Unified Payments Interface (UPI) is a popular payment method in India that allows users to make online transactions using their mobile phones. There are several different UPI-based payment platforms available in India, including Google Pay, PhonePe, Paytm, and Amazon Pay. Each of these platforms has its own daily transaction limit, which determines the maximum amount that a user can transfer or receive in a single day.
Google Pay is a digital wallet and online payment system that is developed by Google. If a user attempts to send Rs 1,00,000 in one day across all UPI apps, Google warns that the user may exceed a daily limit on the official support page. Additionally, if a user attempts to send money more than 10 times in one day across all UPI apps, a limit may be reached. In addition, if a user requests more than Rs 2000 in cash from a third party, they may exceed a limit.
PhonePe is a digital wallet and UPI-based payment platform that is owned by Flipkart. A person can only initiate a maximum of 10 or 20 transactions from PhonePe UPI each day, while PhonePe has maintained the daily cap for money transfers at Rs 1,00,000.
Paytm is a digital wallet and online payment platform that is popular in India. The daily transaction limit for Paytm is Rs 10,00,000 for users who have completed their KYC, and Rs 20,000 for users who have not completed their KYC. Remember once more that banks have the ability to stop the entire transaction.
Amazon Pay is a digital wallet and online payment platform that is developed by Amazon. According to Amazon Pay, users can only transfer a maximum of Rs 5000 in a 24-hour period following the first successful transaction. The maximum UPI transaction is Rs 1,000,000. According to Amazon Pay, this is the monthly cap. The maximum spend limit for merchant payments for consumers with full KYC is Rs 30,000. Additionally, each UPI ID can only receive five collect requests per day from Amazon Pay balance.
It is important to note that these daily transaction limits are subject to change, and may vary depending on a variety of factors. It is best to consult the customer support or the website of the specific platform you are using to get the most accurate and up-to-date information on their transaction limits.
