NPCI Mandates Display of Ultimate Beneficiary Name in UPI Transactions

The National Payments Corporation of India (NPCI) has issued an addendum (accessible here) requiring that the ultimate beneficiary’s name, as per bank records, be displayed during both person-to-person (P2P) and person-to-merchant (P2M) transactions on UPI apps. This replaces the use of aliases or names derived from QR codes. Additionally, UPI apps must disable any functionality that allows users to modify the beneficiary’s name within the app interface. All participants in the UPI ecosystem are required to comply by June 30, 2025; failure to do so will be considered non-compliance.