Why did RBI launch 'UPI 123
Pay'?
Currently,
UPI is only available on smart phones in the country. With UPI123Pay, 40 crore
feature phone users can also send and receive money. UPI is very useful in
feature phones for rural people who cannot afford to buy smart phones.
How can you use it to make
UPI payments without having access to the internet?
To utilize the UPI123 service on your phone, you must first create a UPI ID.
To
create a UPI ID over the phone, dial *99#, select your bank, and input the last
six numbers of your debit card, as well as the expiration date of your card.
After
that, you'll be prompted to set up your UPI pin.
Your
UPI ID will now be active.
What is DigiSaati?
The
National Premiums Corporation of India (NPCI) has set up a toll free number
24/7 to be available for compensation in case of any problems with UPI
Premiums. Users can call 14431 or visit www .digisaathi. Info can be visited.
This helpline number is currently available in English, Hindi and other
languages.
How to use UPI123Pay?
Call
the interactive voice response (IVR) number (08045163666 on your phone).
Select
your favorite language from the IVR menu.
Now
select the UPI-enabled bank.
To
confirm the details, press "1".
To
send money using your mobile number, press "1".
Enter
the recipient's mobile phone number.
Confirm
the particulars.
Now
type in the amount you'd want to transfer.
Authorize the money transfer by entering your UPI PIN.
UPI123Pay offers the
following four options:
1.App-based
functionality: a feature phone would be given an app that would allow it to
perform numerous UPI operations that are currently only available on smart
phones.
2.By
making a missed call to the number shown at the merchant outlet, feature phone
users will be able to access their bank account and complete ordinary
operations such as receiving, transferring funds, making regular purchases, paying
bills, and so on. The customer will be called and asked to confirm the
transaction by providing their UPI PIN.
3.Users would have to make a secure call from their feature phones to a specified number and complete UPI onboarding processes to be able to start performing financial transactions without an internet connection if they wanted to use UPI payment through pre-defined IVR numbers.
4.Sound
waves are used to provide contactless, offline, and proximity data
communication on any device with proximity sound-based payments.
How does UPI Pay help you?
Users
can send money to friends and family, pay utility bills, recharge their
vehicles' FAST Tags, pay mobile bills, and check account balances.
Customers
will be able to link their bank accounts as well as set or alter their UPI
PINs.