The Reserve Bank of India (RBI) governor Shaktikanta Das on March 8 launched UPI for feature phones called UPI123pay. He also launched a 24×7 helpline for digital payments in Mumbai.
- There are more than 400 million feature phone users in India and they are not able to use digital payment solutions. Considering this fact RBI has launched the UPI for feature phones.
Salient features of UPI123pay
- This new initiative by RBI will facilitate use of UPI with text and allow feature phone users to seamlessly perform various financial and non-financial transactions.
- The 24×7 helpline will give an opportunity to provide solutions to various queries about digital payments.
- There is server side common library which enables the user to do digital payments.
- For this facility internet is not required.
- It can be used in various languages although initially it is available in Hindi and English.
- User will have to link his bank account with the feature phone and will have to set a UPI pin with the details of the debit card.
What are Feature phones?
- Feature phones are not smartphones and serve basic functions like making calls and sending a text message
- To deepen financial penetration, RBI Governor Shaktikanta Das said it is important to bring feature phone users into mainstream digital payments.
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