look news india
UPI Payment- In the coming days, making payments through UPI is going to become even easier and safer. According to reports, the National Payments Corporation of India (NPCI) is in talks with companies to bring biometric feature on UPI payments.
NPCI is in talks with companies
If NPCI's talks with the companies are successful, payments will be made through UPI using the fingerprint sensor ID of Android phones. iPhone users will be able to use UPI payments through Face ID. However, this feature will be activated only if there is no security risk. The government is serious about fraud in UPI payments.
Cases of fraud are increasing in UPI payments
There are reports of many people falling prey to fraud in UPI payments. It is very easy to make payments through UPI using a special four or six-digit PIN. Experts say that the UPI system is safe but people fall prey to fraud. Instead of receiving money, they travel through money transfer. After the OLX scam, now a pop-up message appears on this platform, which alerts people about sending money.
Use of biometrics reduces fraud
NPCI believes that the use of face ID or biometrics for UPI payments can reduce fraud. Currently, apps including Google Pay, PhonePe, Amazon Pay, Paytm allow users to make payments through UPI or receive payments from other users. The Reserve Bank is constantly expanding the features related to UPI payments.
Increasing facilities on UPI
RBI has made a big announcement for UPI users on August 8. They said that now tax up to Rs 5 lakh can be paid through UPI. This will benefit businessmen a lot. First of all, it does not take much time to transfer money through UPI. Secondly, it is very easy to make payments through UPI.
