| Aspect | Details |
|---|---|
| Event | Launch of biometric and wearable glass-based authentication for UPI |
| Organizations | National Payments Corporation of India (NPCI), Reserve Bank of India (RBI) |
| Venue | Global Fintech Fest 2025, Mumbai |
| Key Features | - Biometric Authentication: Fingerprint or facial recognition via Aadhaar - Wearable Glass Payments: Hands-free transactions using smart glasses and voice commands - Multi-Signatory Accounts: Approval needed from multiple signatories for joint accounts |
| Security Enhancements | - Authentication on-device, reducing data breach risks - Advanced cryptographic verification by issuing banks - Biometric verification for UPI PIN reset and ATM cash withdrawals |
| Target Audience | Senior citizens, rural populations, first-time digital payment users |
| Benefits | Enhanced security, ease of use, financial inclusion, faster transactions |
| RBI's Role | Approved alternative authentication methods to replace traditional PINs |
| Global Significance | Positions UPI as a global leader in digital payment innovations |
| Technology Utilized | Integration with Aadhaar biometric infrastructure |
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