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4 UPI Features Unveiled by the RBI Governor Developed by the National Payments Corporation of India (NPCI), the features include credit lines on UPI, UPI Lite X, Tap and Pay, and conversational payments.

By Paromita Gupta

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(L-R) Nandan Nilekani, co-founder and non-executive chairman, Infosys; Shaktikanta Das, RBI Governor, and Biswamohan Mahapatra, Chairman, National Payments Corporation of India

On Wednesday, the Reserve Bank of India Governor Shaktikanta Das announced new features for the Unified Payments Interface.

Developed by the National Payments Corporation of India (NPCI), the features include credit lines on UPI, UPI Lite X, Tap and Pay, and conversational payments. "We confident that the initiative that will be launched today by the honorable governor of RBI will help us to reach our goal of processing 100 billion transactions in a month," said Biswamohan Mahapatra, Chairman, National Payments Corporation of India.

Notably, last week, the NPCI confirmed that monthly UPI transaction volumes crossed 10 billion. Last year, Mahapatra shared that the aim was to touch 30 billion transactions a month; he now revised the number to 100 billion transactions a month.

A credit line on UPI will let banks provide pre-approved lines of loans to individuals through the payments platform. This will make the process easier for customers to get credit and make use of it. The product will include pre-sanctioned credit lines linkage, creation of the bank's digital credit products, interest-free credit periods and corresponding interest rates, and charges schedule.

"NPCI is the crown jewel of India's technology sector," shared Nandan Nilekani, co-founder and non-executive chairman, Infosys.


For smartphone UPI users, scan the QR code to make a purchase, select the bank, enter the amount and choose the credit line. Currently, it's available on BHIM, Paytm, Payzapp, and G Pay.

UPI Lite X

Feature phones get a new upgrade with UPI Lite X. With this, users can carry out peer-to-peer transactions with an active network or internet. By using 123Pay, you can simply state the person and amount to carry out the transaction. The actual money transfer happens as soon as either of the phones enters a network zone.

Tap and Pay

Know about Visa Contactless Payment? You can do the same with UPI Tap and Pay. To use this feature, one needs to get near-field communication (NFC) chips which will be linked to their UPI ID and QR code. To generate the chip, one needs to visit the nearest bank to find a contactless UPI card-generating kiosk. With this feature, you simply tap, enter the amount, and tap.

Conversational Payments

Conversations are integral to any relationship. With "Hello!UPI", a conversational payment mode, users can tap on the mic button and request payment process. The feature will convert text into numbers and text to speech. It will be applicable for the Hindi language as well. However, the user still will be required to enter the amount manually.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at 
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