1. UPI Service Overview
SkyPay's UPI services enable you to send and receive money instantly using the Unified Payments Interface (UPI) framework regulated by the National Payments Corporation of India (NPCI).
2. Account Linking
To use UPI services, you must link at least one UPI-enabled bank account.
3. Transactions & Limits
As per NPCI guidelines and RBI regulations, the following limits apply:
- Per Transaction Limit: ₹1,00,000
- Daily Limit: As set by your bank (typically ₹1,00,000)
- IPO/Merchant Payments: Up to ₹5,00,000 per transaction
- Transactions are processed 24x7, typically instantly
4. UPI PIN Security
Your UPI PIN is your most sensitive credential. SkyPay will NEVER ask for your UPI PIN through any channel.
5. Transaction Failures & Refunds
Transactions may fail due to insufficient balance, incorrect UPI PIN, technical issues, or daily limits exceeded.
6. Dispute Resolution
If you believe a transaction is incorrect or unauthorized, contact our support team immediately.
- Disputes must be raised within 30 days of the transaction
- Provide transaction reference number, date, amount, and description
- Investigation completed within 7-10 working days
- You will be notified of the investigation outcome
For urgent UPI issues, contact our 24/7 helpline at 1800-XXX-XXXX
7. Security Measures
Your transactions are protected by multiple layers of security:
- Multi-factor Authentication: UPI PIN + Device binding
- End-to-end encryption on all transactions
- Biometric authentication support
- Real-time fraud monitoring
- Instant SMS/push alerts for all transactions
8. Compliance & Regulations
Our UPI services comply with all applicable regulations:
- RBI (Reserve Bank of India) guidelines
- NPCI (National Payments Corporation of India) regulations
- Payment and Settlement Systems Act, 2007
- IT Act, 2000 and related cybersecurity norms
- KYC and AML (Anti-Money Laundering) regulations
Last updated: 26 February 2026 · legal@skypay.in
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