Reserve Bank Of India has launched the new UPI Service ‘UPI123Pay’, for feature phones, allowing to connect 40 million feature phone users to India’s digital payment ecosystem and that too without the internet.
This was released by RBI’s governor Shaktikant Das on March 8.
India has set up a mobile phone consumer base of roughly 118 crores, of which around 74 crore own smartphones, which clearly indicates that the country has a sizeable number of feature phone users.
Making payment with UPI has already been accessible through the USSD method, but this new method will allow various digital payment options to users across the country.
Various methods of UPI transactions
The first method is to use Interactive Voice Response(IVR) numbers.
The second module is delivered via apps on feature phones, as most UPI functions will be available through the app.
The third method includes sound-based payments.
And the fourth and final method is known as the missed call approach. Users accept a callback from a standard number from UPI to establish & complete transactions
DigiSaathi
And also in order to provide support, the central bank has introduced DigiSaathi, a 24-hour helpline for digital payments, which will help users enquire via website or chatbot.
You can visit their official website for more information and you can also call 11430 and 1008913333 for any kind of assistance.
