When will UPI’s ‘Tap & Pay’ go live? Here’s what NPCI said

Unified Payments Interface (UPI) members can go live with UPI’s ‘Tap & Pay’ functionality by January 31 next year, the National Payments Corporation of India (NPCI) has stated in a circular.

Representational Image
Representational Image

The January 31 timeline, however, is not a ‘deadline’ for members to go live with the facility.

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“Payment players can roll out the UPI Tap & Pay feature on their apps at any time. The date mentioned in the circular is just a recommendation, and it will be desirable to see firms launching the service by that date,” Business Standard quoted a person close to NPCI as saying.

What is UPI’s ‘Tap and Pay’?

It was announced by Reserve Bank of India (RBI) Governor Shakitkanta Das at the fourth edition of the Global Fintech Fest, held in Mumbai from September 5-7. NPCI describes the facility as a ‘novel way to make your UPI transactions, keeping things easy, safe, and instant.’

(1.) Here, instead of the camera, non-field communication (NFC) technology captures a payee’s UPI ID or a Virtual Payment Address (VPA).

(2.) It can be accessed only on phones or devices that have NFC capability.

(3.) To make the payment, one must look for the ‘Tap & Pay’ button on their UPI app; the transaction will be completed on tapping the device on the UPI Smart Tag/Smart QR.

(4.) Transactions of up to and including 500 will be done through UPI LITE, and those exceeding 500, via the UPI PIN.

(5.) The feature is available for both Android and iOS, and is currently live on two apps: BHIM and Paytm (only for limited users).

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