RBI and DFS launched new UPI digital payment features at Global Fintech Fest 2025.
UPI Multi-Signatory enables payments from joint accounts with multi-user approvals.
Hands-free UPI Lite allows QR-based payments via smart glasses and voice commands.
On-device biometrics and Aadhaar-based face authentication enhance security and accessibility.
UPI-enabled cash withdrawals at Micro ATMs make transactions faster and more inclusive.
The Reserve Bank of India and Department of Financial Services launched new digital payment features at the Global Fintech Fest 2025 with an aim to make transactions simple, secure convenient and accessible.
The newly launched features are UPI Multi-Signatory, hands-free transactions through UPI Lite, on-device biometrics, Aadhaar-based face authentication and cash withdrawal through Micro ATMs. Known as the "world's largest fintech festival", the sixth edition of the fest is being held at the Jio World Centre at BKC from Oct. 7-9.
Prime Minister Narendra Modi and UK Prime Minister Keir Starmer are among the notable personalities who attended the event.
What’s the UPI Multi-Signatory Feature ?
Aimed to simplify payments from joint or multi-approval accounts, the UPI Multi-Signatory feature was introduced by RBI Deputy Governor T. Rabi Sankar.
Following this update, transactions can be executed only after approval from all required signatories. Each of the account holder can use any UPI app linked to the account, thereby making the process faster, simpler, and more efficient, NDTV reported.
Make Small-Value UPI Payments Through Smart Glasses
In another significant update, UPI Lite users can now make hands-free, low-value payments through smart glasses. This can be done just by scanning a QR code and using a voice command. This feature allows transactions without a phone or PIN, thereby leading to payments being faster and more convenient.
Additionally, UPI Lite which was designed for low-value and high-frequency payments, ensures high success rates with minimal reliance on banking systems.
According to a NDTV Profit report, the National Payments Corporation of India (NPCI), the operator of UPI and other retail payment systems, showcased the feature with a demo video highlighting the simple process: “Look. Speak. Pay.”
On-Device Biometric Authentication For Quicker, Safer Payments
In addition to hands-free payments and multi-signatory feature, NPCI has also introduced on-device biometric authentication for UPI payments. Through the help of this feature, users are allowed to authenticate transactions using their device’s built-in biometric sensors instead of a PIN, a system in place since UPI’s inception in 2016.
This new method can also be used to set or reset UPI PINs and for cash withdrawals at ATMs through UPI, thus making digital payments quicker and more secure by eliminating the need for repeated PIN entries
What is the Aadhaar-Based Face Authentication System?
From now, setting or resetting UPI PINs within UPI apps can be directly done through Aadhaar-based Face Authentication. This feature replaces the need for debit card or OTP-based verification, thereby making onboarding faster, easier and more inclusive, especially for first-time users and senior citizens. In addition to that, it enables facial verification without the need for OTPs or card details.
Cash Withdrawals Made Easier Through UPI
Another notable development was the introduction of UPI-based cash withdrawals at Micro ATMs located at UPI cash points. The feature allows simple and quick cash withdrawal using UPI, making it more inclusive as well as convenient.
From now, customers can simply scan the displayed QR code by the business correspondent (BC) and confirm the transaction through their UPI app. This offers a convenient alternative to Aadhaar-based AePS as well as card-based withdrawal.
