The National Payments Corporation of India (NPCI) launched MyUPI, an AI-powered chatbot designed to help users manage their UPI transactions and AutoPay mandates across third-party UPI apps. The launch took place on September 23, following NPCI's announcement at the Global Fintech Fest 2026 on September 10. MyUPI is built using NPCI's in-house Small Language Model called FiMI, Finance Model for India, aiming to provide a unified view and support for UPI users, according to medianama.com.
MyUPI functions as an AI-enabled support platform that offers information, responses, and assistance related to UPI features. NPCI clarified that the chatbot's outputs are for informational and support purposes only and should not replace independent judgment. Any actions requested through MyUPI require verification, authentication, and regulatory approvals from the relevant banks or UPI apps. However, medianama.com noted that some announced features, such as Safety Switch and Automated Chargeback Processing, are not yet operational as of the launch date.
The introduction of MyUPI reflects NPCI's efforts to integrate AI into India's digital payments ecosystem, enhancing user experience and transaction management. The use of a proprietary language model tailored for finance underscores the focus on localized AI solutions. This move aligns with broader trends in fintech where AI is increasingly deployed to streamline customer service and automate routine processes, positioning NPCI alongside other digital payment innovators in India.
NPCI's privacy policy and terms of use for MyUPI have been effective since September 1, 2026, setting the regulatory framework for the chatbot's operation. The launch at Global Fintech Fest 2026 marks a key milestone in NPCI's AI adoption strategy for UPI services, as reported by medianama.com.