RBI launch UPI for Features Phones, 123Pay – Benefits

RBI launch UPI for Features Phones

RBI launch UPI for Features Phones:- The RBI governor Shaktikanta Das rolled out a unified payments Interface (UPI) service called UPI 123Pay for phones to accelerate digital adoption and launched a 24×7 helpline for digital payments called DigiSaathi. The move comes after RBI announced its plan to introduce UPI in feature phones in December 2021.

UPI 123Pay, the latest measure used by the apex bank to push digital transactions, will allow customers to use feature phones for almost all transactions barring scan and pay, and will not need an active internet connection. All customers will need to do is link their bank account with feature phones to use this facility. This is expected to help people in rural areas who do not have a smartphone to participate in UPI transactions.

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The UPI 123Pay service will provide an app-based functionality and will allow feature phone users to access their bank accounts and perform routine transactions by giving a missed call on the number displayed at the merchant outlet. The customers can also make UPI payments through pre-defined interactive voice response (IVR) numbers and use proximity sound-based payments – a technology that uses sound waves to enable contactless, offline, and proximity data communication on any device.

Enabling UPI capabilities on feature phones will likely increase the digital penetration of financial services and help a large segment of people without access to smartphones or reliable internet services to transact digitally.

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“DigiSaathi”- 24×7 Helpline for Digital Payments

  • This service will provide users with automated responses on information related to digital payment products and services. Presently it is available in English and Hindi language.
  • Users can access DigiSaathi via any of the following modes:

UPI 123Pay Features

Governor said that this 123Pay UPI will enhance the digital money transfer and reduce the cash dependency for non-smartphone users.

How to make payment using UPI 123Pay

When asked about how 123Pay UPI will be used to make digital payments, Governor explained that there are four ways by which a user can make a payment.

  • Users can call a phone number that will be provided by the NCPI. It will be an IVR system and the user will be able to make transactions by a secured call.
  • In the second method, an App will be featured in the feature phone which will have options to make online payments. The scan and pay option will not be available in this app but soon RBI is planning to add an alternative to that.
  • The third option will be for contactless payments and this technology is sound-based. The transactions will be made using contact and networking.
  • This method will use a missed call. The user will have to give a missed call and he /she will get a callback. Then the user will be able to provide a secure pin and make the transfer.

The app will have features that allow you to make online payments like fastag, LPG payment, Electricity bills, and every other function that a normal UPI can do.

For any query or complaint mail at [email protected]

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