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Smart Devices to Be Next Bastion for UPI
Business Standard
|July 08, 2025
NPCI builds Internet of Things rails as UPI targets 10x growth
India's real-time payments system, the Unified Payments Interface (UPI), is getting a smart upgrade.
The National Payments Corporation of India (NPCI) is developing an Internet of Things (IoT)-ready version of UPI that will allow automated payments through smart appliances, wearables, connected vehicles, and more, according to two sources in the know.
With this upgrade, smart devices—like refrigerators, washing machines, connected cars, and even smartwatches—could initiate UPI payments on their own. Think of parking fees paid directly from your car, metro tickets via a wearable, or a subscription renewed automatically through your smart TV—all without opening a banking or third-party UPI app.
What sets the new system apart is its ability to transact across gadgets. Currently, all UPI transactions must be executed through a mobile phone.
The upcoming feature will allow devices to process payments using a separate virtual payment address tied to the user's primary UPI ID. This opens the door for embedded transactions on smart devices, powered by delegated payments via UPI Circle.
This story is from the July 08, 2025 edition of Business Standard.
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