RBI Digital Payments Initiatives

AI-based UPI HELP

• Purpose: Provides assistance for payments, mandates, and dispute resolution.
• Features:
  • AI-powered support system for checking transaction status, raising complaints, managing mandates.
  • Enhances customer trust by making digital payments secure and easy to access.

IoT Payments with UPI

• Purpose: Enables transactions directly from connected devices.
• Supported Devices: Cars, smart TVs, smart glasses, wearables.
• Functionality:
  • Payments can be initiated using contextual triggers, routines, voice, or text commands.
  • Works across devices or cloud environments within user-defined limits.
  • Ideal for instant payments for fuel, EV charging, and other services.
• Impact: Makes transactions faster, smarter, and frictionless.

Banking Connect

• Purpose: Interoperable net banking solution for smooth payments.
• Features:
  • Enables seamless transactions across banks and payment aggregators.
  • Standardizes merchant onboarding and simplifies digital payment integration.

UPI Reserve Pay

• Purpose: Provides secure control over credit limits for specific purposes.
• Features:
  • Users can block and manage portions of credit limits across merchants and UPI apps.
  • Facilitates repeat purchases and budgeted spending.