RBI launches UPI123Pay that allows UPI payments on feature phones

What is the News?

Reserve Bank of India has launched new UPI service for feature phones called UPI123Pay. It has also launched a 24×7 helpline for digital payments called ‘Digisaathi’.

What is UPI123Pay?

UPI 123PAY is a three-step offline method to initiate and execute transactions that will work on simple feature phones. 

It will allow users to use feature phones for almost all transactions except scan and pay.

The service does not need an internet connection for transactions. Users just need to link their bank account with their phones to use the service. 

How can transactions be done without the internet? UPI123Pay offers users four options to make payments without internet connectivity:

Interactive Voice Response (IVR): Users would be required to initiate a secured call from their feature phones to a predetermined IVR number and complete UPI on-boarding formalities to start making financial transactions like money transfer, mobile recharge, EMI repayment, balance check, among others.

App-based functionality: One could install an app on feature phones through which several UPI functions, available on smartphones, will be available on their feature phone, except the scan and pay feature which is currently not available.

Missed call facility: The missed call facility will allow users to access their bank account and perform routine transactions such as receiving, transferring funds by giving a missed call on the number displayed at the merchant outlet. The customer will receive an incoming call to authenticate the transaction by entering UPI PIN.

Proximity sound-based payments: One could utilize the proximity sound-based payments option, which uses sound waves to enable contactless, offline, and proximity data communication on any device.

What is Digisaathi?

DigiSaathi has been set up by the National Payments Corporation of India(NPCI).

It is a 24 x 7 Helpline for providing information on digital payment products and services.

It will use AI technology to answer any questions related to all types of digital transactions. Currently, it is available in English and Hindi language.

Source: This post is based on the article “What is the Temporary Protection Directive of 2001, and why has the EU invoked it for refugees of the Ukraine war?” published in Indian Express on 11th Mar 2022.

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