5 Common Reasons Why UPI Transactions Fail

The payment was made using a bank account that is not a registered bank account.

When a customer chooses one registered bank account on the merchant website to initiate the payment but tries to pay from another unregistered bank account on the payment service provider app, it is one of the most frequent mistakes that results in unsuccessful UPI transactions. A "Third Party Validation" failure is another name for this problem. In order to ensure smooth business transactions and secure user data and payments, transactions must be done by users exclusively from their registered bank accounts, according to Securities and Exchange Board of India (SEBI) norms.

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The daily limit of UPI Payments is exceeded

The bank has imposed a daily cap on the total number of UPI Payments that can be made by users. Ten UPI Payments are generally the daily cap set by banks for each bank account. The consumer has two options if their credit has been used up: they can use a new registered bank account or try the transaction again in 24 hours using the same bank account.

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Insufficient Funds in the Account

This is a frequent cause of unsuccessful UPI transactions. When a user tries to pay an amount that is greater than what is now in his bank account, it happens. To prevent such mishaps, users should always attempt to check the balance in their bank account before beginning a transaction.

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UPI payment request was abandoned.

A notification is delivered to the user's payment service provider app (sometimes referred to as PSP App) when the user enters his UPI ID (VPA) to make a payment on a merchant app; the user must then authorise the notice in order for the payment to be successful. When the user does not accept the payment request within the time frame specified on the merchant app, an error is generated. The time limit varies depending on the business and is often 3 to 10 minutes.

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The daily UPI amount cap has been reached.

The daily transaction limit determines the most money a user can send or receive each day using the UPI payment system. The daily transaction cap for banks is typically Rs 1 lakh, but it varies from bank to bank. All users should check the daily transaction limit permitted by their banks in order to prevent such failures because if the user tries to transfer an amount larger than the limit, their transaction will fail.