RBI Launches Instant Payment System “UPI 123PAY”, Helpline For DigiSaathi

RBI Governor Shaktikanta Das also launched the 24×7 helpline for digital payments – DigiSaathi.

New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday launched an instant payment system “UPI 123PAY” for feature phone users. The RBI chief said that the new Unified Payments Interface (UPI) will allow India’s 40 crore feature phone users to access the payment service in a more secure manner.

Currently, UPI services are available for users through the USSD-based (Unstructured Supplementary Service Data-based) services.

Feature phone users will now be able to undertake a host of transactions based on four technology alternatives. They include calling an IVR (interactive voice response) number, app functionality in feature phones, missed call-based approach and also proximity sound-based payments, the RBI said.

Such users can initiate payments to friends and family, pay utility bills, recharge the FASTags of their vehicles, pay mobile bills and also allow users to check account balances, the central bank said. 

Customers would also be able to link bank accounts, set or change UPI PINs (personal identification numbers), it added.

Mr Das also launched the 24×7 helpline for digital payments – DigiSaathi.

The helpline will assist the users with all their queries on digital payments through website and chatbot. Users can visit www.digisaathi.info or call on 14431 and 1800 891 3333 for their queries on digital payments and grievances.

UPI is the country’s largest digital payment system in terms of transaction volumes. UPI is developed by National Payments Corporation of India (NPCI), umbrella organisation for all digital payments.