Groww Logo
Home>Blog>News>RBI Launches UPI123Pay: Read How to use UPI in Feature Phone?

RBI Launches UPI123Pay: Read How to use UPI in Feature Phone?

09 March 2022
3 minutes

Unified Payment Interface, launched in 2016, has seen quick adoption. UPI crossed over a billion transactions for the first time in October 2019. The outbreak of Covid-19 further accelerated it. 

The use of Unified Payments Interface (UPI) across the country has jumped 70 times in the last four years. In December 2021, UPI recorded 4.56 billion transactions worth Rs 8.27 trillion. UPI transactions have acquired quick fame in India because of the ease and convenience in carrying out financial transactions. Both in transferring funds and making payments. 

However, efficient access to UPI and related financial services have been available only to those with a smartphone. Those with feature phones (a phone that usually lacks the advanced facilities of a smartphone) didn’t have the advantages of transacting via UPI.

While it is possible to access UPI in the feature phone, many consider it difficult. UPI can be accessed through NUUP (National Unified USSD Platform) using the shortcode of *99#. But this option is cumbersome and not popular as it involves a long process involving many steps.  

So to provide access to the feature phone users, RBI recently launched UPI123Pay. Now, little over 40 crore feature phone users can access UPI and its related financial services. 

Setting up

Before initiating the transactions, there are a few points to consider. They are;

  1. Users need to link their bank account with UPI123.
  2. Set-up UPI PIN. This secures each of the transactions a user makes.

Once the UPI PIN has been set, users can use their feature phone to transact just like a smartphone user.

How to use UPI123Pay?

To make use of UPI123Pay through the IVR facility, in feature phones, one has to follow three simple steps:

  1. Call the IVR number 
  2. Select the service such as electricity payment, phone bill or money transfer
  3. Make the payment  

How to use UPI in feature phones?

We have seen how to use UPI via IVR above. Note that there are other ways to use UPI123 in a feature phone. They include: 

  1. App-based Functionality: An app would be installed on the feature phone to use UPI-related financial services.
  2. Missed Call: This will allow feature phone users to access their bank account and perform transactions, including money transfers and bill payments. Under this, the user needs to give a ‘missed call’ on the number displayed at the merchant outlet. The customer shall then receive an incoming call to authenticate the transaction by entering the UPI PIN.
  3. Interactive Voice Response (IVR): In this, users would be required to initiate a secured call from their feature phones to a predetermined number and complete UPI on-boarding formalities. Post this, users will be able to transact without an internet connection.
  4. Proximity Sound-based Payments: This uses sound waves to enable offline, contactless, and proximity data communication on any device.

Takeaway

In addition to UPI123pay, a 24×7 helpline – DigiSaathi – has been launched. This would assist users with queries on digital payments. This service is available through the website, chatbot facility and toll-free calls.

This new service-UPI123pay- is expected to accelerate the process of digital adoption in India and promote financial inclusion in the country by making facilities under UPI more easily accessible to that section of society that has till now been excluded from the digital payments landscape.

Do you like this edition?
LEAVE A FEEDBACK
ⓒ 2016-2022 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 2.3.8
STOCK MARKET INDICES:  S&P BSE SENSEX |  S&P BSE 100 |  NIFTY 100 |  NIFTY 50 |  NIFTY MIDCAP 100 |  NIFTY BANK |  NIFTY NEXT 50
MUTUAL FUNDS COMPANIES:  ICICI PRUDENTIAL |  HDFC |  NIPPON INDIA |  ADITYA BIRLA SUN LIFE |  SBI |  UTI |  FRANKLIN TEMPLETON |  KOTAK MAHINDRA |  IDFC |  DSP |  AXIS |  TATA |  L&T |  SUNDARAM |  PGIM |  INVESCO |  LIC |  JM FINANCIAL |  BARODA PIONEER |  CANARA ROBECO |  HSBC |  IDBI |  INDIABULLS |  MOTILAL OSWAL |  BNP PARIBAS |  MIRAE ASSET |  PRINCIPAL |  BOI AXA |  UNION KBC |  TAURUS |  EDELWEISS |  NAVI |  MAHINDRA |  QUANTUM |  PPFAS |  IIFL |  Quant |  SHRIRAM |  SAHARA |  ITI