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UPI users can get the facility to make payment through face or fingerprint from tomorrow. NPCI, the agency operating UPI, has completed preparations for approving biometric features.
Reuters has given this information quoting sources. After the new features are approved, the requirement of PIN for making UPI payment will become optional.
Know complete details in questions and answers here…
Question 1: What is this biometric payment?
answer: In biometric payment, identification will be done through unique physical characteristics like fingerprint, face ID. It is more secure and easier than PIN or password, because it is difficult to copy. Like you can unlock your smartphone through fingerprint and Face ID.
Question 2: How will the new system work?
answer: When a user makes payment through UPI, instead of entering the PIN, his phone will have the option of facial recognition or fingerprint scan. He will be able to make UPI payment by using his thumb or face.
Question 3: How safe will the new features be?
answer: Biometric data for the new payment system will be taken directly from the Aadhaar system of the Government of India. This means that your data will be cross checked with the biometric information entered in the Aadhaar card to approve the payment. This method is considered safe because it is linked to Aadhaar.
Question 4: Why is biometric payment being introduced?
answer: Compared to PIN, biometric authentication has less risk of fraud. Experts believe that this will increase the use of digital payments very rapidly in rural areas, where smartphones are used but it is difficult to remember or type the PIN.
Question 5: When will the new features be launched?
answer: NPCI is planning to present this new biometric feature to the world at the ongoing Global Fintech Festival in Mumbai. It can be launched tomorrow on 8th October.
Question 6: Will this feature be available in all UPI apps?
answer: Yes, almost all UPI apps can support it. Initially this feature can be seen in big UPI apps like Google Pay, PhonePe, Paytm.
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Also read this news related to UPI…
Now you will be able to purchase up to ₹ 10 lakh daily through UPI: You will be able to buy jewelery worth ₹ 6 lakh; Earlier the daily limit between customer and merchant was ₹ 2 lakh.
UPI users will be able to make payments up to Rs 10 lakh in a day from today i.e. 15th September. National Payments Corporation of India (NPCI) has increased the daily limit for several categories of person-to-merchant (P2M) payments from Rs 2 lakh to Rs 10 lakh. Read full news
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