By Karan Brar 12.03.2022
The RBI launches UPI123Pay which will allow feature phone users to connect easily to India's digital payment ecosystem.
They no longer need a smartphone or an internet connection to make UPI payments.
UPI 123PAY will enable more than 40 crore feature phone users to access the popular digital transaction platform without an internet connection.
UPI has grown to become one of the most popular modes of digital payment in India.
UPI 123 PAY requires a three-step process to initiate and execute a transaction
Four different technologies are used to feature phone users in the new payment system. – Interactive Voice Response (IVR) Number. – App functionality in feature phones. – Missed-call based procedure. – Proximity sound-based payments.
Feature phone users can make payments to friends and family, pay bills and do other transactions using UPI.
They can also check account balances and link bank accounts. Users can also set or change UPI Pins.