Current Affairs - Finance - Discussion

The National Payments Corporation of India (NPCI) has announced that peer-to-peer ‘collect requests’ on UPI will be discontinued starting October 1, 2025. This feature, which allowed one user to request payment approval from another, had become a major loophole exploited by fraudsters, despite transaction caps and limits. By mandating only payer-initiated (push) transactions such as QR code scans or manual entry of recipient details, NPCI aims to strengthen digital payment security. The move affects all UPI apps including PhonePe, Google Pay, and Paytm, and is expected to enhance trust, reduce fraud risks, and ensure safer digital transactions nationwide.