RBI launches UPI Tap and Pay without internet or UPI app for payments up to Rs 5,000
- India's RBI Governor Sanjay Malhotra announced UPI Tap and Pay on 10 September, working without a UPI app or internet.
- Users can tap NFC phones at POS machines, needing no PIN for payments up to Rs 5,000.
- RBI also launched MyUPI, an AI platform offering safety switches and transaction support.
- UPI makes up 89% of digital transactions, with biometric logins crossing 6.29 billion.
Source: news18.com
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