GFF, 2024 | Key Product launch & enhancements

NPCI
# product name type Details Live App
1 UPI Circle UPI Issuance – Add- UPI Circle is a feature enabling UPI user to act as a primary user linking with trusted BHIM,
(Delegate Payments) on feature secondary users on UPI App for either partial or full delegation of payments. In full Mobikwik
delegation, the primary user authorises a trusted secondary user to initiate and complete
UPI transactions as per defined spend limits. In partial delegation, the primary user
(limit – Rs 5,000 per txn) authorizes initiation of payment requests from secondary users. The primary user then
completes the UPI transaction with UPI Pin.

A primary user can delegate to up to 5 secondary users and a secondary user can accept
delegation from only one primary user. Full delegation allows a maximum monthly limit
of INR15,000 per delegation and a maximum per transaction limit of INR 5000. Existing
UPI limits shall be applicable in case of partial delegation.
2 UPI – ICD on ATM Interoperable Cash The introduction of UPI ICD allows customers to deposit cash at ATMs operated by APP: BHIM
Deposit Using UPI banks and white label ATM operators (WLAOs) using UPI to their own bank account or
(limit – Rs 49,000 per txn) at ATMs any other bank account without the need for a physical card. These ATMs are cash ATM: Canara
recycler machines which are used for both cash deposits and withdrawals. Leveraging Bank powered
their mobile numbers linked to UPI, virtual payment addresses (VPA) and account IFSCs, by Hitachi
customers can now do cash deposits, making the process more seamless, inclusive and
accessible. Consumers will be able to access these features as the banks gradually roll
them out.
3 Conversational Voice UPI 123 - NPCI, IRCTC, and CoRover launched Conversational Voice Payments powered by UPI IRCTC app
Payments powered by UPI enhancements and BharatGPT, a Sovereign AI at the Global Fintech Fest. With its integration with powered by
and BharatGPT, a Sovereign payment gateway, this innovative feature marks a major advancement in the ease and CoRover
AI accessibility of digital transactions. With the new conversational payments, customers
can now complete transactions by using their voice or typing their UPI ID or mobile
number. The system automatically retrieves the corresponding UPI ID and initiates a
payment request via the user's default UPI app when a mobile number is provided. To
ensure a seamless and flexible payment experience, the feature also gives consumers
the option to update their mobile number or UPI ID within the transaction time limit.

4 Auto Top-Up for UPI Lite UPI Autopay/ E- This feature will let Users of Instrument to do auto top up on UPI Lite and Prepaid ICICI Bank,
and Prepaid Instruments mandate new use Instruments (NCMC, Fastag) which means no more manual recharge on Wallet when Airtel PB
(NCMC, Fastag) case the amount goes low. Als

Note collated by Praveen

Bharat Connect (erstwhile BBPS)

Unveiled the new identity of Bharat BillPay as Bharat Connect —a significant step forward in creating a more connected and inclusive financial ecosystem
beyond bill payments.

# Product Name Type Details Live App

1 Bharat BillPay for B2B – payments BBPS services to cater to business enablement platforms, streamlining B2B payments Zoho,
Business (B2B and collections. Bharat BillPay for Business aims to standardise, simplify and automate Happpay,
Platforms) Enables business to make, and various invoice payment processes for day-to-day business operations irrespective of EnKAsh,
receive instant invoice size of the business. Offerings like business onboarding, search and add business, Easebuzz,
payments using BBPS B2B IDs, purchase order (PO) creation, invoice management, automated reminders, guaranteed
whether through UPI, NEFT, or settlement, financing, AR (Accounts Receivable) and AP (Accounts Payable) dashboard,
credit cards. and online dispute resolution are inbuilt in this platform.

Banks, Enterprise Resource Planning (ERPs) and B2B fintechs alike can now connect
with BBPS for Business and offer their clients a holistic solution. This solution will
empower businesses to seamlessly digitalise the existing manual processes, and
enhance the services offered by B2B players by on-boarding these businesses on a
comprehensive and interoperable digital invoice and payment solution.

2 BOAT Lifecycle management of Biller A seamless biller onboarding platform, revolutionizing the way billers are integrated
into our ecosystem. [Learn More](https://lnkd.in/dfSKC_w2).
3 BBPS QR Presenting Bills in form of QR Enhancing bill payment convenience with our QR solution. [Discover
More](https://lnkd.in/dr234Qf2)
4 Agent Locator Find Nearby Agent on BBPS Expanding digital payment through a robust agent network, bringing financial SM, Airtel PB
website basis Pincode for inclusion to more people. [Explore Here](https://lnkd.in/deBPQZQ9)
collection
5 NPS Category New Category Enabling pension contributions, making retirement planning easier and accessible.
[More Info](https://lnkd.in/d99bZsGR)
6 Prepaid Meter New Category Adding prepaid meter category to better serve a growing electricity user base. [Read Paytm
Category More](https://lnkd.in/duG9eY7B)
7 FASTag Recharge Using Mobile Enhancing FastTag recharge with our latest features in the category. [See
Enhancement Number, Chasis Number or VIN Details](https://lnkd.in/dFgSMa7

Note collated by Praveen

Reserve Bank Innovation Hub (RBIH)

# Product Name Type Details

1 Unified Lending Interface (ULI) Innovation to 🔍What is ULI?
usher credit
A digital infrastructure project conceptualised by RBI ULI is a platform that facilitates the seamless flow of a customers’ digitised
and developed by RBIH to revolutionise credit access by financial and non-financial data from multiple data service providers to lenders,
integrating various data services, significantly reducing making credit underwriting seamless and customer journeys frictionless for a
the turnaround time for loans diverse range of borrowers

Who benefits from ULI?

💰Customers gain access to more personalised and inclusive financial

products, making borrowing simpler and more accessible

🏦Lenders gain access to customer data from various silos, including

government databases (e.g., land records, GSTN) and satellite imagery through
standardised APIs

💼Fintechs gain access to a variety of lenders on one platform and unlock

business opportunities to provide deeper customer insights

Watch this video for more information on ULI: https://lnkd.in/gtNtVMpK

2 MuleHunterAI FRM An AI-driven fraud detection initiative focused on identifying and preventing
mule accounts in financial transactions, enhancing the security of the banking
ecosystem
3 Digital Innovation for Self-Help Groups New A transformative digitalisation project aimed at empowering millions of
digitalization women by streamlining the banking process for SHGs, enabling easier access
initiative to credit and building credit histories
4 Fintech and Startup Acceleration (FAST) Mentorship An ecosystem-building initiative designed to fast-track the development of
program fintech startups in India through targeted mentorship, market access, and
capacity-building programs

Note collated by Praveen