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At the Global Fintech Fest 2026 in Mumbai on 10 September 2026, RBI Governor Sanjay Malhotra unveiled UPI Tap and Pay, which lets users make near field communication based UPI payments by tapping a compatible smartphone on a point of sale terminal, permitting PIN less transactions up to Rs 5,000. The National Payments Corporation of India also launched MyUPI, a unified window showing a user's UPI transactions and Autopay mandates across banks and apps, including a Safety Switch that lets a user instantly decline UPI debit transactions if they suspect their account is compromised. Underlying these features is FiMI, Finance Model for India, a domain specific language model NPCI built to natively understand India's payment systems, transaction disputes and mandate management. Malhotra said trust takes years to build but can be lost quickly, and urged fintech firms to guard against risks from opacity, exclusion and cybersecurity.