NPCI introduces UPI Tap & Pay, revolutionizing the way we transact digitally through UPI. Stay tuned for more detailed insights and instructions on how to leverage UPI Tap & Pay for swift and secure transactions.
In a bid to further streamline and enhance the user experience with UPI transactions, the National Payments Corporation of India (NPCI) is all set to launch a groundbreaking feature called UPI Tap & Pay on January 31, 2024.
As of now, methods such as Scan & Pay, Pay to Contact, and UPI Number are commonly used for UPI transactions. The introduction of UPI Tap & Pay aims to offer yet another convenient and efficient mode of conducting transactions, leveraging Near Field Communication (NFC) technology.
Understanding UPI Tap and Pay
The UPI Tap to Pay option functions similarly to existing features like Scan & Pay but operates through Near Field Communication (NFC) technology. Instead of scanning a QR code, the user taps their device on the receiver’s device to retrieve the Payee’s UPI ID/VPA, thereby simplifying and accelerating UPI transactions. Notably, this feature is compatible only with mobiles and devices equipped with NFC capability.
Distinctive Aspects from Scan and Pay
While Scan & Pay involves scanning the receiver’s QR code with the camera to obtain their UPI ID/VPA, UPI Tap & Pay bypasses this by enabling users to tap their device on the receiver’s device, leveraging NFC to retrieve the necessary payment details.
Transactions via Tap & Pay can be executed on NFC smart QR codes, NFC QR soundboxes, or UPI smart tags that support NFC technology.
Making a Tap & Pay Transaction: A Step-by-Step Guide
- Open the UPI app on your device.
- Select the Tap & Pay icon and enter the transaction amount.
- Tap your device on the receiver’s NFC-enabled device, QR code, or UPI Tag.
- Upon successful confirmation on your app, the transaction is completed.
- For transactions up to Rs. 500, the UPI LITE account, if enabled, will process the payment upon tapping. For transactions exceeding Rs. 500, a UPI PIN will be required for online processing.
The introduction of UPI Tap & Pay is poised to revolutionize UPI transactions, offering users a faster, more secure, and hassle-free way to conduct payments through the innovative use of NFC technology. This new feature aligns with NPCI’s commitment to continuously enhance the digital payments landscape in India, providing users with a seamless and convenient experience.