At the Global Fintech Fest 2025 in Mumbai (Oct 7–9), several major fintech innovations and regulatory moves were showcased.
- One of the headline developments is a pilot initiative to allow e-commerce payments via ChatGPT, combining India’s UPI (Unified Payments Interface) with AI agents so that users can directly authorize transactions using conversational interactions. Key partners include NPCI, Razorpay, OpenAI, plus banks like Axis Bank and Airtel Payments Bank.
- The Reserve Bank of India unveiled four digital payments initiatives aimed at boosting customer convenience. Among them: AI-based UPI HELP, which will use AI to assist users with payments issues, mandates, and dispute resolution.
- Also, at the Fest, India reaffirmed a cautious regulatory approach toward cryptocurrencies and stablecoins: these were largely absent from discussions. Instead, more focus was placed on official digital financial instruments like the e-rupee, tokenization, and sandbox frameworks. Reuters
- In another big move, British fintech Revolut committed around US$670 million to expand its operations in India over the next 5 years, especially in payments and foreign exchange products.
- RBI’s Governor also called on fintech startups to focus on serving the unbanked and underserved, reinforcing that financial inclusion and trust are central to the sector’s growth and social impact.
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