NPCI asks for blocking inactive online payment accounts from Dec 31

Monday, 20 November 2023 | PNS | DEHRADUN

As per the National Payments Corporation of India (NPCI)’s recently issued circular, the online payments through Goggle Pay, Paytm and PhonePe among others would be blocked from December 31 this year if these accounts have not been used for a year in monetary transactions. NPCI sources cited user security for taking this step of blocking such online payment accounts. These sources further said that such inoperative online transaction accounts can be used for fraudulent practices. Besides, the step is meant to stop accidental transfer of money to unintended recipients.

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