HDFC Bank Ends SMS Alerts for Low-Value UPI Payments

HDFC Bank

HDFC Bank Ends SMS Alerts for Low-Value UPI Payments: HDFC Bank has imposed a new SMS alert rule that it will not send any SMS alerts for the Unified Payments Interface (UPI) for any transfer of money below Rs 100 and Rs 500 for payment received.

This new rule will come into effect from June 25 and the HDFC has told their users that they will still get emails about all UPI transactions. Users should make sure that their main user emails are added and updated with the UPI app.

The new SMS alert rule will be implemented to reduce the huge cost of sending SMS so to finance money for these SMS, the bank has to pay a few crores from a large number of UPI transfers.

After the feedback of Low-value transactions, this decision was made by the HDFC Bank.

Banks are continuously putting their efforts their efforts in making the Unified Payments Interface (UPI) technology more advanced and providing a better user experience.

Earlier, Paytm also introduced UPI Lite Wallet Offers Seamless And Faster Transactions by collaborating with bank partners.

Paytm UPI Lite Wallet is basically for low-value payments and can make transactions up to Rs 500.

Thus, this big step from HDFC by focusing on email-based notifications rather than SMS alerts will also lower the cost for HDFC and will offer a more efficient and smooth banking experience.

Unified Payments Interface (UPI) was first introduced in 2016 however the growth of UPI has been significantly noted. As per the reports, In 2023 the UPI showed a 60% growth, and as of April UPI has crossed Rs 1,330 crore mark.

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