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.
