NPCI is introducing a new method of using biometric authentication in UPI transactions. The facility of making payments without a PIN number through fingerprint scan will be coming soon.
UPI (Unified Payments Interface) is the most popular payment method in India today. Every day, crores of people, businesses, and even small shops use UPI to make payments. In this situation, a big change is coming in this payment method. The National Payments Corporation of India (NPCI) is currently preparing to introduce a new method for UPI transactions through biometric identification. In this case, the facility of transferring money without a PIN number (passcode) is likely to start soon. For this, NPCI has started testing work in collaboration with several startup companies.
What is biometric identification?
Biometric identification is a technology that uses personal physical identification such as your fingerprint, face, and eyesight. The current UPI system requires a PIN number to make a transaction. However, if the new change is implemented, users will not need to enter a PIN. Instead, the transaction will be completed by scanning their fingers.
Benefits of this change
- There is no need to remember the PIN number.
- The speed of the transaction will increase.
- Security will increase. No one can steal PIN numbers.
- UPI will also be easier for senior citizens and illiterate people.
Security concerns
Biometric data is very sensitive. It needs to be stored securely. Appropriate legal restrictions should be implemented so that no company can misuse this data. NPCI is reportedly working on unique security designs for this.
What will happen in the first phase?
In the initial phase of the new system, both PIN and biometric methods will be used together. Users can choose the method they want. It will be a smooth transition.
When will it come?
It is currently in the testing phase. It is expected to be introduced for the common people in a few months. The technical work for this is fully operational on the part of NPCI. This new change will be a major revolution in the Indian money transfer system. The facility of transferring money through biometric identification without PIN is a great example of modern technological development. People can start enjoying this facility soon!
