Several people reported problems while making online payments through the Unified Payments Interface (UPI) platform on Thursday evening. While some users noticed that their screens got frozen post the payment, others said that it was taking more than the usual time to get the confirmation regarding the payment status. Reacting to this, the National Payments Corporation of India (NPCI), which operates the UPI platform, said that UPI systems were working fine and the issues faced by users were due to some banks experiencing internal technical problems.
There were "intermittent UPI connectivity issues as a few of the banks were having some internal technical problems", the NPCI said in a late evening statement.
Worked With Lenders For Quick Resolution
NPCI, while stressing that the banks' systems faced troubles due to which people faced inconvenience, said that it worked with these banks for a quick resolution.
UPI Transactions Hit Record High
The development comes as the UPI has hit a record number of transactions of 19.47 billion in July. In terms of value, it was Rs 25.08 lakh crore, the second highest after Rs 25.14 lakh crore recorded in May.
UPI, which is already live in seven countries, accounts for 85 per cent of all digital transactions in India. Not just that, it also powers nearly 50 per cent of global real-time digital payments.
UPI Brings In Fresh Limits
Meanwhile, NPCI has restricted the number of times a UPI user can check their account balance via apps to 50 a day. Earlier, there was no limit on checking the balance via the UPI app. NPCI said that the cap is aimed at reducing system load. According to experts, this will keep systems running smoothly and cut down on failed transactions.
RBI Governor On UPI
Reserve Bank governor Sanjay Malhotra recently said that UPI is free for users but someone is already covering the cost.
“Who pays is important, but not as important as the fact that someone must foot the bill. For the sake of sustainability, whether collectively or individually, someone has to pay for it,” he was quoted as saying in some media reports.
