New Delhi
The UPI payment you pay is going to be faster now. After the order of the National Payments Corporation of India, now the transactions will be completed in just 15 seconds. Earlier it used to take 30 seconds. That is, now your mobile is going to be 50 percent fast. This process is going to start from 16 June, in which API Response Time will play an important role. So far, people have to wait in sending money from the UPI app, scanning the QR code and to confirm the transaction, which becomes quite long at times. NPCI has decided to reduce this delay.
What is API Response Time, which is being reduced
The API Response Time, the time is called the request for the API, is processed and it takes the time to send the rest. API means application programming interface. It is a set of rules, according to which software connects each other. It is used in UPI Payment System.
Understand how the system will work
According to the TOI report, you went to a shop and you bought a thousand rupees goods from the shopkeeper. You pay with ICICI Bank’s Imobile App. So you will scan the shopkeeper’s QR code. Now that QR code is associated with HDFC Bank account. ICICI bank will request in this situation. HDFC will go to HDFC Bank through NPCI network. The Response will be sent by HDFC Bank to know whether the payment is made or not. Which will again come to the ICICI Bank from the NPCI network. Earlier this work used to take 30 seconds. It is expected to take 15 seconds from June.
Payment will be done in just 15 seconds
After this change, now the response time of request pay and response pay service has been reduced from 30 seconds to 15 seconds, check transaction status and transaction reversal for reversal and 10 seconds for validate address. The objective of this change accelerated the payment process and the potential of UPI accelerated. These changes are due to the increasing popularity of UPI as a digital payment system in India.
To accommodate this growth and improve users’ experience, NPCI has asked banks and payment service providers (PSP) to update their system to follow the new response time. It is important to note that the purpose of these changes is not to compromise the success rates of transactions.
When UPI got interrupted in payment
This change has come at a time when UPI recently faced many outage. On April 12, a big outage came, in which many transactions failed and users had to face major problems. Three times in March and April, on 26 March, April 1 and April 12, there was a hindrance, which caused a lot of trouble in digital payment.
Why did you get outage?
In the investigation of NPCI regarding these outage, it was revealed that the major reason for these obstacles was loaded on the check transaction API. Requests were being sent repeatedly for old transactions of some banks, which increased pressure on the system and slowed down processing.
People’s experience will be better, payment will be instant
NPCI wants to make UPI payment fast. He believes that new changes will lead to better experience. NPCI has also asked big players like Phonpe and Paytm to update their system as per the new rules. The circular of NPCI states that the purpose of these changes is to improve the user’s overall experience. She wants all the people using UPI payment to be able to pay quickly and get the money from them immediately. In the coming days, it will be known how effective this decision of UPI proves to be.
