UPI payments users are likely to face inconvenience for the next few days, said the National Payments Corporation of India (NPCI) on Thursday. NPCI took to Twitter and said that the digital payment platform will undergo upgradation process which will take place from 1 am to 3 am over the next few days.
Unified Payments Interface (UPI) platform will be updated for the next few days and that the process is aimed towards creating a "better architecture for the growth of UPI transactions". So, UPI users should avoid making transactions during the time specified by the NPCI. However, NPCI has not specified the days it would take to update the system.
“For you to have a better, safer payment experience, we’re upgrading our UPI platform. UPI users may face inconvenience from midnight 1 am to 3 am for the next few days,” the official NPCI account on Twitter noted.
There 165 banks that are currently listed on the BHIM UPI platform. As of October 2020, the NPCI recorded 155.14 million users on Android and 2.94 million users on iOS.
NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants' end while making purchases. NPCI is an umbrella organization that operates retail payments and settlement systems in India. RuPay, IMPS, Bharat Bill Payment System and BHIM are all products of NPCI.
UPI transactions, which are often person-to-merchant (P2M) payments, make up for around 40 per cent of the transactions, news agency PTI reported citing a study carried out by PricewaterhouseCoopers (PwC).