NPCI Launches UPI Tap & Pay and the AI-Powered 'My UPI' Platform at Global Fintech Fest 2026

11 September 2026National

NPCI launched UPI Tap & Pay and the AI-powered My UPI platform on 10 September 2026 at the Global Fintech Fest 2026, unveiled by RBI Governor Sanjay Malhotra. Tap & Pay lets users tap an NFC-enabled phone on a point-of-sale terminal without opening a UPI app; it needs no mobile data because the transaction uses the terminal's connection, and carries a PIN-less limit of Rs 5,000. My UPI, built on NPCI's custom small language model FiMI (Finance Model for India), offers a unified dashboard of transactions and AutoPay mandates across banks plus a fraud 'safety switch'. Biometric-authenticated UPI transactions crossed 6.29 billion by 31 August 2026.

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NPCI was set up in 2008 as the umbrella organisation for retail payments in India, promoted by the RBI and the Indian Banks' Association | UPI was launched in April 2016; NPCI also operates RuPay, IMPS, NETC FASTag, BHIM and AePS | NPCI International Payments Limited (NIPL) was incorporated on 3 April 2020 for global deployment of UPI and RuPay

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