Srinagar, Jan, 02: Unified Payments Interface (UPI) is one most used everyday payment method in India. The digital payment method is accessible almost everywhere and it has significantly reduced the burden of carrying cash or wallet. The ease of using the service directly from the smartphone has helped in its wider adoption and option to use the service through various apps such as Google Pay, PhonePe, Paytm, Amazon Pay and others has also helped the small vendors and business owners to accept payments. But do you know there is a limit on the amount that you can transact via UPI?
As per National Payments Corporation of India (NPCI), a user can only transfer up to Rs 1 lakh via UPI in a day. Apart from this, the amount that you can transfer via UPI in a day also depends on your bank and the app that you are using. It is worth noting that no bank allows more UPI payments of more than Rs 1 lakh within 24 hours. Here the UPI transactions limit on popular apps including Google Pay, PhonePe, Amazon Pay and Paytm.
Google Pay or GPay users can not send more than Rs 1 lakh via UPI in a single day. Other than this, the app also does not allow users to make more than 10 transactions in a day. This means you can make either a single transaction of Rs 1 lakh or up to 10 transactions of various amounts.
In accordance with NPCI, Paytm also allows only up to Rs 1 lakh payment in a day. Other than that, Paytm does not have any restriction when it comes to UPI payments.
PhonePe has almost similar transaction limits as Google Pay with a payment limit of Rs 1 lakh for a day but the app does not have a limit of 10 transactions in a day. It also does not have any hourly limit.
Amazon Pay allows making payments up to Rs 1 lakh via UPI. The app allows 20 transactions in a day and new users can only transact up to Rs 5,000 in the first 24 hours.