UPI News & Updates

[laksh211in]

UPI payments to be charged? RBI Governor clarifies

RBI Guv Sanjay Malhotra confirmed no proposal for UPI charges exists currently, clarifying his earlier remarks on its long-term sustainability. He stressed that while UPI is free due to government subsidies, the system's operational costs must eventually be borne by someone, whether collectively...

economictimes.indiatimes.com

 

[laksh211in]

UPI payments with face or fingerprint, no PIN needed from Oct 8: Story in 5 points

India is set to launch biometric authentication for Unified Payments Interface (UPI) transactions, allowing users to approve payments via facial recognition and fingerprints instead of the traditional PIN system. The rollout, beginning October 8, leverages biometric data linked to Aadhaar. This...

www.indiatoday.in

 

[laksh211in]

PayPal CEO: India's UPI is its platform's first onboard payments system partner

 

[Sushubh]

How the fuck are they going to verify fingerprint using aadhaar database?

 

[Smh]

I think it will use the local device bio authentication, like the apps do for initial interface. Or use device pattern/pin.

It can increase frauds though as users may approve the payment unknowingly but we'll they are doing it with pin too so.

 

[Sushubh]

The new biometric-based authentication, powered by Aadhaar data, promises to make transactions faster, easier, and more secure for millions of users across the country.

 

[pillaicha]

@Sushubh can't the biometrics of Aadhaar be secure enough to verify the identity of the account holder tied to that particular bank account, which is already seeded with Aadhar details?

 

[Smh]

It's Indiatoday article with reuters as source and they used a lot of "may be".

Most likely some intern wrote it with AI, without any logic.

Aadhaar is slow and with upi load 70% txn will fail. Not a single good reason to implement it.

 

[Sushubh]

i mean from my understanding phone biometric is locked and there is no way you can use it to match the fingerprint in aadhaar database. even if it is a one time authentication, it is just not allowed. good luck doing it with facial scan on iPhones. doing it on every transaction? lol.

this is probably why they use external readers for aadhaar authentication. though i suppose this might have another round of security requirements by uidai.

 

[laksh211in]

Yes it'll be Adhaar Enabled Biometric.This feature is optional, and users can still choose to use their PIN if they prefer.