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UPI's Tap and Pay feature set to launch on January 31, 2024
source link: https://nextbigwhat.com/upis-tap-and-pay-feature-set-to-launch-on-january-31-2024/
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UPI’s Tap and Pay feature set to launch on January 31, 2024
- The National Payments Corporation of India (NPCI) announced that UPI’s Tap and Pay feature will be operational from January 31, 2024, enabling users to make payments by tapping their smartphones at supported merchants.
- The feature uses near-field communication (NFC) technology and works in addition to existing UPI payment modes, simplifying transactions as users don’t need to scan codes or input numbers for low-value transactions.
- Transactions below Rs 500 will debit the user’s UPI Lite account, if enabled, and the feature may potentially extend to smartwatches and other NFC-supporting wearables in the future.
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