Tap & Pay transactions can run over the POS terminal's internet connection instead of the user's mobile data.
Affects:UPIdetails below ↓
RBI Governor Sanjay Malhotra launched UPI 'Tap & Pay' on point-of-sale terminals at Global Fintech Fest 2026. The feature lets users pay by unlocking an NFC-enabled smartphone and tapping it on an NFC-enabled POS terminal.
Tap & Pay payments of up to ₹5,000 do not require a UPI PIN.
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Directions issued by the Reserve Bank of India on 21 April 2026 (RBI/CO.DPSS.POLC.No.S56/02.14.003/2026-27), effective immediately. They consolidate the RBI's circulars on e-mandates and apply to all payment system providers and participants processing recurring transactions, domestic or cross-border, using cards, PPIs or UPI. Recurring transactions may be authorised without an additional factor of authentication (AFA) up to ₹15,000 per transaction, or ₹1,00,000 for insurance premiums, mutual fund subscriptions and credit card bill payments; issuers must send a pre-transaction notification at least 24 hours before the debit (not required for e-mandates that auto-replenish FASTag and NCMC balances). The Directions repeal the earlier circulars, including the circular of 10 January 2020 on e-mandates in UPI.
Payment infrastructure analysis, migration updates, and regulatory changes.