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RBI LAUNCHES UPI123PAY FOR FEATURE PHONES AND DIGISAATHI 2022

Context

Reserve Bank of India has launched two initiatives related to digital payments. One is UPI123pay, which provides a UPI payment facility on feature phones. The second is "DigiSaathi" a 24×7 Helpline for Digital Payments.

Key Points:

  • On March 9, 2022, the Reserve Bank of India and the National Payment Corporation of India introduced UPI 123Pay. 
  • This is a service that allows people with feature phones to access UPI and make payments without using the internet.
  • UPI123PAY will include all of the necessary smartphone functionalities for feature phones. 
  • This project will raise the bar for digital payments, paving the road for a cashless economy.

The specifics of the two initiatives:
1. UPI123pay is a UPI payment service for feature phones.

  • Users of feature phones will use Unified Interface Payments (UPI) to make payments with the UPI123pay. 
  • UPI123 pay now provides users of feature phones with four mediums/options for making UPI payments. 
  • The name UPI123pay means that UPI payments may be completed in three (123) simple steps: 
  • Call 
  • Make a decision, and
  • Pay For feature phone users, the only alternative for digital payments is to use USSD, which is inconvenient and unpopular. 
  • The introduction of UPI123pay would boost the payment ecosystem for India's 40 million feature phone consumers.
  • App-based Functionality
  • Missed Call
  • Inter-active Voice Response
  • Proximity Sound-based Payments

The following are the four alternatives in detail:

  • App-based Functionality – On the feature phone, an app will be installed through which numerous UPI functionalities available on smartphones will be available on feature phones.
  • Missed Call – Users of feature phones can make payments at merchant outlets using this service by dialling the number listed at the merchant outlet and leaving a missed call. The customer will be contacted by phone to confirm the transaction by entering their UPI PIN. Users can also utilise a missed call to access their bank account and complete routine transactions such as receiving, transferring funds, making regular purchases, and paying bills.
  • Inter-active Voice Response (IVR) – UPI payment using pre-defined IVR numbers would need users to make a secure call from their feature phones to a pre-determined number and complete UPI on boarding processes to begin performing financial transactions without an internet connection.
  • Proximity Sound-based Payments: This technology allows for contactless, offline, and proximity data communication on any device using sound waves.

    2."DigiSaathi"- 24×7 Helpline for Digital Payments
  • Users will receive automatic responses to questions about digital payment goods and services through this service. 
  • It is currently accessible in two languages: English and Hindi.
  • DigiSaathi can be accessed in one of the following ways:
  • toll-free number (1800-891-3333),
  • a short code (14431),
  • Website – http://www.digisaathi.info, and chat.

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