UPI transaction rules are changing, this is how you can make payments from October 8.

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This new feature will be rolled out from October 8th and will be based on biometric data stored in Aadhaar. This move is in line with recent RBI guidelines that allow alternative authentication.

UPI Payment: A major step has been taken towards making digital payments easier and more secure in the country. Now, users transacting through the Unified Payments Interface (UPI) will no longer need to enter a PIN for payments. Instead, they will be able to approve their transactions using facial recognition or fingerprint. This new feature will come into effect from October 8. This move is in line with recent RBI guidelines that allow alternative authentication.

What are the details?

NPCI (which operates UPI) is going to showcase this feature at the Global Fintech Festival in Mumbai. This will make digital payments faster, safer, and more convenient. According to a report in the Economic Times, this new feature will authenticate payments using biometric data stored in the Indian government’s Aadhaar system. This means that a user’s face or fingerprint will be matched with their Aadhaar data, allowing payments to proceed.

New RBI Guidelines

This move is in line with recent guidelines from the Reserve Bank of India (RBI), which allowed alternative authentication methods for digital transactions. This is expected to improve both security and user experience in digital payments.

UPI Experience Will Be Easier

Currently, users are required to enter a 4- or 6-digit PIN for every UPI transaction. Once the new feature is implemented, payments will be instantly authenticated using a face scan or fingerprint sensor. This will reduce transaction time, increase security, and make the user experience more seamless. Experts say that biometric authentication will reduce the likelihood of fraud, as face or fingerprints are difficult to copy by another person. However, strong technical protocols will be adopted between NPCI and UIDAI to ensure data security and privacy.

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