{"id":372349,"date":"2026-09-22T15:58:15","date_gmt":"2026-09-22T10:28:15","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=372349"},"modified":"2026-09-22T15:58:15","modified_gmt":"2026-09-22T10:28:15","slug":"upi-tap-and-pay","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/upi-tap-and-pay\/","title":{"rendered":"UPI Tap and Pay"},"content":{"rendered":"<div class=\"content-box-green\">\n<p><strong>News:<\/strong> RBI announced UPI Tap and Pay, MyUPI and multicurrency foreign exchange facilities at the Global Fintech Fest 2026.<\/p>\n<\/div>\n<h2 class=\"red-h2-box\">About UPI Tap and Pay<\/h2>\n<figure id=\"attachment_372357\" aria-describedby=\"caption-attachment-372357\" style=\"width: 300px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-372357\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-Zee-Business.jpg?resize=300%2C168&#038;ssl=1\" alt=\"UPI Tap and Pay\" width=\"300\" height=\"168\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-Zee-Business.jpg?resize=300%2C168&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-Zee-Business.jpg?resize=768%2C430&amp;ssl=1 768w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-Zee-Business.jpg?w=926&amp;ssl=1 926w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-372357\" class=\"wp-caption-text\">Source &#8211; Zee Business<\/figcaption><\/figure>\n<ul>\n<li><strong>UPI Tap and Pay<\/strong>\u00a0is a <strong>contactless payment facility.<\/strong>\n<ul>\n<li>It\u00a0 allows users to <strong>make UPI payments by tapping<\/strong> an <strong>NFC-enabled smartphone<\/strong> on a <strong>compatible Point-of-Sale (PoS) terminal.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Technology used:<\/strong> It uses <strong>Near-Field Communication (NFC) technology<\/strong>, which <strong>enables nearby devices to exchange information wirelessly.<\/strong><\/li>\n<li><strong>Working mechanism:<\/strong>\n<ul>\n<li><strong>Device requirement<\/strong>: Users <strong>need an NFC-enabled smartphone<\/strong> and a <strong>compatible PoS terminal at the merchant outlet.<\/strong><\/li>\n<li><strong>Payment process:<\/strong> Users unlock their smartphone and <strong>tap it on the PoS terminal<\/strong>, after which the <strong>payment is processed through the terminal\u2019s internet connection.<\/strong><\/li>\n<li><strong>PIN requirement:<\/strong> Payments up to \u20b95,000 can be made without entering a UPI PIN, while <strong>higher-value payments require a UPI PIN.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Key features of UPI Tap and Pay:<\/strong>\n<ul>\n<li><strong>QR-free payment:<\/strong> Users can <strong>make payments without scanning a QR code or entering payment details manually.<\/strong><\/li>\n<li><strong>No mobile data requirement:<\/strong> The <strong>user\u2019s phone does not necessarily need an active mobile data<\/strong> connection during the transaction.<\/li>\n<li><strong>Multiple account support:<\/strong> The facility <strong>supports regular UPI-linked accounts and RuPay credit cards linked to UPI.<\/strong><\/li>\n<li><strong>Contactless experience:<\/strong> It provides a payment experience <strong>similar to contactless card transactions.<\/strong><\/li>\n<li><strong>NFC dependency:<\/strong> Both the <strong>smartphone and merchant\u2019s PoS terminal must support NFC<\/strong> and the <strong>new payment functionality.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 class=\"red-h2-box\">About MyUPI<\/h2>\n<ul>\n<li><strong>MyUPI<\/strong>\u00a0is an <strong>AI-powered platform.<\/strong>\n<ul>\n<li>It provides <strong>users with a single view of their UPI transactions and AutoPay mandates.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Developed by:<\/strong> It has been developed by the <strong>National Payments Corporation of India (NPCI).<\/strong><\/li>\n<li><strong>Powered by:<\/strong> It is powered by the<strong> Finance Model for India (FiMI) small language model.<\/strong><\/li>\n<li><strong>Aim:<\/strong> It aims to provide <strong>greater control and security over UPI payments.<\/strong><\/li>\n<li><strong>Key features of MyUPI:<\/strong>\n<ul>\n<li><strong>Safety Switch:<\/strong> It allows <strong>users to request rejection of UPI debit transactions if they suspect their account has been compromised.<\/strong><\/li>\n<li><strong>UPI Number Delink:<\/strong> It <strong>allows users to stop receiving UPI payments through their mobile number.<\/strong><\/li>\n<li><strong>Beneficiary information:<\/strong> It provides <strong>contextual information about beneficiaries before eligible payments.<\/strong><\/li>\n<li><strong>Transaction Replay:<\/strong> It allows users to <strong>recall and repeat an earlier transaction through any UPI app.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 class=\"red-h2-box\">About Bharat Connect<\/h2>\n<ul>\n<li><strong>Multicurrency facility:<\/strong>\u00a0RBI has introduced a <strong data-start=\"103\" data-end=\"177\" data-is-only-node=\"\">multicurrency facility for foreign exchange services on Bharat Connect<\/strong>.\n<ul>\n<li>It is being launched initially under a <strong data-start=\"218\" data-end=\"249\">controlled user group (CUG)<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"331\" data-end=\"505\"><strong>Supported currencies: <\/strong>The facility will support the <strong>euro, British pound, Canadian dollar, Swiss franc and UAE dirham,<\/strong> expanding forex services <strong>beyond the US dollar.<\/strong><\/li>\n<li data-start=\"506\" data-end=\"589\"><strong>Bharat Connect operator:<\/strong> <strong>NPCI Bharat BillPay Ltd <\/strong>operates Bharat Connect.<\/li>\n<li data-start=\"590\" data-end=\"731\"><strong>Forex integration:<\/strong> The forex facility is <strong>integrated with FX-Retail,<\/strong> which is <strong>operated by Clearcorp Dealing Systems (India) Ltd.<\/strong><\/li>\n<li data-start=\"732\" data-end=\"905\" data-is-last-node=\"\"><strong>Future expansion: <\/strong>After assessment of the CUG phase, the multicurrency facility is <strong>proposed to be extended to more Bharat Connect channels and participating banks.<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: RBI announced UPI Tap and Pay, MyUPI and multicurrency foreign exchange facilities at the Global Fintech Fest 2026. About UPI Tap and Pay UPI Tap and Pay\u00a0is a contactless payment facility. It\u00a0 allows users to make UPI payments by tapping an NFC-enabled smartphone on a compatible Point-of-Sale (PoS) terminal. Technology used: It uses Near-Field&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/upi-tap-and-pay\/\">Continue reading <span class=\"screen-reader-text\">UPI Tap and Pay<\/span><\/a><\/p>\n","protected":false},"author":10401,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,12039],"tags":[11872],"class_list":["post-372349","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-knolls","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/372349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10401"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=372349"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/372349\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=372349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=372349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=372349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}