NPS Subscribers May Now Use a UPI QR Code to Make Contributions

Jan 04, 2024 - Views: 278

Rating: 4.7 - 50Votes

According to the Information Bureau of India news release, PFRDA has enabled NPS users to contribute using a UPI QR code.

This allows users to contribute NPS using any UPI app, including GPay, PhonePe, and BHIM. 

Because these payment applications enable users to link their Rupay credit card to their UPI account, customers who own RuPay credit cards may also contribute to NPS. 

On the other hand, subscribers who have activated D-remit IDs can contribute to NPS using a QR code. On the websites of central recordkeeping agencies, your clients can generate the D-remit ID/Virtual ID. 

NPS subscribers can make a contribution via the UPI QR code

NPS subscribers can make a contribution via the UPI QR code

According to PFRDA, every subscriber will receive a unique QR code that they may keep offline and use whenever they want to make payments.

Moreover, Tier I and Tier II NPS accounts will have distinct QR codes. 

As stated by PFRDA, "The implementation of QR code - UPI for D-Remit is a positive & revolutionary step towards increasing the accessibility, effectiveness, and flexibility of NPS contributions." 

Through this PFRDA program, NPS users may take charge of their retirement funds and reap the rewards of methodical investment planning.

Read more: Nanak & Nasim Utilize QR Codes on Posters to Engage Voters

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