UPI New Features: Soon You Will Be Able To Make Payments With No Money In Bank Account; Here's How

The Reserve Bank of India (RBI) introduced some new Unified Payment Interface (UPI) features, developed by the National Payments Corporation of India (NPCI), which includes Credit Line on UPI, UPI Lite X, Tap & Pay, and Hello! UPI, and BillPay Connect.

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In the Credit Line feature, which would be pre-sanctioned from the banks via UPI for customers, one would be able to make payments via UPI without having money in their bank accounts. However, only select banks and apps are offering this option.

The UPI Lite X is designed for offline payments and serves as an enhancement of the previously introduced UPI Lite feature from the previous year. To utilize this feature, ensure that your device is equipped with Near Field Communication (NFC) capability, allowing you to conduct offline money transfers and transactions.

UPI Tap and Pay aims to promote the utilization of QR codes and NFC technology. This feature would enable customers to make payments at merchant locations by simply using NFC-enabled QR codes.

The Hello UPI feature will empower users to conduct payments during conversations, allowing them to initiate payments through UPI applications and phone calls. Currently, this feature is accessible in Hindi and English, with plans to expand to other regional languages in the near future. Users would be able to make transaction and transfer money using their voices, effortlessly.

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Bharat BillPay, a subsidiary of NPCI, has unveiled BillPay Connect. This feature enables users to settle their bills by sending a simple message in chat conversations. Additionally, individuals without smartphones or mobile data can conveniently pay their bills through a missed call.