Bengaluru: GenWise, a digital platform for seniors, has teamed up with Axis Bank to roll out a UPI payment feature aimed at India’s elderly population. The move addresses the challenges many seniors face with existing digital payment apps, like complex interfaces and security concerns.
The new UPI service offers simpler features tailored for seniors, including audio-based guidance, geo-fencing, and biometric authentication to enhance safety. It also includes options like UPI Lite and Mobile Number Mapper, allowing seniors to use digital payments without linking their main bank accounts.
Nalin Bansal from NPCI noted the importance of making digital payments accessible for all, especially seniors who have been left out of this digital shift. Axis Bank highlighted its commitment to providing secure payment solutions for this demographic.
GenWise aims to reach 20 million seniors in the next two years and will hold awareness sessions across the country to promote the new UPI service. The platform also plans to introduce additional financial tools, such as retirement planning, to better serve India’s growing elderly population.
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