UPI News & Updates

[mhsabir]

I think they were first or among first to set up UPI stickers to get people to download app and set up UPI & it was the first non banking app to have a good UPI experience (atleast then)

So, mostly just retaining first mover's advantage.

 

[Skye]

@mhsabir Yeah, I remember PhonePe was advertising like crazy when UPI released. PhonePe stickers and cards were everywhere.

Soon, Paytm and Google Pay started doing the same but most shopkeepers were already having PhonePe installed and used to it. So, they recommended that over others to their customers who wanted to pay via UPI.

 

[laksh211in]

Surge in UPI payments reduced cash usage: IMF - Times of India

India Business News: NEW DELHI: The rise in UPI payments has helped reduce use of cash in India, a new paper by a team from IMF has said, while using proxies, such as cash.

timesofindia.indiatimes.com

 

[Sushubh]

Yet cash in circulation is supposedly higher than ever! Where is this cash

 

[Smh]

I switched to PhonePe and its my primary upi app now.

They still allow custom upi id which Paytm stopped. Supports upi lite, paytm is already linked to one acc and for some reason 1 app supports 1 upi lite bank acc only.
Faster than Google Pay.
Phonepe also masks your upi id with phone number. You can find from statement sometimes but yeah its a useful but complicated feature.

 

[Sushubh]

isn't leakage of phone number a bigger issue than leakage of upi id?

A random person mistakenly sent 10,000 Rs to my UPI account. Now police is calling me. Details in the post: : LegalAdviceIndia

this thread makes me wonder if there is a way to not have number linked to a upi app.

 

[Smh]

If you scanned a QR code and the upi id is phoneno@upi, PhonePe will mask the phoneno in upi id.

some banks like IDFC show full upi id (any type) in statement but axis bank doesn't show any meaningful info in their statement to reveal upi id.

Yeah I have read multiple threads on that topic and it makes me really scared because its a police sponsored theft with harrassment.

I guess only solution is to keep upi linked to only 1 account and delete receive with phone number feature from apps.

 

[Sushubh]

how do you disable receive money on mobile number functionality

 

[Smh]

I have not tested but Paytm has an option to delete number or change it to a different number of 9 digits. Changing number can increase risk of such incorrect txns so I won't do it.

May be unlinking, deleting third party apps and only using your bank app can reduce chance of such transactions. Most people don't use bank official apps for sending money and if you are not available on third party apps where people use the send to mobile feature, which I guess usually causes these incorrect txn issues. Searching with your mobile should result in not available and you can only receive money with upi id or QR or if other person is also using same upi app from bank.

 

[Sushubh]

I guess I should try installing a new app that I won't be using and seeing if mobile number can be linked to it without any bank account attached