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UPI payments have become an integral part of daily life in the country. Whether you are buying vegetables, milk, or tea, you will find QR codes available for payment at almost every shop. However, recent news has emerged that is causing concern for lakhs of shopkeepers, as a deadline has been announced for a specific requirement.

In fact, under RBI regulations, merchants are required to complete a Re-KYC process. Industry representatives warn that if a large number of small business owners fail to complete this verification by the deadline, their QR code-based payment services could be disrupted.

**What is the Re-KYC issue? ****
RBI rules mandate that merchants periodically update their KYC information. A deadline of September 15 has been set for this; in other words, completing the Re-KYC process by this date is mandatory. With only a week remaining, business owners are urging the RBI to extend the deadline.

**Impact on the general public**
If small shopkeepers fail to complete their Re-KYC on time, their QR code services will be affected, potentially making it difficult for customers to make payments. Since most people nowadays do not carry cash—or at least not in large amounts—the inability to use QR payments at shops selling tea, vegetables, or milk would inconvenience both the business owners and the customers. Customers might then have to transfer money directly to the shopkeepers' bank accounts. Street vendors and small roadside stalls are likely to be the most affected by this issue.

**Will QR code services be shut down?**
Re-KYC is a mandatory process for all business owners, but it does not mean their QR codes will be permanently deactivated. Once the Re-KYC process is completed, the QR code service will resume. While large businesses are unlikely to face a significant impact, there could be a minor effect on overall sales and transactions. In such a situation, you might need to carry some cash so that you can make payments to small shopkeepers.

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