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RBI launches secure payment service ‘UPI123PAY’

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.
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