This information is beneficial for UPI users like you. Shaktikanta Das, governor of the Reserve Bank of India (RBI), showcased the National Payments Corporation of India (NPCI) goods at the Global Fintech Festival. ‘Hello UPI’, a product, was unveiled during this time. Through applications, phone calls, and IoT (Internet of Things) devices, UPI payments can be done in Hindi and English via speech.
Soon, UPI ATM facilities in additional regional languages will be accessible
The consumer will have the ability to obtain pre-approved loans from banks via the ‘Credit Line’ service on the Unified Payments Interface, according to NPCI. In addition, the user will be able to conduct offline rupee transactions utilizing another software called “Lite X.” It will soon also be made available in other regional languages. According to NPCI, clients will be able to access pre-approved credit from banks over the Unified Payments Interface thanks to the Credit Line on Unified Payments Interface tool.
Will have offline money transfer and receipt capabilities
LITE X will enable users to transmit and receive money offline. Customers will be able to tap Near Field Communication (NFC) enabled QR codes at merchant locations in addition to the scan-and-pay system thanks to the UPI Tap & Pay functionality. Additionally, UPI can be used to withdraw cash. Additionally, a Unified Payments Interface ATM has arrived. The first UPI ATM in the nation will let you make cash withdrawals. At the Global Fintech Fest, the UPI ATM Withdrawal Machine made its debut.
Read more: ITR: CBDT provided a significant update for millions of taxpayers
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