WEB DESK
Digital payment users faced hindrance in processing transactions on India’s real-time payments system, Unified Payments Interface (UPI), for the third time in a week. Retail payments body, National Payments Corporation of India (NPCI), attributed the issue to latency in the UPI network.
“There were some intermittent declines in UPI due to fluctuations in the success rates in some banks. These fluctuations increased the latency in the UPI network. NPCI has been working closely with them and UPI has been stable,” the NPCI said in a statement.
According to outage tracking platform Downdetector, complaints about UPI failures were received throughout the day, peaking in the evening.
The Unified Payments Interface (UPI) is an instant payment system developed and managed by the NPCI, an RBI-regulated entity.
NPCI acknowledged that users of some banks faced problems while transacting through the UPI and it is in touch with them to resolve the issue.
“There were some intermittent declines in UPI due to fluctuations in the success rates in some banks. These fluctuations increased the latency in UPI network. NPCI has been working closely with them and UPI has been stable,” NPCI said in a post on X.
UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties’ bank accounts with no user charge.
It is also widely used for small payments at local shops, as there is no minimum transaction limit. In addition, UPI offers a convenient AutoPay feature, which allows users to set up recurring payments for bills and subscriptions.
