With the vision of rolling out more and more digital products to customers, City Union Bank (CUB) has recently been in the limelight in the Global Fintech Fest (GFF) 2025 by unveiling a host of novel digital payment products and solutions. The new product launches are aimed to increase customer convenience and simplify financial services for all its customers.
These innovations, developed in partnership with NPCI and other partners, are sure to increase digital payments across India by streamlining payment processes and customer experience with enhanced security.
The Global Fintech Fest (GFF) 2025 was organised by The Payments Council of India (PCI), National Payments Corporation of India (NPCI), and Fintech Convergence Council (FCC)from October 7 to 9.
The new digital products launched by the bank which are unveiled by Governor of Reserve Bank of Indiain the GFF 2025 held at Mumbai during Oct 07-09, 2025 are
1. IoT Payments – ‘UPI Circle – My Devices’,
2. Single Block Multiple Debit (SBMD) – ‘UPI Reserve Pay’
3. SLM Chatbot – ‘UPI Help’ (Assistant pilot an AI powered support for UPI payments)
4. Introduction of Multisignatory Workflows through UPI
5. Enabling Cash Withdrawal through Micro ATM using UPI at Business Correspondent (BC) touch points.
6. Introduction of Additional authentication methods for UPI –BioAuth
7. Introduction of Additional authentication methods for UPI – Face Auth
8. Loan Against Mutual Funds (NTB Flow)
9. CUB Desire – NTB
10. CUB Depend – Credit Line on UPI
11. CUB RuPay MSME Card
1. IoT Payments – ‘UPI Circle – My Devices’
At the Global Fintech Fest (GFF) 2025, the Honourable Reserve Bank of India Governor launched an innovative feature – “UPI Circle: My Device”, making a significant leap in the evolution if digital payments. This pioneering initiative enables users to delegate UPI transactions to their IOT enabled smart devices such as Smart TV, ensuring a frictionless and secure payment experience. The solution aims to enhance user convenience by enabling seamless UPI transactions without the need to access a smartphone
2. Single Block Multiple Debit (SBMD) – ‘UPI Reserve Pay’
“UPI Reserve Pay,” powered by the Single Block Multiple Debit (SBMD) feature was unveiled by the Hon’ble Governor of the Reserve Bank of India, marking another milestone in India’s journey toward seamless and intelligent digital payment ecosystems. It enables customers to block funds within their bank accounts for defined goods or services, while allowing service providers to initiate debits periodically against the blocked amount based on consumption or billing cycles. The mechanism continues until the blocked funds are exhausted or the mandate is cancelled/revoked, offering both convenience and control to users.
3. SLM (Small language Model) Chatbot – ‘UPI Help’ (Assistant pilot an AI powered support for UPI
The SLM Chatbot provides 24/7 instant and intelligent assistance to users for queries related to UPI mandates, payments, and grievances, ensuring faster resolution and greater convenience. Designed with advanced AI and machine learning capabilities, the chatbot continuously evolves by learning from real interactions, thereby improving accuracy, contextual understanding, and customer satisfaction over time.
4. Introduction of CUB Multisignatory Workflows through UPI
This pioneering solution enables multiple authorizations within a single UPI transaction, transforming how organizations, joint account holders, and corporates manage digital approvals and payments.The Multisignatory Workflow feature allows layered transaction approvals before fund transfer execution, ensuring enhanced control, security, and compliance. Designed to meet the needs of businesses, institutions, and shared-account users, this initiative brings the robustness of traditional multi-checker models into the real-time UPI ecosystem, aligning with the growing demand for secure and accountable digital transactions.
5. Enabling Cash Withdrawal through Micro ATM using UPI at Business Correspondent (BC) touch points.
Currently, cash withdrawal services at Business Correspondent (BC) touch points are primarily facilitated through AEPS(Aadhar Enabled Payment System), allowing customers to withdraw cash using their Aadhar number and Biometric authentication. In line with NPCI guidelines, cash withdrawal process at BC outlets is now enabled by UPI QR based withdrawal. This enhancement enhances customer convenience and strengthen financial inclusion across urban and rural markets.
6. Introduction of Additional authentication methods for UPI –BioAuth.
Normally UPI transactions are authenticated by customer’s PIN. Now biometric authentication as an alternative to UPI PIN is rolled out for customer transactions which is safer and cannot be misused.
7. Introduction of Additional authentication methods for UPI – Face Auth.
In addition to using PIN based PIN Reset transactions, CUB has implemented Face authentication as an alternative to UPI PIN for customer PIN Reset transactions.
8. Loan Against Mutual Funds (New To Bankcustomers)
Digital Loan Against Mutual Funds was implemented by Bank to our customers. Now Loan against Mutual fund is made available for New to Bank Customers also.
9. CUB Desire – New To BankCustomers
CUB DESIRE - NTB, A systematic savings plan for CUB and NON CUB Customers is launched to save easily and fulfil their dreams and future plans.
10. CUB Depend – Credit Line on UPI
CUB DEPEND, Fully digital secured Credit Line on UPI backed by Fixed Deposits is launched.
11. CUB RuPay MSME Card
CUB RUPAY MSME CREDIT CARD, India’s First AI enabled Credit Card designed for smarter MSME customers is launched.
About City Union Bank (CUB):
City Union Bank Ltd., the oldest Private Sector Bank in India, was founded in 1904 and is headquartered at Kumbakonam, Tamil Nadu, India. The Bank has completed 120 years of Service to the nation. As on date, CUB is having 890+ branches and 1700+ ATMs/BNAs spread across pan India. CUB has always been a pioneer in providing advanced technology solutions to meet evolving needs of its diverse customer base. Tap, pay & go payments through Key chain and fitness watch, voice based authentication for logging into Mobile banking, Multi lingual Voice Chatbot in regional languages, Voice based UPI123 pay, End to End digital lending and Nap ID fraud filter layer are the latest innovations in this direction.
