NPCI Announces UPI ‘Tap & Pay’ Functionality Launch by January 31, 2024
New Delhi, Dec 28 (WD):
The National Payments Corporation of India (NPCI) is set to launch the UPI ‘Tap & Pay’ functionality by January 31, 2024, benefiting users of various UPI apps like BHIM, Gpay, Paytm, and PhonePe.
Introduced in September 2023, UPI Tap & Pay adds a new layer to payments, allowing users to tap devices on the recipient’s device via NFC technology to retrieve UPI ID/VPA. This feature is subject to existing UPI limits.
For Tap & Pay to work, the customer’s device must have NFC capability. The recipient’s UPI ID/VPA is stored in NFC tags within QR codes, soundboxes, or UPI Smart Tags.
Transactions require internet connectivity, and the Tap & Pay mode is automatically enabled for customers, similar to Scan and Pay or Pay to Contacts. Transactions under ₹500 with UPI LITE enabled don’t require a PIN, while others need a simple PIN verification.
BHIM and Paytm are the primary apps currently offering the Tap & Pay feature. Users can follow a step-by-step guide, including opening the UPI app, selecting ‘Tap & Pay,’ entering the amount, tapping devices, and receiving a transaction success message upon completion.
