Gamers won’t be able to shop for Rs 50 or less on gaming apps via the Unified Payments Interface (UPI) because the UPI-governing body, the National Payment Corporation of India (NPCI), is reportedly planning to ban all such transactions.
The rule is likely to be announced soon. The NPCI is taking the decision to moderate UPI volumes that have taken off since the first set of lockdowns that were introduced in early 2020.
In the past few weeks, NPCI has witnessed a massive surge in transactions below Rs 50. According to a report by Economic Times, the surge has led to increased transaction loads that could lead to frequent system outages.
The craze of fantasy leagues during the ongoing Indian Premier League (IPL) 2021 is likely to have aggravated the situation, as many gamers are trying their luck on leagues that start at prices as low as Rs 1.
According to a message by NPCI that was accessed by Outlook, the payments handling body said, “This is to inform you all that (National Payments Corporation of India) NPCI will block all UPI transactions of INR 50 and less for all gaming merchants. The timeline for the same is unknown yet but from some resources we have heard that it might be done in the next 24 hrs. We request you to be prepared with this and let us know if Paytm can help you in anyway.”
How you can still add Rs 50 or less to gaming apps?
If NPCI bans UPIs payments below Rs 50 for gaming apps then you can easily use payments modes such as net banking, credit and debit cards, mobile wallets, among others.
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Source: Zee News