Business

This Is How UPI Would Work On Feature Phones And In Offline Mode

UPI stands for Unified Payment Interface. The Reserve Bank of India (RBI) on Tuesday announced the launch of UPI123Pay, which will allow feature phone users to make payments through unified payments interface (UPI). The feature will also allow users to make UPI payments without the internet on their feature phones.

In a new move, the Reserve Bank of India announced the launch of UPI123Pay to make payments without the internet on feature phones. The initiative is expected to deepen the digital payments ecosystem in India as it allows users to make payments using their feature phones.

UPI stands for the Unified Payments Interface, a payment system developed by the National Payments Corp. of India (NPCI) that enables clearing and settling cashless transactions between two parties.

UPI stands for unified payment interface, which is a payment system launched by NPCI (National Payments Corporation of India) to facilitate instant fund transfer between two bank accounts. The UPI app is available on both Android and iOS platforms.

How does UPI work?

UPI stands for Unified Payment Interface, which is a payment system launched by NPCI (National Payments Corporation of India) to facilitate instant fund transfer between two bank accounts. How UPI works on app is available on both Android and iOS platforms.

Step one: The user will have to link their bank account with their feature phones.

Step two: The user would then have to set up their UPI pin by using their debit card details. 

Step three: To make payments, the user will have to call an IVR number ‘080 4516 3666’ and select the payment option — money transfer, LPG gas refill, Fastag recharge, mobile recharge, EMI payment, balance check and more.

Step Four: To transfer the money to a peer, the users can simply select the ‘money transfer’ option and send the contact. The user will then have to enter the amount to be transferred and the UPI pin.

How to make sound-based payments?

UPI stands for Unstructured Supplementary Service Data. It is a system of sending money from one bank account to another using mobile phones in India. It was launched by the National Payments Corporation of India (NPCI) on April 21, 2016. UPI has been designed to remove the need to share sensitive information like credit card numbers and IFSC codes for making payments.

The user will also be allowed to make sound-based payments by tapping their phone on the sound-based payments device. After tapping the device, the user has to enter the amount to be transferred and validate the transaction with their UPI scan code.

The option of app based payment is also available.

The RBI has created a Server Side Common Library through which feature phone users have been included in the UPI payments mode, the central bank’s presentation revealed.

UPI123Pay will allow 400 million feature phone users in India to participate in the digital payments ecosystem of India. These purchases can be completed via SMS and do not require an internet connection. The UPI123Pay feature is available in several Indian languages

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button