Since the introduction of Unified Payments Interface (UPI), money transactions have become easier. You can send or receive money using only your UPI ID. Now it doesn’t matter whether you have cash or not, just have money in your bank account and you can easily pay or receive money through UPI. UPI works from the smallest grocery stores and auto rickshaws to paying electricity bills and air tickets, and is now accepted almost everywhere. However, UPI transactions also have some limitations.
According to the National Payments Corporation of India (NPCI), a person can transfer up to Rs 1 lakh through UPI in a day. Amazon Pay, Google Pay, Paytm and PhonePe are some of the commonly used applications for making UPI transactions. These platforms have set various maximum limits.
| Service Provider | No Of Transactions in a Day | Maximum Amount in 24 HR | Maximum Amount in Per Transition | Additional info |
|---|---|---|---|---|
| PayTM | 20 | 1 lakh | 20,000 | There is a cap of a maximum of five transactions per hour |
| PhonePe | 10 or 20 depending on bank | 1 lakh | Varies from bank to bank. | A PhonePe user can request a maximum amount of just Rs 2,000 from someone in a day. |
| GPay | 10 | 10 lakh | Varies from bank to bank. | Money request 2,000 |
| Amazon Pay | 20 | 10 lakh | Varies from bank to bank. | New users can only transact up to INR 5,000 in the first 24 |