RBI launches new digital payment tools: How it works
The Reserve Bank of India (RBI) recently rolled out four fresh digital payment tools at the Global Fintech Fest.
The highlights include AI-based UPI HELP for instant payment support, IoT Payments with UPI so devices can handle transactions directly, Banking Connect for better foreign exchange rates, and UPI Reserve Pay—all designed to make your money moves smoother and safer.
AI-based UPI help
RBI introduced AI-based UPI HELP for instant payment support, enhancing user experience by providing quick resolutions to transaction issues.
IoT payments with UPI
IoT Payments allows devices to handle transactions directly, paving the way for seamless integration of smart technology in financial operations.
Banking Connect
Need to swap currencies? Banking Connect lets you access competitive forex rates right inside your favorite banking apps—making international transactions less of a headache.
Other notable updates include UPI Reserve Pay
UPI Reserve Pay is another innovative tool that was launched to enhance the security and efficiency of digital payments in India.
These updates put India even further ahead in digital finance innovation.