• Source:JND
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National Payments Corporation of India, the UPI regulator of India, is going to introduce a new feature to ease banking for UPI users. This said feature will let users save their preferred UPI IDs on merchant websites. This is to streamline the transaction process, as currently buyers need to select their preferred UPI app and the associated bank account every time they check out from these websites. This new feature aims to bring UPI payments to the same level as card payments.

The RBI currently allows payment gateways to use tokenisation for storing card details securely on merchant sites. This way, users can complete online payments with just an OTP. Similarly, NPCI will require RBI’s approval to let users save their UPI IDs on merchant platforms.

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Once this feature is enabled, users will no longer need to put in their UPI ID or select their UPI app and bank account every time they checkout.

This move aims to make the transaction process smoother, but it comes with its own set of concerns. It might disproportionately benefit a few third-party UPI apps like PhonePe and Google Pay, which currently cater to 80 per cent of UPI transactions.

What Is UPI Meta?


With this move NPCI plans to introduce a concept known as UPI Meta. While the initiative hasn’t been officially launched or formalised as a standard protocol yet, NPCI officials have already begun discussions with industry leaders to explore its potential uses and impact.

This early engagement signals a strategic step toward strengthening the UPI ecosystem.

On April 12, the National Payments Corporation of India (NPCI) observed a spike in traffic from some banks making use of the "Check Transaction" API. This unexpected surge temporarily affected system performance and led to a dip in payment success rates for several hours.

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