UPI123PAY is named. It was launched by RBI in March. Through this, people using feature phones will be able to make digital payments easily. Especially people living in rural areas of the country will benefit greatly from this, because there are a large number of feature phone users. Let us know how this UPI facility will work and what will be the benefits for you.
how will payment
There are over 400 million feature phone users in the country. These users are deprived of the facility of digital payments. RBI has created a server side common library for digital payments. This includes feature phone users. The special thing is that feature phone users will not need internet to make digital payments. In feature phones, this facility of UPI is available in many languages. The name of this UPI facility is 123pay. With the UPI123pay facility, feature phone users can make payments in three easy steps. These are call, choose and pay.
must be linked to the account
To take advantage of UPI facility in feature phones, users have to first link their bank account with their feature phone. Users will have to generate their UPI PIN using their debit card details. After that you will be able to make payment. It is being considered revolutionary to make payments easier in rural areas. This will facilitate payment to the people and will also reduce congestion in banks.
this is the process
Step 1. The feature phone user will first have to call the IVR number 08045163666.
Step 2. Now you will be told about many options. These options are money transfer, LPG gas refill, FASTag recharge, mobile recharge, EMI repayment and balance check.
Step 3. The user can choose any option from the given options. Suppose you want to send money to someone, then select the money transfer option.
Step 4. Now you have to select the number of the person to whom the money is to be sent from the contact list.
Step 5. Now you have to enter the amount and UPI PIN. With this the transaction will be completed. Similarly, payment can be made to any shopkeeper.
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Source: navbharattimes.indiatimes.com
: Language Inputs
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