NPCI has launched UPI Tap & Pay and MyUPI at GFF 2026, as UPI recorded 24.51 billion transactions worth ₹29.82 lakh crore in August 2026. RBI Governor Sanjay Malhotra launched the products in the presence of Ajay Kumar Choudhary, NPCI’s non-executive chairman and independent director.
The two products address different parts of a payment system that averaged 791 million transactions and ₹96,205 crore a day in August. Tap & Pay adds NFC-based checkout at physical point-of-sale terminals, while MyUPI gives users a consolidated view of UPI transactions and AutoPay mandates across banks and UPI apps.
UPI Tap & Pay is designed for NFC-enabled smartphones and NFC-enabled point-of-sale terminals. A user can unlock a phone and tap it on a terminal to start a payment. The payment can use the terminal’s connectivity, so it does not require the user’s mobile internet connection.
Payments of up to Rs 5,000 do not require a UPI PIN. For payments above that limit, users enter the PIN on the point-of-sale terminal. The feature supports multiple UPI-linked account types, including RuPay Credit Card on UPI.
MyUPI is built on NPCI’s in-house small language model, FiMI. It also includes a Safety Switch that lets users request the declining of UPI debit transactions when they suspect a compromise, and a UPI Number Delink feature for removing a mobile number from receiving UPI payments.
NPCI operates India’s retail payments and settlement infrastructure. Incorporated on 19 December 2008 as an initiative of the Reserve Bank of India and the Indian Banks’ Association, it also operates RuPay, IMPS, FASTag, AePS, BHIM, BBPS and CTS.
The company announced the news in a post on X.
