Global Fintech Fest 2025: From Smart Glasses Payment To Aadhaar Face ID, Big UPI Updates Rolled Out

The Reserve Bank of India (RBI) and Department of Financial Services (DFS) launched new digital payment features at the Global Fintech Fest 2025 aimed at making transactions simple, secure and convenient as well as accessible.

The features that were launched are UPI Multi-Signatory, hands-free transactions through UPI Lite, on-device biometrics, Aadhaar-based face authentication and cash withdrawal through Micro ATMs.

The sixth edition of the Global Fintech Fest, billed as the "world's largest fintech festival", in being held at the Jio World Centre at BKC from Oct. 7-9.

Among the notable attendees are Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, besides policymakers, industry leaders and dignitaries from around the world.

RBI Deputy Governor T. Rabi Sankar introduced the UPI Multi-Signatory feature, enabling seamless payments from joint or multi-approval accounts.

With this update, transactions can be executed only after approval from all required signatories. Each account holder can use any UPI app linked to the account, making the process faster, simpler, and more efficient.

UPI Lite users can now make hands-free, low-value payments through smart glasses, just by scanning a QR code and using a voice command. The feature allows transactions without a phone or PIN, making payments faster and more convenient. Designed for low-value and high-frequency payments, UPI Lite ensures high success rates with minimal reliance on banking systems.

The National Payments Corporation of India (NPCI), the operator of UPI and other retail payment systems, showcased the feature with a demo video highlighting the simple process: “Look. Speak. Pay.”

NPCI introduced on-device biometric authentication for UPI payments. The feature allows users to authenticate transactions using their device’s built-in biometric sensors instead of a PIN, a system in place since UPI’s inception in 2016. The new method can also be used to set or reset UPI PINs and for cash withdrawals at ATMs through UPI, aimed at making digital payments quicker and more secure by eliminating the need for repeated PIN entries.

NPCI also introduced Aadhaar-based Face Authentication for setting or resetting UPI PINs directly within UPI apps. The feature replaces debit card or OTP-based verification, making onboarding faster, easier and more inclusive, especially for first-time users and senior citizens. Powered by UIDAI’s FaceRD app, it enables facial verification without the need for OTPs or card details.

M Nagaraju, secretary of the Department of Financial Services, introduced UPI-based cash withdrawals at Micro ATMs located at UPI cash points. This facilitates simple and quick cash withdrawal using UPI, making it more inclusive as well as convenient. Customers can now simply scan the displayed QR code by the business correspondent (BC) and confirm the transaction through their UPI app, offering a convenient alternative to Aadhaar-based AePS as well as card-based withdrawal.

FX Retail Platform has been integrated with Bharat Connect (BBPS), allowing retail customers to buy foreign currency directly from their preferred banking or payment apps on the platform.