📌 **Introduction:**📌
The National Payments Corporation of India (NPCI) has set a deadline for UPI members to integrate the ‘Tap & Pay’ functionality by January 31 of the upcoming year. However, this date is merely a recommendation, emphasizing the convenience and security this feature offers to users.

📱 **Understanding UPI's ‘Tap and Pay’:**
Unveiled by the Reserve Bank of India (RBI) Governor, Shakitkanta Das, at the Global Fintech Fest in Mumbai, UPI's ‘Tap and Pay’ is heralded as a pioneering method to simplify UPI transactions, ensuring they remain secure and swift.

🔍 **Key Features and Specifications:**🔍

1. **NFC Technology:**

Unlike traditional methods that use cameras, the ‘Tap & Pay’ feature employs Near Field Communication (NFC) to capture the payee's UPI ID or Virtual Payment Address (VPA).

2. **Device Compatibility:**

This feature is exclusive to phones or devices equipped with NFC capabilities.

3. **Transaction Process:** Users can initiate payments by locating the ‘Tap & Pay’ button within their UPI apps. Upon tapping the device on the UPI Smart Tag/Smart QR, the transaction is seamlessly executed.

3. **Transaction Limits:**

  - Payments up to ₹500 are facilitated via UPI LITE.

  - Payments exceeding ₹500 require authentication through the UPI PIN.

4. **Platform Availability:**

The ‘Tap & Pay’ feature is accessible on both Android and iOS platforms. Presently, it is operational on two prominent apps: BHIM and Paytm (though limited to specific users on Paytm).

💡 **Conclusion:**

The introduction of the UPI ‘Tap & Pay’ functionality underscores India's continuous commitment to leveraging innovative fintech solutions. As more platforms and users adopt this feature, it promises to redefine the landscape of digital payments, prioritizing user convenience and security.