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NEW DELHI: In a significant move to enhance user safety and transparency in digital transactions, the National Payments Corporation of India (NPCI) has directed all Unified Payments Interface (UPI) applications to display only the ‘ultimate beneficiary name’, as recorded in the Core Banking System (CBS), during peer-to-peer (P2P) and peer-to-merchant (P2PM) transactions.
In a circular dated April 24, 2025, the NPCI issued an addendum to its earlier guidelines, mandating UPI apps to ensure that only the bank-registered name of the recipient is shown on the transaction confirmation screen and in the transaction history.
The directive must be fully implemented by June 30, 2025, failing which non-compliance action will follow.
According to NPCI, the “ultimate beneficiary” is the person or entity receiving funds for services or goods provided. Going forward, names fetched directly from the Validate Address API – the same used to retrieve official bank names, will be the only ones shown to payers. Names derived from QR codes, contact lists, or user-defined labels will no longer be permitted.
“This change is being introduced to help customers verify they are sending money to the correct beneficiary and to reduce risks of misdirected payments,” NPCI stated in its communication to UPI ecosystem members.
Many UPI apps currently allow users to modify payee display names or generate aliases, making it easier for fraudsters to impersonate trusted brands or individuals. Going forward, this loophole will be shut.
NPCI has clearly instructed that apps must disable any feature that allows users to edit or customise beneficiary names within their interfaces.
The circular comes amid growing concerns over rising UPI-based frauds, often caused by misleading display names that do not match official records. “This step can drastically reduce accidental transfers and fraudulent transactions. Displaying only the bank-verified name adds a key layer of authentication,” said Rahul Jain, CFO at NTT DATA Payment Services India according to an ET report.
The change will particularly impact small merchants who fall under the P2PM category, such as kirana store owners or street vendors, who often receive payments via QR codes embedded with non-official names. Once enforced, customers will be shown only the CBS-registered name, not the store’s brand name or any custom label.
“This will bring much-needed clarity for users and reduce errors. It enhances trust and makes the payment ecosystem more secure,” said Atul Gupta, head of risk & compliance at Cashfree Payments.
Despite some anticipated transition challenges for users accustomed to aliases or nicknames, experts believe the change is a step in the right direction. As Mukesh Chand, senior counsel at Economic Laws Practice, explained, “It helps reduce anonymity and gives users more confidence before authorising a transaction.”
By standardising the way beneficiary names are displayed, NPCI aims to make UPI payments safer, more transparent, and less prone to manipulation.
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