The popularity of Unified Payments Interface (UPI) payments has made it a crucial component of digital transactions. Whether its local vendors or high street shops, everyone relies on it for swift money transfers. However, areas with limited internet connectivity, particularly rural regions, face a challenge in adopting UPI. To address this issue, Punjab National Bank (PNB) on Monday launched UPI 123PAY, an IVR-based UPI solution. This innovative solution allows users with any type of phone, even in low internet connectivity zones, to perform UPI transactions.
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UPI123PAY, developed by the National Payments Corporation of India (NPCI), facilitates UPI payments for feature phones, eliminating the requirement for an internet connection. Last year, the Reserve Bank of India (RBI) introduced 123PAY, a service enabling feature phone users to engage in a variety of transactions utilizing four different technological options. They include calling an IVR (interactive voice response) number, app functionality in feature phones, missed call-based approach and also proximity sound-based payments.
Unified Payments Interface (UPI) is a 24*7 payment channel enabling customers to perform fast, encrypted and real-time payments. Till now, the solution was accessible only through smartphones or through Unstructured Supplementary Service data (USSD) service and was dependent on good internet connectivity.
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Steps to pay using UPI 123PAY for PNB customers
Step 1-Dial the bank’s easy-to-remember IVR number “9188-123-123”
Step 2-Choose the beneficiary
Step 3-Authenticate the transaction
Further, UPI 123PAY will be multilingual and be available in the customer’s preferred language.
“India’s large population resides in rural and semi-urban areas. Such populations still rely on cash for their daily needs. With approximately 63 per cent of our branches being located in rural and semi-urban areas, PNB has a huge customer base in the remote regions of the nation. To facilitate such people, who do not have access to smartphones or internet connectivity, we are delighted to introduce the functionality of UPI 123PAY. It will enable everyone with any phone to make payments through UPI from anywhere in India. The functionality is also available for non-PNB customers,” said Atul Kumar Goel, MD & CEO of PNB.
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UPI payment through pre-defined IVR number
According to NPCI website: UPI payment through pre-defined IVR numbers (080 4516 3666 & 080 4516 3581 & 6366 200 200) would require users to initiate a secured call from their feature phones to a predetermined number and complete UPI on-boarding formalities to be able to start making financial transactions without internet connection. With the IVR providing multiple language options, customers can avail this service in their preferred languages. IDFC First Bank, City Union Bank & NSDL Payments bank have gone live on IVR payments.
