The National Payments Corporation of India (NPCI) introduced several new programs focused on its primary unified payments interface (UPI) system, featuring biometric verification capabilities built into devices.

Additionally, the organization rolled out Aadhaar-based facial recognition technology for UPI transactions, allowing users to employ Aadhaar-connected biometric verification when establishing or changing their UPI PIN.

The corporation also unveiled a fresh approach for withdrawing cash through Micro ATMs through UPI at designated UPI Cash Points, operated by business correspondents.

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Most of these products were introduced by Department of Financial Services (DFS) Secretary M Nagaraju during the annual Global Fintech Fest in the city.

The device-based UPI authentication feature allows users to verify UPI transactions using their phone's integrated security features, including fingerprint scanning or facial recognition, instead of manually inputting their UPI PIN.

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This option will be available to users who decide to activate it, providing them with flexibility in choosing their preferred authentication method.

International payments company Paypal also revealed a partnership with NPCI International Payments, an NPCI subsidiary, to incorporate UPI into Paypal World, a worldwide platform scheduled for release in 2025.

This NPCI division represents the first organization worldwide to collaborate with PayPal's upcoming service, which has been in development for nearly 25 years, enabling Indian users to conduct UPI-based transactions with international merchants using Indian rupees.

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Paypal addresses the challenges of international commerce through its cloud-based, multi-regional infrastructure that provides minimal delays and reliable service across the globe.

In addition to these developments, T. Rabi Sankar, Deputy Governor of the Reserve Bank, unveiled multiple products during the event, including a feature enabling joint account holders and accounts requiring multiple signatures to make payments through UPI.

The Deputy Governor also introduced low-value transactions through wearable glasses using UPI Lite, along with foreign exchange services on Bharat Connect.