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.
Before initiating the transactions, there are a few points to consider. They are;
Once the UPI PIN has been set, users can use their feature phone to transact just like a smartphone user.
To make use of UPI123Pay through the IVR facility, in feature phones, one has to follow three simple steps:
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:
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.