Archive · 16 Aug 2025
UPI Eyes IoT-Ready System for Automated Payments
Imagine UPI, which lets you send and receive money, getting a big upgrade.
Soon, you might pay for things with your smart TV, watch, or even your car!
UPI is building a new system (UPI 3.0) that will let your smart devices pay for things automatically.
It works using features that let you set up recurring payments and share access.
They hope to launch it in October 2025.
This will be great for quick and easy payments, but they have to make sure it's secure and follows the rules.
UPI is developing an IoT-ready system (UPI 3.0) for automated payments from smart devices.
This will allow payments from devices like TVs, smart watches, and cars, not just phones.
UPI 3.0 will leverage UPI Autopay and UPI Circle features for automated transactions.
The official launch is expected at the Global Fintech Fest in October 2025, pending approval.
Concerns exist regarding regulatory hurdles, data security, and preventing unauthorized transactions.
- Who
- The National Payments Corporation of India (NPCI), consumers, and merchants.
- What
- Development of an IoT-enabled UPI system (UPI 3.0) for automated payments from smart devices.
- When
- Expected launch at the Global Fintech Fest in October 2025 (pending regulatory approvals).
- Where
- India
- Why
- To facilitate easier and more convenient automated payments via smart devices.
NPCI/Regulators
Consumers/Businesses
Balancing Innovation with Regulation
NPCI/Regulators
Prioritizes data security, privacy and regulatory compliance.
Consumers/Businesses
Could result in slower innovation due to regulatory hurdles.
- System Name
- UPI 3.0
- Focus
- IoT-enabled automated payments
- Technology Used
- UPI Autopay and UPI Circle
- Potential Devices
- Smart TVs, watches, cars, etc.
- Anticipated Launch
- Global Fintech Fest, October 2025 (pending approvals)
