NPCI launches new products; users can now make voice-enabled UPI payments and three other features. Details here
Shaktikanta Das announced the launch of the products by the National Payments Corporation of India (NPCI) at the ongoing Global Fintech Festival here. One of the products is Hello! UPI that will enable users to make voice-enabled UPI payments via apps, telecom calls, and IoT devices in Hindi and English. It will soon be available in several other regional languages also.
NPCI said the credit line on UPI facility will enable customers access pre-sanctioned credit from banks via UPI. Separately, users will be able to send and receive money offline using the other product, LITE X product. Further, the UPI Tap & Pay facility, in addition to the conventional scan-and-pay method, will allow customers to simply tap Near Field Communication- (NFC-) enabled QR codes at merchant locations to complete their payments.
To expand access to credit, promote financial inclusion and innovation, the RBI Governor launched Credit Line on UPI. This new offering enables pre-sanctioned credit lines from banks via UPI and will revolutionize customer access to credit, fostering a more streamlined and digital banking ecosystem. With this, the process of availing, connecting, and utilizing credit lines will be significantly expedited, driving economic growth and progress.
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