Key Product Launches at Global Fintech Fest 2026 in Mumbai: Agentic AI, UPI Features, and Cross-Border Payments

Key facts

• Global Fintech Fest (GFF) 2026 was held from September 8 to 11 at the Jio World Centre in Mumbai, Maharashtra, and was inaugurated by Prime Minister Narendra Modi.
• At GFF 2026, Prime Minister Narendra Modi outlined four industry goals: expanding UPI's global reach, extending fintech into pensions and insurance, building a Fintech Consumer Protection Index, and recognising agentic AI, tokenisation, and quantum computing as the next frontier.
• Department of Financial Services (DFS) Secretary Sanjay Lohiya introduced open-source Android ATMs that can open accounts, process loan applications, accept cheque deposits, and instantly issue RuPay cards and merchant UPI QR codes, reducing onboarding time from weeks to minutes.
• Nine lenders, including State Bank of India, Bank of Baroda, and Slice Small Finance Bank, are piloting the Android ATMs with manufacturers Hitachi Payment Services, Perto India, and Vortex Engineering.
• The National Payments Corporation of India (NPCI) launched AiNxt, an open-source agentic AI platform with components including AiNxt OS, Code, CLI, and Enterprise, and AtOM, an orchestration platform that creates signed, machine-readable audit trails for UPI integration and partner onboarding.
• Reserve Bank of India (RBI) Governor Sanjay Malhotra launched two new UPI features at GFF 2026: MyUPI, built on NPCI's payments-focused small language model FiMI, and UPI Tap & Pay, which allows PIN-less transactions of up to Rs 5,000 via NFC-enabled smartphones without internet.
• Amazon Pay launched its Smart wallet, allowing AI agents to make UPI payments on behalf of users, currently live for flight ticket booking, alongside biometric authentication and offline tap-to-pay.
• PhonePe partnered with Visa to introduce three cardless payment features: Tap to Pay, Cross Border Scan to Pay covering 14 markets including Singapore, Thailand, Japan, and South Korea, and Smart Accept for small merchants.
• BharatPe launched an agentic AI assistant for merchants built on Google Cloud's Gemini Enterprise Agent Platform, operating across more than 60 internal systems, and introduced Credit Coach featuring a digital avatar of former cricketer Rohit Sharma.
• Razorpay introduced Vulcan, described as India's first transformer-based AI foundation model for payments, developed with Nvidia and Amazon Web Services and trained on 4 billion payments and 3 trillion data points, increasing payment success rates by 8-10% during beta testing.
• Jio Financial Services' payments division partnered with Citi to launch a cross-border payments service enabling Indian businesses to accept international payments.
• Pine Labs partnered with L&T Finance to introduce an agentic commerce feature in the PLANET app, initially enabling an AI agent to book flights within user-defined spending limits.
• Amazon Pay and Kotak Mahindra Bank launched a co-branded credit card for Amazon Business merchants offering cashback, an interest-free credit period, and AWS cloud credit benefits.
• Yubi launched Pye, a retail lending platform routing borrower applications to lending partners, and TopScore, a consumer credit-health app displaying credit scores in 10 languages.
• Yes Bank and fintech company Open launched i-Mandate, an AI-based system that detects potential failures in recurring payments before debits occur, using voice and WhatsApp-based AI agents supporting 22 languages.
• Mahindra Finance expanded its partnership with Indian AI company Sarvam to deploy voice-based AI agents supporting 12 Indian languages across sales, collections, and employee operations in rural and semi-urban markets.
• Navi partnered with IndusInd Bank to add a new UPI payment switch to its payments infrastructure.
• Bengaluru-based Gnani AI expanded its Artha AI platform for banks, financial services companies, and insurers, offering over 200 pre-built workflows including payment reconciliation, underwriting, loan processing, and risk management.
• PayU launched Fraud Liability Protect (FLP), an AI-powered tool for Indian merchants accepting international card payments, with merchants seeing a 4-5% increase in international card payment success rates.
• PayU, Paytm, Razorpay, Juspay, and Skydo received cross-border payment aggregator licenses from the Reserve Bank of India (RBI).