UPI 3.0 to let your fridge, TV make payments
UPI is about to get a big upgrade—NPCI is working on UPI 3.0, which brings Internet of Things (IoT) into the mix.
Soon, your smart fridge or TV could pay bills automatically, no need to pull out your phone each time.
The official announcement is expected at the Global Fintech Fest this October, if regulators give it the green light.
Autopay and UPI Circle will enable device payments
UPI 3.0 uses features like Autopay and UPI Circle to let devices make payments through secondary UPI IDs linked to your main account—think subscriptions or routine purchases happening in the background for you.
This move fits right in with India's push for smarter cities and smoother digital payments but also means new challenges around data safety and preventing unauthorized transactions.
With over 185 billion UPI transactions processed last year, this upgrade could make everyday spending even more effortless as automated payments catch on worldwide.