The Reserve Bank of India (RBI) today launched a new service to provide the security and reliability of UPI payments to Indians of Rs 4 billion. This service, called 123Pay UPI, allows users to make UPI payments on feature phones. You don’t need a smartphone to set your UPI PIN or an active internet connection to make payments. It aims to boost the Digital India movement and help underprivileged citizens who previously lacked access to the national UPI system. For more information on India’s 123Pay service, check out the details below.
India launches 123PayUPI service for feature phones
123Pay was recently announced at an official launch event. RBI Governor Shaktikanta Das quoted the benefits and increased use of UPI payments and said they were for smartphone users only. It is estimated that about 4 billion rupees of Indians own feature phones like Nokia and Diso. And to this day they have not been able to send or receive money using the UPI payment system.
123Pay UPI service changed it, Provides an easy way for feature phone users to access UPI-related services Like remittances, gas refills, fast tag chargers and more. RBI creates a common server-side library that supports the service and Allow feature phones to use the UPI system without the internet.. In addition, this service is available in different regional languages to serve citizens in all parts of the country.
How does it work?
During the event, RBI shared a demo video of the 123Pay UPI service to show how it works for feature phone users. This is a three-step processTherefore, the name “123Pay” is intended to allow users to send or receive remittances directly to and from their bank account. However, feature phone users must link their mobile number to their desired bank account and use their debit card information to set up a unique UPIPIN before using the service.
Once your mobile number and bank account are linked, you will be able to: Dial the IVR number “08045163666” You can choose from a variety of UPI-related payment services on your feature phone. These include remittances, LPG gas refills, FastTag recharges, mobile recharges, EMI repayments, and balance checks.
With the money transfer feature, you can pay to other UPI users by selecting the phone number linked to the UPI from your contacts, entering the amount and entering your PIN.Users can also make App-based and NFC-based UPI payments You can easily make UPI payments using a supported device or by using the retailer’s “Missed Call Payment” feature.
Digisaathi 24 * 7 Helpline has started
Besides the 123PayUPI service for feature phones, RBI has also launched a 24/7 helpline platform for UPI-related queries and information... A helpline platform called “Digisaathi” aims to be a one-stop solution for users with digital payment related issues and queries.
Digisaathi Backed by artificial intelligence (AI) technology It is designed to be more intelligent along the life cycle.Provides information related to RTGS, NEFT, IMPS, UPI, NACH, PPI wallet, credit card, debit card, prepaid cardmore.
With these initiatives, RBI aims to facilitate digital payments in India and help underprivileged citizens learn more about the benefits of the UPI system. We will soon be testing the UPI payment feature on feature phones. So stay tuned to see how it actually works, and in the meantime, let us know your thoughts on the 123Pay service in the comments below.