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RBI launches UPI 123PAY for feature phones

RBI launches UPI 123PAY for feature phones

In an effort to promote digitization and improve the security of online transactions, the governor of the Reserve Bank of India (RBI), Shaktikanta Das launched on Tuesday a new Unique Payment Interface (UPI) for feature phones, which he said would allow feature phones of 40 crore users in India to access the payment service.

Digisaathi platform is launched as a digital payment grievance portal by the governor, Shaktikanta Das at a special event of RBI calling the UPI platform “123 PAY”. He said the excluded group at the lower levels of society, especially in rural areas, will now be able to access UPI services.

RBI launches UPI123pay for feature phones and DigiSaathi

With the launch of this new UPI for feature phones, Das added that it will help the National Payments Corporation of India (NPCI), a leading organization operating retail payments and payment systems in India. Degree reached its goal of processing one billion transactions per day.

UPI ‘123Pay’ will also help RBI achieve its goal of saving less money, Das added, saying there will be more limited payment options for phone users.

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UPI has become a popular payment method via smartphones. The number of digital transactions has increased more than fivefold, and most of them are limited to smartphone users, Das said.

UPI services are available to the non-internet users, currently through USSD-based services, but this has proven cumbersome, and not all mobile carriers are alike authorizing such services – Governor T Rabi Shankar.

Feature phone users will now be able to make a multitude of transactions based on four technology alternatives, the RBI said.

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These users can make payments for family and friends, pay important bills, pay mobile bills, top-up FAST cards for their cars and the user will also be permitted to check their balances in accounts, he said. The RBI governor further added that the users can set or change the pins of UPI, it will also be enabled for the customers to link  their own accounts in the bank.

In addition, the 24/7 “Digisaathi” helpline will assist caller users with all their queries regarding digital payments through the website as well as chatbot.

Moreover, users can visit or call 14431 and 1800 891 3333 from their phones for digital payment questions and complaints.



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