Now UPI payment will be done from feature phones as well. RBI has launched UPI ‘123PAY’ for this. He has also launched a 24×7 helpline for digital payments.
UPI ‘123PAY’ for Feature Phones: Now UPI payment will be done from feature phones as well. RBI Governor Shaktikanta Das has launched UPI ‘123PAY’ for this on Tuesday, 8 March. He has also launched a 24×7 helpline for digital payments, named Digisathi. RBI Governor Shaktikanta Das had announced the launch of a digital payment system for feature phones in December last year. UPI has emerged as a popular payment system in the country. The full form of UPI is Unified Payments Interface.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">RBI Governor Shaktikanta Das launches UPI payments for feature phones -UPI123Pay and 24*7 helpline for digital payments -DigiSaathi<br><br>This will promote financial inclusion in our economy, he says. <a href="https://t.co/Cf68oezsON">pic.twitter.com/Cf68oezsON</a></p>— ANI (@ANI) <a href="https://twitter.com/ANI/status/1501098735899901956?ref_src=twsrc%5Etfw">March 8, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Bank account will be linked to mobile
With the help of UPI123Pay, users will be able to make UPI payments from feature phones. All types of transactions can be done with this except Scan and Pay. Internet will not be necessary for payment. To use this facility, users will have to link their mobile number and bank account. RBI believes that with the introduction of UPI facility for feature phones, the use of digital payments in villages will increase. This will increase the reach of financial services. Many people in villages do not have smartphones, apart from this, the availability of internet is also not guaranteed there.
Feature phone with large population
The UPI payment platform was launched in 2016. Till now smartphone was required for UPI payment. Because of this, many people in the villages could not use it. Whereas even today a large part of the population uses feature phones. Let us tell you that according to the data of TRAI of October 2021, there are 118 crore mobile phone users. There are 74 crore smartphone users in the country. The survivors use feature phones. Through the UPI123Pay facility, feature phone users will be able to make digital payments just like smartphone users.
,