The Reserve Bank of India unveiled UPI Tap‑and‑Pay and the AI‑driven MyUPI platform at Global Fintech Fest 2026, aiming to speed up in‑store payments and enhance user support, fraud control, and dispute resolution.

  • Launch of UPI Tap‑and‑Pay for NFC‑enabled phones at POS terminals
  • MyUPI AI‑powered assistance platform improves safety and dispute handling
  • Offline payments possible; transactions up to ₹5,000 require no PIN

What Is UPI Tap‑and‑Pay?

RBI Governor Sanjay Malhotra announced at the Mumbai‑hosted Global Fintech Fest 2026 that users can now make UPI payments by simply unlocking their NFC‑enabled smartphone and tapping it on a compatible POS terminal. The transaction does not need mobile internet; it uses the POS’s internet connection, making in‑store payments faster and more seamless.

MyUPI: AI‑Powered Customer Support

Built on NPCI’s Small Language Model FiMI, MyUPI offers a single dashboard view of all UPI transactions, AutoPay mandates, and cross‑bank details. Features such as the Safety Switch, UPI Number Delink, and Payee Context‑based Information give users greater control and visibility, helping to curb fraud and improve dispute resolution.

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Why This Matters

BozokMedia analysis shows that the integration of NFC‑based tap‑and‑pay with AI‑driven support marks a pivotal shift toward a frictionless, secure digital economy, positioning India as a global leader in payment innovation.

“AI‑powered UPI assistance will redefine consumer trust and operational efficiency in the payments ecosystem.”
Did You Know?: The combined volume of biometric‑authenticated UPI transactions crossed 6.29 billion by August 2026.

Frequently Asked Questions

How does UPI Tap‑and‑Pay work? By unlocking an NFC‑enabled phone and tapping it on a compatible POS, the payment is processed using the terminal’s internet connection, even if the phone lacks connectivity.

What AI services does MyUPI provide? It delivers a unified transaction view, safety switches, mobile number delink, real‑time chargeback creation, and 24×7 multilingual self‑service support, empowering users with more control and faster issue resolution.