RBI launches UPI for 400 mn users of feature phones
MUMBAI: Reserve Bank of India (RBI) governor Shaktikanta Das on Tuesday launched a new service that will enable more than 400 million feature phone users to undertake digital payments in a secure manner
The service christened UPI (unified payments interface) ‘123PAY’ is a three-step method to initiate and execute services for users and will work on phones that do not have an internet connection.
As of now, the multifaceted features of UPI are mostly available only on smartphones, which excludes people from the lower rung of society from an economic perspective, especially in the rural areas, from accessing the popular service, though smartphone prices are going down, Das said.
UPI volumes have touched ₹76 trillion in FY22 so far, as against ₹41 trillion in FY21, Das said. The day is not far when the overall volumes will touch ₹100 trillion, he said.
There are an estimated 400 million mobile phone users who possess feature phones.
At present, UPI services are available for such users through the USSD-based services, but the same has been found to be cumbersome and all the mobile operators do not allow such services, said deputy governor T. Rabi Shankar.
Feature phone users will now be able to undertake a host of transactions based on four technology alternatives. They include a facility to call an interactive voice response number and features such as app functionality in feature phones, missed call-based approach, and also proximity sound-based payments, RBI said.
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, it said, adding customers will also be able to link bank accounts, set or change UPI PINs.
Das also launched a roundthe-clock helpline for digital payments on Tuesday. This facility has also been set up by the National Payments Corporation of India.
The helpline, which has been christened ‘Digisaathi’, will assist users with all their queries on digital payments through a website and a 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, according to the central bank.