RBI Launches Conversational Payments on UPI: Users Can Now Pay with AI

New Delhi: The Reserve Bank of India governor Shaktikant Das in its latest statement announced the “Conversational Payments” on UPI, that will enable users to engage in conversation with AI. 

It has a major objective of harnessing new technologies for enhancing the digital payments experience for users, it is proposed to enable Conversational Payments on UPI, which will enable users to engage in conversation with AI-powered systems to make payments.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : R P Gupta terminated as SECI Chairman with immediate effect

It is also mentioned at the Monetary Policy Committee (MPC) meeting on Thursday that there will be the introduction of offline payments on UPI using Near Field Communication (NFC) technology through ‘UPI-Lite’ on-device wallet.

Read Also : Rajeev Kumar to hold charge of Non-Official Independent Director on Board of NBCC (India) Ltd

Also to enhance the transaction limit for small value digital payments in off-line mode from Rs 200 to Rs 500 within the overall limit of Rs 2000 per payment instrument. 

These initiatives will further deepen the reach and use of digital payments in the country.

Read Also : No Decisions to hold talks, MEA on India-Pakistan Ceasefire