6 Precautions to Stop UPI Transactions from Failing

With the advent of the Unified Payments Interface (UPI), digital payments have become a reality and eased the lives of most of us, who can now make instant payments with a click. No matter whether you have access to your bank’s portal or app, if you have a bank account linked to a UPI service, you can still do transactions without worries. Through UPI, you can do cashless transactions immediately. Imagine you have a UPI app, then you do not have to skim through your wallet to make payments or swipe your credit or debit card.

Simply open the UPI application, enter the PIN, the amount you want to send, and the receiver’s details, and you are sorted. However, sometimes a UPI transaction can fail or get stuck, and this can lead deduction of the amount from your bank account or a delay in the processing of payment. It is also possible that the transaction fails completely. If there is a processing delay, then the fund will either revert to your bank account or go to the receiver within a stipulated time.

And in case of a failed transaction where the amount is deducted, you can expect a refund. If that does not work, you will have to raise an issue with the UPI platform, or your bank for resolution. While several reasons exist for UPI payment failures, there are a few steps you can take to prevent such a mishap, and below, we have discussed the same.

1.            Note the UPI Daily Transaction Limit

Every bank has a limit posed on the amount you can transact on UPI app daily. As per the NPCI guidelines, you can send a maximum of Rs. 1 lakh in one UPI transaction. If you have exhausted the daily transfer limit, or have already made around 10 transactions through the UPI, then for the next 24 hours you need to wait until your daily limit is renewed. In case you are amid payment, and face this issue, try another payment method or a different bank account.

2.            Review the Details of the Receiver

The foremost thing to check is the examine the receiver’s details. Do you have the right UPI Id, bank account number, IFSC code, or phone number? Have you entered the correct information? If there is a mismatch in any of these inputs, the UPI payment will not go through. And if any amount is deducted from you, it shall be refunded to you within a few days. But it is best to take preventive methods and rather recheck the receiver details before sending money.

3.            Internet Connectivity Issues

Sometimes UPI transactions fail because of internet connectivity problems. It is basically, one of the leading causes of payment not through the UPI service. You can check the network connection before paying someone to see if there is a signal. Moving around to a spot where the signal of the internet is strong before initiation of a transaction.

If there is still a persistent internet issue, then restart your device or put it on airplane mode and switch it off to see if there is an improvement. If your personal internet connection is not good, you can take the internet from another person’s device through a hotspot and complete the UPI transaction.

4.            Check the UPI PIN You Enter

You may have many things to memorize right from the ATM card pin, internet banking password, phone lock password, and that of your email id, etc. Thus, you can forget your UPI PIN. In case that happens, then click ‘Forget UPI PIN’ to reset the same. Depending on the UPI app you are on, follow the instructions and set a PIN that you will remember.

But keep the details confidential and do not share it with any third party. If you tend to forget the PIN, then note it down somewhere safe, which only you can access. If anyone else comes across the PIN and misuses it, you can lose a lot of money.

5.            Link More Than One Bank Account to the UPI

It is possible that bank servers are busy for some time. If a particular bank’s server is busy, and you have your UPI Id linked to that bank, then the UPI payment will not be successful. So, you can add another bank account to the UPI and use it to make the transaction. This way, even if one of the bank’s servers is busy, you will have a backup. But do maintain the required balance in the backup account so that if you use it for UPI payments, there is some balance in it.

6.            UPI Lite for Small Transactions

Network issues and slow bank servers are some of the reasons for payment failure through UPI. But last year, NPCI launched UPI Lite to help users with this problem. You can pay up to Rs. 200 at one time. This instant payment is without the requirement of entering a UPI PIN. Also, you do not have to depend on bank servers. In a day, you can send a maximum of Rs. 2000 twice and Rs. 4000 is the cumulative daily usage. UPI Lite service at present is available on PhonePe and Paytm. However, other payment apps will soon adapt to this facility.

To Conclude

UPI payments are feasible but the same can fail. But you can step up and ensure the transactions do not fail by following some precautions. At the same time, follow some alternatives to ensure the success of UPI transactions.