UPI to display only bank-verified names from June 30

Starting June 30, 2025, UPI apps like PhonePe, Google Pay, and Paytm will display only bank-verified account names during transactions, replacing contact-saved nicknames. Announced by NPCI, this move aims to curb fraud and enhance transparency. With over 1300 crore UPI transactions monthly, the update aims to reduce impersonation risks and mistaken transfers in India's digital payment ecosystem.