RBI Governor Shaktikanta Das launch a new service, which will enable over 40 crore feature phone users to undertake digital payments in a secure way. This service christened UPI (unified payments interface) ‘123PAY’ is a three-step method to initiate and execute services for users which will work on simple phones which do not have an internet connection.
Shaktikanta 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.
Shaktikanta Das said, the UPI volumes have touch 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.
There are an about 40 crore mobile phone users who possess feature phones.
Deputy Governor T Rabi Shankar Said :
UPI services are available for such users through the USSD-base services, but the same has been found to be cumbersome and all the mobile operators do not allow such services.
Feature phone users will now be able to undertake a host of transactions base on four technology alternatives.
They include calling an IVR (interactive voice response) number, app functionality in feature phones, missed call-base approach and also proximity sound-based payments, the RBI said.
Such users can initiate payments to friends and family, pay utility bills, recharge the FAST Tags of their vehicles, pay mobile bills and also allow users to check account balances, adding customers will also be able to link bank accounts, set or change UPI PINs.
A 24×7 helpline for digital payments was also launch by Shaktikanta Das, which has also set up by the National Payments Corporation of India (NPCI).
The helpline christened ‘Digisaathi’ will assist the callers/users with all their queries on digital payments via website and chatbot.
You can visit website or call on 14431 and 1800 891 3333 from their phones for their queries on digital payments and grievances.
