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RBI has launched UPI payment product for feature phones. After which 40 crore feature phone holders of the country will be able to make online payments
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Now you can make digital payment from your feature phone like a smart phone. You will not even need internet to make payment. It may sound a bit strange to hear but, RBI has launched UPI payment product for feature phones. After which 40 crore feature phone holders of the country will be able to make online payments.
RBI Governor Shaktikanta Das has launched UPI based payments product today i.e. on Tuesday. RBI has named it UPI123Pay. With UPI123Pay, feature phone users will also be able to make digital payments very easily. Feature phone users will be able to do all types of transactions except Scan and Pay with UPI123Pay.
In fact, about 400 million people still use feature phones in the country. But the biggest drawback in the use of this phone was that people could not make UPI payments through this phone. Secondly, this phone does not even have internet facility. But now after the initiative of RBI, digital payment can also be done through feature phones. That too without internet. The biggest thing is that even the smallest amount will be paid by this.
The people living in the villages of the country will benefit the most from UPI123Pay. Usually people living in rural areas use feature phones only. At present, about 400 million people in the country use feature phones. But after the launch of UPI123Pay by RBI, now people living in rural environment can also take advantage of UPI payment.
With the help of UPI123Pay, people will be able to make UPI payments through feature phones. They can do all types of transactions with this except Scan and Pay. Internet will not be required for transactions. Most importantly, to take advantage of this facility, feature phone holders will have to link their mobile number and bank account.