In order to bring thousands of feature phone users to the digital payment system, Reserve Bank of India (RBI) has recently introduced a new version of UPI called UPI 123Pay.
new Delhi. A facility like Unified Payments Interface (UPI) for digital payments allows you to transfer money easily sitting at home. For this, you need an app that supports UPI like Paytm, PhonePe, BHIM, Google Pay etc. The special thing is that UPI allows you to transfer money even if you have only one information such as scanner, mobile number, UPI ID.
However, to bring thousands of feature phone users to the digital payment system, the Reserve Bank of India (RBI) has recently introduced a new version of UPI called UPI 123Pay. With UPI 123Pay, now even those users who do not have a smartphone with internet will be able to do UPI transactions.
About 400 million feature phone users will be able to make UPI payments
UPI has emerged as the most used digital payment mode in recent years, with the launch of UPI 123Pay, about 400 million feature phone users can also use a secure digital payment system Will be able to do it. Through this service, users can send money to friends and family, pay various utility bills and will also get the facility to recharge fast tags of vehicles and pay mobile bills.
How to use UPI 123Pay for feature phones According to RBI, feature phone users will be able to transact with the help of 4 technical options.
1.Interactive Voice Response (IVR)- Dial the IVR number 08045163666 on your phone and follow the instructions and complete the payment through UPI PIN.
2.App-Based Functionality
3.Missed Call
4.Proximity Sound-Based Payments
