UPI Transactions Now Faster: Banks and Apps to Adopt New Standards

Unified Payments Interface (UPI) transactions are set to become significantly faster, following a new directive from the National Payments Corporation of India (NPCI). According to the latest circular issued by NPCI, the response time for completing a UPI transaction will be reduced by approximately 50 percent starting June 16.

Until now, users sending money via UPI or scanning a QR code had to wait for a certain duration to see the confirmation message indicating transaction success. In some cases, this waiting time was noticeably long. NPCI has now announced that this delay will be substantially minimized.

As per the revised guidelines, transactions involving credit and debit will be completed within just 15 seconds—down from the current duration of 30 seconds. Moreover, the time taken for additional processes such as fetching transaction status, reversing failed transactions, and address verification will be reduced from 30 seconds to only 10 seconds.

NPCI stated that these changes aim to enhance the overall user experience. It has advised payment service providers such as Paytm and PhonePe, as well as banks, to upgrade their systems to meet the new response time requirements by June 16.