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Smart devices to be next bastion for UPI with IoT-ready payment system
Ajinkya Kawale Mumbai
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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
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