Mumbai, Oct 7
Reserve Bank of India Deputy Governor T. Rabi Sankar on Tuesday announced the launch of three key digital payment innovations-- UPI Multi-Signatory, Small Value Transactions using wearable glasses via UPI Lite, and forex on Bharat Connect -- at the Global Fintech Fest (GFF) 2025.
The Small Value Transactions using Wearable Glasses via UPI Lite will allow users to complete hands-free and secure transactions by simply scanning a QR, authenticate and complete payments through voice on Smart Glasses, without needing a phone or entering a PIN.
The product, launched by NPCI Bharat BillPay Ltd. (NBBL) in collaboration with the Clearing Corporation of India Limited (CCIL) and under the guidance of the Reserve Bank of India (RBI), ensures transparent pricing with real-time, competitive rates sourced from the CCIL-managed FX-Retail platform.