From biometric verification & multi-signatory payments to smart glasses: What’s new in UPI

Mumbai: The Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) have unveiled a series of innovations to strengthen India’s digital payments and fintech ecosystem, marking the next phase of growth for the Unified Payments Interface (UPI).

Announcing these at the Global Fintech Fest (GFF) 2025, RBI Governor Sanjay Malhotra highlighted the conceptualisation of a Unified Market Interface (UMI) to standardise customer onboarding and digital transactions. The central bank is also developing a Unified Lending Interface (ULI) to help lenders leverage data for alternative credit models, similar to UPI’s impact in payments.

Malhotra urged fintechs to prioritise accessibility, inclusivity, and security, especially for senior citizens, differently-abled individuals, and those with limited digital literacy. He also emphasised data protection, transparency, and AI-driven innovation as key to building next-generation Digital Public Infrastructure (DPI).

New features in UPI

On-device biometric authentication: Users can now authenticate UPI payments using smartphone fingerprint or face unlock, eliminating the need for a UPI PIN.

Aadhaar-based face authentication: Enables Aadhaar-linked biometric verification for setting or resetting UPI PINs.

UPI Cash Withdrawal via Micro ATMs: Users can withdraw cash at UPI Cash Points run by business correspondents.

UPI on wearable smart glasses

• UPI Lite on smart glasses enables small-value, hands-free payments using QR scans and voice commands, with no phone or PIN required.
• Users can simply “Look. Speak. Pay.” for everyday transactions such as retail, food, and transit.
• This marks UPI’s entry into the wearable ecosystem, representing a step towards ambient, frictionless payments for India’s on-the-go consumers.

UPI Multi-Signatory: UPI Multi-Signatory allows joint or multi-signatory accounts, including corporates, MSMEs, startups, and trusts, to make approval-based payments like vendor settlements and reimbursements. It is fully interoperable across UPI apps.

Forex via Bharat Connect: Bharat Connect linked with FX-Retail platform enables individuals to buy US dollars directly through apps. Users can purchase currency notes, forex card loads, or outward remittances. The pilot currently includes Axis Bank, Federal Bank, ICICI Bank, State Bank of India, and Yes Bank, with access via platforms like CRED and Mobikwik.