HDFC bank to stop SMS alerts for transactions up to ‘this’ amount

HDFC bank to stop SMS alerts for transactions up to ‘this’ amount

HDFC Bank branches across India will soon change their notification system for small UPI transactions.

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Beginning June 25, HDFC Bank will no longer send SMS alerts for UPI transactions of up to Rs 100. Customers will only receive SMS notifications for transactions above Rs 100 for money sent or paid, and above Rs 500 for money received. The bank has informed its customers about this change through emails and has advised them to keep their email addresses updated to continue receiving notifications for all UPI transactions.

HDFC Bank has not explained why it is stopping SMS alerts for transactions under Rs 100.

In India, digital payments are becoming more popular, with more people using the internet for transactions. The UPI system, which allows quick and easy payments through a mobile-based interface, is leading this trend. UPI, or Unified Payments Interface, lets users make instant payments using a Virtual Payment Address (VPA). Its use has grown rapidly, making it a favourite for retail digital payments in the country.

The Indian government is also working to spread the benefits of UPI beyond India. Countries like Sri Lanka, Mauritius, France, UAE, and Singapore are partnering with India to adopt similar fintech and payment solutions.

UPI now accounts for nearly 80% of digital payments in India, and in 2022, India made up about 46% of the world’s digital transactions. This shows the significant role UPI is playing in transforming how people pay and get paid in India and beyond.