UPI gets new features: Tap-to-pay, unified window for transaction details | Finance News

Reserve Bank of India (RBI) Governor Sanjay Malhotra announced the launch of new products on India’s real-time payments system, Unified Payments Interface (UPI). These include the ability to tap-to-pay using UPI at point-of-sale (PoS) terminals and a customer support solution that works on a small language model called Finance Model for India (FiMI).

 

The UPI tap-to-pay feature supports transactions across multiple types of accounts. These include UPI and RuPay credit cards on UPI, with the ability to transact without requiring network connectivity on a mobile phone.

 

The feature is enabled by near-field communication (NFC) technology, which is supported by compatible smartphones and PoS devices.

  

“Users can make UPI PIN-less transactions of up to ₹5,000, above which the user needs to enter their UPI PIN on the POS terminal,” the National Payments Corporation of India (NPCI) said in a statement.

 

The launch was announced at the Global Fintech Fest 2026.

 

NPCI said that transactions authenticated by biometrics, which include methods such as face scans or fingerprints, surpassed 6.29 billion since the launch last year.

 

MyUPI provides users with a single view of UPI transactions and Autopay mandates in a single window across banks and UPI apps.

 

MyUPI introduces features such as User Controls to empower users with a safety net for their UPI payments.

 

This includes a Safety Switch, which allows users to decline UPI debit transactions in case of a suspected compromise.

 

NPCI said the feature also allows users to delink their mobile number from receiving UPI payments. It allows payers to see contextual information when paying a particular merchant. It has the facility for automated chargeback processing, which enables real-time chargeback creation for eligible transactions.

 

On Wednesday, RBI Deputy Governor Rohit Jain announced the introduction of multicurrency capabilities for the forex category on Bharat Connect as part of a controlled user group (CUG) launch.

 

Following the successful completion and assessment of the CUG phase, the offering is proposed to be extended across more Bharat Connect channels and participating banks, NPCI said.

 

It added that the initiative aims to extend the existing forex proposition beyond the US Dollar and provide customers access to a wider range of forex services through a single platform.

 

Operated by NPCI Bharat BillPay Limited (NBBL), the platform integrates with FX-Retail, operated by Clearcorp Dealing Systems (India) Limited (Clearcorp), a wholly owned subsidiary of The Clearing Corporation of India Limited (CCIL), and will now support Euro (EUR), British Pound (GBP), Canadian Dollar (CAD), Swiss Franc (CHF) and UAE Dirham (AED).