The National Payments Corporation of India (NPCI) has announced a game-changer in the world of digital payments – the introduction of the Unified Payments Interface (UPI)’s ‘Tap & Pay’ functionality. This method is set to enrich the transaction experience for users of BHIM, Gpay, Paytm, PhonePe, and other UPI-enabled apps.
Key Points:
‘Tap & Pay’: A new UPI payment mode, introduced by NPCI, set to enhance UPI transactions.
NFC Compatibility: Requires NFC capability in the user’s device for ‘Tap & Pay’ functionality.
Default Activation: Enabled by default for users without an option to manually disable, akin to other UPI modes like Scan and Pay.
Transaction Limits: The existing UPI transaction limits apply to ‘Tap & Pay’ transactions.
Features:
NFC-Driven Transaction: Involves tapping the payer’s device against NFC-enabled receivers to retrieve UPI ID/VPA.
Activation and Limits: By default, no manual deactivation option, and adheres to standard UPI transaction limits.
Compatibility: Requires NFC-capable devices for seamless ‘Tap & Pay‘ transactions.
Transaction Security: PIN confirmation for transactions above ₹500 or without UPI LITE enabled.
Step-by-Step Guide for ‘Tap & Pay’ Usage:
Open UPI App: Launch the UPI application supporting ‘Tap & Pay’ (e.g., BHIM, Paytm).
Select ‘Tap & Pay’: Locate and tap on the ‘Tap & Pay’ icon within the app.
Enter Amount: Input the transaction amount.
Tap Devices: Bring the NFC-equipped device close to the receiver’s device and tap. Enter PIN if prompted.
Transaction Confirmation: Upon successful completion, receive a transaction success confirmation on-screen.
This ‘Tap & Pay’ feature heralds a new era in UPI transactions, offering a simple, secure, and efficient payment method using NFC technology.
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