The months-long wait for UPI Lite to enable digital payments without internet is over. RBI Governor Shaktikanta Das on Tuesday introduced a new version of UPI upi123Pay for feature phones without internet.
With which now those users can also transact through UPI, who do not have a smartphone with internet. Along with this, RBI Governor has also introduced Digi Saathi, a 24×7 helpline for digital transactions.
People of rural areas will get help; On the occasion of the launch, Governor Das said that UPI for feature phones is going to help those people in rural areas who cannot buy smartphones and because of this they are not able to take advantage of UPI. NPCI President Vishwamohan Mohapatra said after the launch of UPI123Pay, “UPI123Pay will work to digitally empower millions of people across the country. This will also help NPCI to achieve the target of over one billion UPI transactions per day. Will get it.”
Major changes in the digital payments ecosystem: Governor Das took this opportunity to highlight the steps taken by RBI to promote digital payments over the years. Stressed the need to focus on cyber security aspects and said that there is a need to keep the system ready to face such risks. “In the last three years, RBI has taken several steps to promote digital transactions. The decade is going to bring a paradigm shift for the digital payments ecosystem in India.”
This version will not only have this feature of UPI: Through UPI 123 Pay, users are getting all the features except the scan and pay feature of UPI. For which internet connection will not be required. Customers will be able to link their bank accounts with their feature phones using this facility. UPI was launched in India in 2016. Since then, transactions through UPI have increased manifold. With UPI now available for feature phones, it is expected to accelerate further.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
