Tap it and Pay it! Introducing UPI Tap & Pay – The Next Level of Digital Transactions

In an exciting development for digital payment enthusiasts, the National Payments Corporation of India (NPCI) is all set to launch the UPI Tap and Pay feature by the end of January 2024. This innovative feature, which was announced by RBI Governor Shaktikanta Das during the Global Fintech Fest in September 2023, is poised to enhance the convenience of making payments on the go.

How Does UPI Tap and Pay Work?

The core technology behind UPI Tap and Pay is Near Field Communication (NFC), which enables users to execute payments without the need to scan a QR code. NFC technology facilitates a secure connection within a short distance of 4 cm, making it a highly suitable and secure method for conducting UPI transactions.

Transaction Limits and Security

UPI Tap and Pay introduces a transaction limit of Rs 500 per transaction, with a daily cap of Rs 4,000. For transactions under Rs 500, users can simply tap their phone against a UPI Smart Tag or QR and proceed without entering a UPI PIN. However, for amounts exceeding this limit, the user is required to input their UPI PIN post-tapping their device, ensuring an added layer of security.

How to Use It

Using UPI Tap and Pay is straightforward:

  1. Open a compatible UPI app.
  2. Look for the Tap and Pay feature.
  3. Enter the transaction amount.
  4. Tap your mobile phone on the UPI Smart NFC QR or Tag.
  5. Confirm the transaction.

Availability

As of the latest updates, the feature is available on the NPCI’s BHIM app and Paytm, though it’s currently live for a limited number of Paytm users. Other UPI apps are expected to introduce this feature according to their discretion, with NPCI closely monitoring the rollout.

Impact and Future Prospects

The introduction of UPI Tap and Pay marks a significant step forward in the digital payments landscape. It not only promises to simplify transactions but also aims to enhance security and speed, making digital payments more accessible and convenient for a broader user base.

As we await the full-scale deployment of this feature, it’s clear that UPI Tap and Pay is set to become a game-changer in the way we conduct digital transactions.

Share:

MORE STORIES

## Navigating the AI Revolution: 5 Trending Google Ads Topics for Marketers As Google Ads continues its rapid evolution, staying ahead of the curve is paramount for digital marketers. The platform’s increasing reliance on artificial intelligence, shifting privacy landscapes, and the introduction of new campaign types are creating a fresh set of challenges and opportunities. Here are five top trending blog topics that delve into the most critical areas of Google Ads today. ### 1. The Rise of the Machines: Mastering AI-Powered Campaign Types Google is unequivocally betting on AI to drive the future of its advertising platform. A key area of focus for marketers is understanding and mastering AI-driven campaign types like Performance Max and Demand Gen. These campaigns automate targeting, bidding, and ad creation across Google’s entire inventory. A deep dive into strategies for providing the right inputs to these “black box” models, interpreting their performance, and understanding how to guide the AI for optimal results is a crucial topic for advertisers looking to succeed in this new era. ### 2. Beyond the Click: Navigating the New Landscape of Measurement and Attribution With the impending deprecation of third-party cookies and a growing emphasis on user privacy, the way advertisers measure success is undergoing a fundamental shift. This has propelled topics like enhanced conversions, consent mode, and the integration of first-party data to the forefront. Marketers are actively seeking guidance on how to implement these privacy-centric measurement solutions to gain a more accurate and holistic view of their campaign performance in a world without granular user tracking. ### 3. Creative is the New Targeting: Leveraging AI for Compelling Ad Experiences In an automated world, the creative has become a key differentiator. Google is investing heavily in AI-powered tools that can generate and optimize ad copy, images, and videos. Blog posts that explore how to effectively use these generative AI features to create a high volume of diverse and engaging ad creatives are gaining significant traction. This includes best practices for providing creative inputs, A/B testing AI-generated assets, and ensuring brand consistency across automated campaigns. ### 4. The Evolution of Search: Adapting to a More Conversational and Visual SERP The traditional keyword-based search is evolving. Users are increasingly employing longer, more conversational queries, and Google is responding with a more visual and AI-driven search engine results page (SERP). This shift requires a re-evaluation of traditional keyword research and bidding strategies. Trending discussions revolve around how to adapt to this new reality, including the role of broad match keywords, the importance of high-quality creative in visual search formats, and strategies for capturing intent in a more conversational search landscape. ### 5. Future-Proofing Your Strategy: The Growing Importance of a Full-Funnel Approach As automation takes over many of the manual levers within Google Ads, the focus is shifting towards a more strategic, full-funnel marketing approach. Advertisers are looking for insights on how to effectively use different Google Ads campaign types to guide users through the entire customer journey, from initial awareness to final conversion and retention. This includes discussions on how to structure campaigns to complement each other, allocate budgets across the funnel, and measure the impact of upper-funnel activities on bottom-line results.

Google Ads is in the midst of a quiet revolution—one driven by artificial intelligence, privacy-first regulations, and a rapidly changing search landscape. For digital marketers,

Send Us A Message