Hello! UPI: NPCI launches voice-enabled transaction & new features on UPI

Now, you will be able to pay via Unified Payment Interfaceor UPI using your voice. The NPCI on Wednesday launched a slew of new payment options on popular payments platform UPI, including conversational transactions - Hello! UPI.

Along with Hello! UPI, NPCI has introduced new applications like Credit Line on UPI, UPI LITE X, and Tap & Pay.

Hello! UPI

In a press release NPCI mentioned that Hello!-UPI will allow users to make voice-enabled payment via UPI apps, telecom calls, and Internet of Things (IoT) devices. The user can simply speak to the AI-powered solutions to make a transaction.

It will be available through two modes — on-call (through a voice call) and in-app (through any UPI app), as per a partner whitepaper named 'Conversational Payments on UPI: Unlocking New Frontiers for Next-generation Payments' available on the NPCI website. The on-call feature will allow users to dial a number where the user will be greeted and guided through IVR to complete the payment process. The in-app facility will allow users to use their voice inputs on any UPI app to conduct a payment.

Credit Line on UPI

To expand access to credit, promote financial inclusion and innovation, NPCI has rolled out credit line on UPI.

This will enable pre-sanctioned credit lines from banks via UPI and will revolutionise customer access to credit, fostering a more streamlined and digital banking ecosystem, NPCI said.

The initiative has several key features, including linking pre-sanctioned credit lines, creation of digital credit products by banks, establishment of interest-free credit periods and corresponding interest rates, defined schedule of charges, customer engagement channels for credit sanction requests, and the ability to link various pre-sanctioned credit lines via UPI-enabled apps for transactions.

To ensure seamless interoperability, all UPI apps, including bank and third-party ones, will be empowered to discover and link credit lines on UPI.

UPI LITE X

Through this feature, users can send and receive money, while being offline, allowing users to execute transactions even in areas with poor connectivity.

UPI LITE X will be accessible to anyone with a compatible device that supports Near Field Communication (NFC), offering payments faster than other payment methods, as they require less time to process the transaction.

UPI Tap & Pay

In addition to the conventional scan-and-pay method, users will now have the option to simply tap NFC-enabled QR codes at merchant locations to complete their payments.