The National Payments Corporation of India (NPCI) is tightening rules to stop unauthorized use of UPI IDs by fintech companies.
Effective from January 2025, these changes will require all third-party apps to verify UPI IDs through the NPCI. Companies must register their UPI apps with the NPCI to ensure they comply with the new guidelines. This move aims to safeguard user data and prevent fraud. NPCI has also stated that only licensed entities can offer UPI services. This is a significant step to maintain the integrity of digital payments in India.