RBI Governor Shaktikanta Das Launches ‘123Pay’ UPI Service for Over 40 Crore Feature Phone s 5b465q Technology News

Das said, as of now, the multifaceted features of UPI are mostly available only on smartphones. 3v1068

By Press Trust of India | Updated: 8 March 2022 13:53 IST

RBI Governor Shaktikanta Das Launches ‘123Pay’ UPI Service for Over 40 Crore Feature Phone s

Until now, UPI features were mostly available on smartphones 53e29

Highlights

UPI volumes have touched to Rs 76 lakh crore in FY22
123PAY will allow s to undertake digital payments
A 24x7 helpline set up by NPCI was also launched on Tuesday

ment

RBI Governor Shaktikanta Das on Tuesday launched a new service, which will enable over 40 crore feature phone s to undertake digital payments in a secure way. The service christened UPI (unified payments interface) '123PAY' is a three-step method to initiate and execute services for s which will work on simple phones which do not have an internet connection.

Das said, as of now, the multifaceted features of UPI are mostly available only on smartphones, which excludes people from the lower rung of the society from an economic perspective, especially in the rural areas, from accessing the popular service, even though the smartphone prices are going down.

He said, the UPI volumes have touched to Rs. 76 lakh crore in FY22 so far, as against Rs 41 lakh crore in FY21 and added that the day is not far when the overall volumes will touch Rs. 100 lakh crore.

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There are an estimated 40 crore mobile phone s who possess feature phones.

At present, UPI services are available for such s through the USSD-based services, but the same has been found to be cumbersome and all the mobile operators do not allow such services, Deputy Governor T Rabi Shankar said.

Feature phone s will now be able to undertake a host of transactions based on four technology alternatives. They include calling an IVR (interactive voice response) number, app functionality in feature phones, missed call-based approach and also proximity sound-based payments, the RBI said.

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Such s can initiate payments to friends and family, pay utility bills, recharge the FAST Tags of their vehicles, pay mobile bills and also allow s to check balances, it said, adding customers will also be able to link bank s, set or change UPI PINs.

A 24x7 helpline for digital payments was also launched by Das on Tuesday, which has also been set up by the National Payments Corporation of India (NPCI).

The helpline christened 'Digisaathi' will assist the callers/s with all their queries on digital payments via website and chatbot.

s can visit www.digisaathi.info or call on 14431 and 1800 891 3333 from their phones for their queries on digital payments and grievances.

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