UPI new features announced at the Global Fintech Fest 2026 are set to make digital payments more convenient, secure and accessible. The latest additions include UPI Tap & Pay, which enables contactless payments at point-of-sale (PoS) terminals, and MyUPI, a unified platform for viewing UPI transactions and accessing payment-related services.
Key Highlights
- UPI new features include tap-to-pay at PoS terminals and MyUPI, a unified window for tracking transactions.
- Bharat Connect expands forex services with multicurrency support covering euros, pounds, francs, dollars and dirhams.
The new capabilities were unveiled by Reserve Bank of India (RBI) Governor Sanjay Malhotra on September 10. NPCI has also introduced AI-powered customer support through its Finance Model for India (FiMI), while Bharat Connect has expanded its forex offering with multicurrency capabilities.
UPI Tap-to-Pay: How Will It Work?
The new UPI Tap & Pay facility allows users to make payments at compatible PoS terminals by tapping their smartphones, bringing a contactless payment experience similar to card transactions.
The feature uses near-field communication (NFC) technology and can support UPI accounts as well as RuPay credit cards linked to UPI. It is also designed to work without mobile network connectivity in supported scenarios.
According to NPCI, users can make PIN-less transactions of up to Rs 5,000 through the facility. Transactions above Rs 5,000 require the user to enter the UPI PIN on the PoS terminal.
The feature could simplify payments at retail outlets by eliminating the need to open a UPI application and scan a QR code for every transaction.
MyUPI Offers Unified Transaction Details
Another major addition among the UPI new features is MyUPI, which provides users with a single view of their UPI transactions and AutoPay mandates across banks and UPI applications.
The platform also introduces User Controls designed to give customers greater control over their payments.
One such feature is a Safety Switch, which allows users to decline UPI debit transactions if they suspect their account or payment credentials have been compromised.
MyUPI also allows users to delink their mobile number from receiving UPI payments and provides contextual information when making payments to merchants.
The platform additionally supports automated chargeback processing, enabling eligible transactions to have chargebacks created in real time.
UPI Gets AI-Powered Customer Support
The latest UPI expansion also includes AI-based customer support powered by FiMI, or Finance Model for India.
NPCI developed FiMI as a domain-specific language model for India's payments ecosystem. It currently powers the UPI Help Assistant, supporting areas such as transaction disputes, mandate management and payment-related queries.
The move indicates how artificial intelligence is increasingly being integrated into India's digital payments infrastructure, with the focus shifting towards conversational and personalised customer support.
Bharat Connect Adds Multicurrency Forex Services
The latest developments extend beyond UPI transactions. RBI Deputy Governor Rohit Jain announced multicurrency capabilities for the forex category on Bharat Connect under a controlled user group (CUG) launch.
The initiative is intended to expand the existing forex offering beyond the US dollar and provide customers with access to a wider range of foreign-exchange services through a single platform.
Following the assessment of the CUG phase, NPCI plans to extend the offering across more Bharat Connect channels and participating banks.
The expanded forex offering will support Euro, British Pound, Canadian Dollar, Swiss Franc and UAE Dirham, in addition to the existing US dollar proposition.
Also Read: UPI Transaction Volume Hits Record 24.51 Billion in August: NPCI Data
UPI Continues to Expand Its Digital Payment Ecosystem
The latest UPI new features come as India's digital payments ecosystem continues to expand rapidly. NPCI data shows that UPI processed 24.51 billion transactions worth Rs 29.82 lakh crore in August 2026.
The addition of contactless payments, unified transaction management, AI-powered support and expanded forex capabilities could further broaden UPI's role in India's financial ecosystem.
With these developments, UPI is moving beyond its traditional scan-and-pay model towards a wider payments platform focused on contactless transactions, stronger user controls, AI-driven assistance and greater financial-service integration.
