PhonePe GPay Amazon Pay Paytm BIG CHANGE: In a major development in Unified Payments Interface (UPI) transactions the National Payments Corporation of India (NPCI) has announced that the UPI service will allow larger payments for certain merchants. The limit of several transactions has been raised specifically for high-value sectors like insurance investments travel and credit card bills. Taking a major step towards making high-value digital transactions easier through UPI NPCI has increased the transaction limit to Rs 10 lakh. These changes have come into effect from today 15 September. Where Will The New Limit Be Applicable And Who Will Be Eligible To Use This Servie? The revised UPI payment limit will take effect for person-to-merchant payments. It simply means that the changes will be applicable on payments to verified merchants and organisations. Under this user will be allowed to make payments of Rs 5 lakh and Rs 10 lakh depending on categories. As per the notification issued on 24 August while informing about the change NPCI mentioned that the UPI has become the most preferred payment mode of people because of increasing demand and facility of large transactions. The decision to increase the daily UPI payment limit has been made due to the increasing demand from users. Check The Changes Below: Category Per Transaction Limit Daily Limit Capital Market Investments Rs 5 lakh Rs 10 lakh Insurance Payment Rs 5 lakh Rs 10 lakh GeM Transactions Rs 5 lakh Rs 10 lakh Travel Payment Rs 5 lakh Rs 10 lakh Credit Card Bill Payment Rs 5 lakh Rs 6 lakh Merchant Payments Rs 5 lakh No daily limit Jewellery Payment Rs 2 lakh Rs 6 lakh Forex Retail (BBPS) Rs 5 lakh Rs 5 lakh Digital Account Opening Rs 5 lakh Rs 5 lakh No change in P2P payment limit Is Their Any Change In Sending Money From One Individual To Another? It is worth noting that there has been no change in the limit of sending money from one individual to another through Person-to-Person. The limit of the transaction will remain Rs 1 lakh per day.