which will be implemented after July.
The National Payments Corporation of India (NPCI), which oversees UPI, said in a circular dated April 26, 2025, that they are working to reduce the response time of UPI transactions to improve the performance. The official release mentioned that the adjustments will benefit remitter banks, beneficiary banks and Payment Service Providers (PSPs), such as PhonePe, Google Pay and Paytm.
