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Economy
Mahesh

08/09/23 06:21 AM IST

NPCI launches new products; users can now make voice-enabled UPI payments

In News
  • The NPCI recently launched a slew of new payment options on popular payments platform UPI, including conversational transactions.
Credit Line on UPI
  • The “Credit Line on UPI” is a game-changer, offering pre-sanctioned credit lines via the Unified Payments Interface (UPI).
  • This innovation grants users instant access to credit, significantly expanding financial inclusivity.
  • It caters to those without traditional banking access, empowering them to meet immediate financial needs and engage in seamless digital transactions, ultimately propelling the shift toward a cashless economy.
UPI LITE X
  • “UPI LITE X” emerges as a digital payment solution designed for offline transactions, ensuring users can make payments even when internet connectivity is limited.
  • This feature enhances the resilience of the digital payment landscape, particularly in regions prone to connectivity issues or during network disruptions.
  • Users can continue to transact conveniently under various circumstances, fostering uninterrupted access to digital payments.
UPI Tap & Pay
  • UPI Tap & Pay” revolutionizes the digital payment experience by advocating the use of QR Code and Near Field Communication (NFC) technology.
  • With a simple tap on NFC-enabled QR codes at merchant locations, users can swiftly and securely complete payments.
  • This technology streamlines the payment process, enhances user convenience, and ensures contactless and secure transactions, making it a valuable addition to the digital payment ecosystem.
Hello! UPI – Conversational Payments on UPI
  • “Hello! UPI – Conversational Payments on UPI” introduces voice-enabled UPI payments in Hindi and English, with plans for regional language support.
  • This groundbreaking feature empowers users to conduct payments through UPI apps, telecom calls, and IoT devices using voice commands.
  • By leveraging voice technology, this innovation enhances accessibility and convenience, particularly for users who may not be comfortable with traditional text-based digital payments.
BillPay Connect
  • “BillPay Connect – Conversational Bill Payments” simplifies bill payment processes, enabling customers to initiate payments with a simple ‘Hi’ on messaging apps or through missed calls.
  • This approach caters to users without smartphones or immediate mobile data access, ensuring a broader population can participate in the digital payment ecosystem.
  • Furthermore, Voice Assisted Bill Payments allow customers to settle bills through voice commands on smart home devices, further enhancing convenience.
  • This feature enhances both the security and convenience of in-person bill payments.
Source- Livemint

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