RBI launches four UPI initiatives at Global Fintech Festival 2025

New fintech features at Global Fintech Fest 2025 enhance UPI payments, bank interoperability, and seamless credit usage

The RBI on Wednesday launched four new  digital payment initiatives — Internet-of-Things (IoT)-based UPI Payments, an interoperable net banking solution, UPI Reserve Pay, and AI-based UPI Help powered by NPCI’s Small Language Model (SLM) at the Global Fintech Festival.  It also introduced biometric authentication for approving UPI payments without PINs, and a face authentication feature using UIDAI’s app-based biometrics to simplify onboarding and remove the need for debit cards to set UPI PINs. 

IoT payments with UPI: Users can make UPI payments for services like fuel, EV charging, or other services via connected cars, smart glasses, or smart TVs Banking Connect: Allows interoperability between banks and payment aggregators. PAs gain access to all participating banks with a single integration.

 

UPI Reserve Pay: Users can block part of credit cards or pre-sanctioned credit limits to simplify repeat purchases across 

e-commerce platforms, food delivery apps, cab aggregators AI-based UPI Help: AI-powered support system addressing complaint resolution and mandate management.  Users can check transaction status, raise and track complaints, manage mandates, and provide contextual guidance.