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🚀 IoT for UPI
At the Global Fintech Festival 2025, RBI launched IoT-enabled UPI payments, letting connected devices act as payment agents.
Cars, wearables, TVs, and smart appliances can now trigger contextual, automated transactions—like an EV paying for charging, a car clearing tolls, or a fridge reordering groceries—while still requiring user authorization.
🔐 Security
- Biometric UPI: Fingerprint/face ID for approvals
- No Debit Card Needed: Set UPI PIN without a card
💡 Impact
- Invisible Payments: Seamless, background transactions
- Smart Cities: Boost for EVs, tolls, parking
- Inclusion: Easier onboarding for new users
- Global First: India leads in IoT + real-time payments
📊 Scenarios
| Device | Use Case | Advantage |
|--------|----------|-----------|
| 🚗 Car | Fuel/tolls/EV | Auto-pay |
| 🕶️ Glasses | Transit | Voice/tap |
| 📺 TV | Subscriptions | Auto-renew |
| 🏠 Fridge | Groceries | Auto-order |
Also launched: Banking Connect, UPI Reserve Pay, AI-based UPI Help.
BY Tech Office : Updates & Tech News ~1
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