Recently, the Reserve Bank of India (RBI) has launched new UPI services for feature phones called UPI123Pay for non internet users to make digital payments, also launched a 24x7 helpline for digital payments called 'Digisaathi'.
Context
Recently, the Reserve Bank of India (RBI) has launched new UPI services for feature phones called UPI123Pay for non internet users to make digital payments, also launched a 24x7 helpline for digital payments called 'Digisaathi'.
What is UPI123Pay?
- UPI ‘123PAY’ is a three-step method to initiate and execute services for users which will work on simple phones.
- It will allow customers to use feature phones for almost all transactions except scan and pay.
- It doesn’t need an internet connection for transactions.
- Customers have to link their bank account with feature phones to use this facility.
- Feature phone users will now be able to undertake a host of transactions based on four technology alternatives.
- They include calling an IVR (interactive voice response) number, app functionality in feature phones, missed call-based approach and also proximity sound-based payments.
- 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.
- Customers will also be able to link bank accounts, set or change UPI PINs.
UPI
- UPI is an instant real-time payment system developed by NPCI facilitating inter-bank transactions.
- The interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform.
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About ‘Digisaathi’
- A 24×7 helpline for digital payments has also been 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.
- Users can visit www.digisaathi.info or call on 14431 and 1800 891 3333 from their phones for their queries on digital payments and grievances.
- These initiatives are expected to help around 40 crore mobile phone users in India who possess feature phones.
