Governor of the Reserve Bank of India (RBI), Shaktikanta Das launched the ‘UPI 123PAY’ instant payment system for feature phone users on Tuesday.
The news: According to RBI, the new Unified Payments Interface (UPI) will allow India’s 40 million feature phone users to access payment services in a more secure manner.
- The users can currently access UPI services via USSD-based (Unstructured Supplementary Service Data-based) services.
- RBI said feature phone users will now be able to undertake a host of transactions based on four technology alternatives. This includes calling an IVR (interactive voice response) number, app functionality in feature phones, missed call-based approach and also proximity sound-based payments.
- Users can initiate payments to friends and family, pay utility bills, recharge the FASTags of their vehicles.
- Along with the new payment system, a 24×7 helpline for digital payments– DigiSaathi was also launched.
- Users can visit www.digisaathi.info or call on 14431 and 1800 891 3333 for their queries on digital payments and grievances.