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Year Ender 2024: India is at the forefront of digital payments. In 2023, India was in the first position with 40 percent in terms of total online payments. According to the information, in 2023, the number of UPI users was 30 crores and 5 crore merchants were using it. Last year there were 117.6 billion transactions. Online payment in India is progressing 'double by double the night'. There have been some major changes in UPI in 2024. From new limits to new features, what has changed in UPI? Let us know.

Limit increased for feature phone users.

Earlier the UPI limit for feature phone users was Rs 5000, but in 2024 it was increased to Rs 10,000. Through the UPI123PAY service, users can now send up to Rs 10,000 in a day. Online payment can be done through missed calls and IVR.

UPI Lite got better

Along with the UPI123PAY service update, the limit of UPI Lite was also increased this year. Users can deposit up to Rs 5000 in their UPI Lite. Whereas earlier this limit was Rs 2,000. This feature allows users to make small transactions without entering a PIN.

Auto top-up feature

NPCI also launched the auto top-up feature this year. If the user's wallet is low on money, the money is automatically filled. There is no need for any authentication in this. This feature depends on how much money is in the account linked with the wallet.

UPI transaction limit

This year NPCI also took a big decision regarding the transaction limit. The limit for some selected payments was increased from one lakh to five lakhs. Users can now make payments of up to 5 lakhs for things like a hospital, tuition payments, IPOs, and insurance.

UPI Circle
The most special feature this year is the UPI Circle feature. In which users can include any of their family members or friends. In this, the secondary user gets permission to make payments up to the set limit. In this, the secondary user can use the bank account of the primary user to make payments. It is worth noting that for every transaction, the secondary user has to get approval from the primary user.

All the changes made in UPI this year have been made to enhance the user experience. NPCI's aim is to make digital payment easy and accessible to everyone.