The National Payments Corporation of India (NPCI) is developing an Internet of Things (IoT)-ready Unified Payments Interface (UPI) framework that will allow IoT devices, such as smart TVs, refrigerators, washing machines, and cars, to initiate payments without user intervention, according to two anonymous sources who spoke to the Business Standard.
For example, to illustrate a few possible use cases, if this feature is enabled, the parking fees could be paid directly from an IoT device in a car. Similarly, metro tickets can be processed…
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