The Reserve Bank of India or RBI has issued new guidelines for the most popular payment system, UPI, in India. And these new guidelines are directly going to change the way we make payments via our favorite apps like Paytm, PhonePe, and Google Pay. According to a Reuters report, starting from October 8, all UPI users will be able to make the payments via fingerprint or face can on these apps.

This is definitely going to make the UPI payments more convenient in the country. As for the details, it is backed by Aadhaar data and will save time for people as well.

UPI Payments Without Entering PIN

The National Payments Corporation of India (NPCI) is set to introduce the feature in the ongoing Global Fintech Festival in Mumbai. This comes as a major revolution and would be a favourable feature for people who make multiple payments in a day and don’t want to enter the PIN every time.

Coming to the working, the Aadhaar-based biometric authentication is what will power the PIN-less UPI payment features. The users will have an option to authenticate a payment by scanning their fingerprint or using facial recognition when they trigger a payment on any UPI application. This happened right after RBI issued the guidelines for the usage of more methods apart from PIN to authenticate payments.

What’s more, the industry experts believe this step could curb the cases of online fraud as the biometric data of an individual is almost impossible to duplicate. From an end-user perspective, the feature is going to make UPI payments seamless, and you will not be supposed to enter the PIN all day long for every transaction.

Until now, no major payment application has announced the availability timeline for the feature. However, we can expect large players like Google Pay, PhonePe, and Paytm to adopt the feature once it makes an official debut. One thing that we are sure about is the new payment verification method is going to serve as a nightmare for scammers.