Live
- TGPSC to be restructured on par with UPSC
- Gabba pitch to have pace and bounce
- Not taking a break after Olympics left me emotionally drained
- SSC public exams from March 17 to 31
- Pathetic state of Zoo Park-Aramghar underpass turning deadly for commuters
- Losses galore for PCB if it pulls out of Champions Trophy over hosting deadlock
- Govt to support plot owners in build homes
- Bumrah maintains No.1; Brook displaces Root
- Karthik’s SA debut: More Indians to join league
- Govt aims to complete scrutiny of 80 lakh applications by month-end
Just In
- For this facility, the internet is not required and it can be used in various languages although initially, it is available in Hindi and English.
- The user will have to link his bank account with the feature phone and will have to set a UPI pin with the details of the debit card.
The Reserve Bank of India (RBI) today launched two key initiatives – namely UPI123Pay – Option to make Unified Interface Payments (UPI) payments for feature phone users, and (2) DigiSaathi - a 24x7 Helpline to address the queries of digital payment users across products.
Watch out for the launch of UPI for feature phones - UPI123Pay and 24*7 helpline for digital payments - DigiSaathi by RBI Governor @DasShaktikanta at 12 noon on March 08, 2022YouTube: https://t.co/lb5mhivRfd#rbitoday #rbigovernor #DPAW #UPI #digisaathi @UPI_NPCI
— ReserveBankOfIndia (@RBI) March 8, 2022
While launching the two initiatives, RBI Governor Shaktikanta Das highlighted the importance of these initiatives in enhancing the diversity, utility and transformational power of digital innovations in the country. These initiatives will further deepen the digital ecosystem and financial inclusion. The Governor also stated that the RBI stands committed to providing an enabling environment for this.
This new initiative by RBI will facilitate the use of UPI with text and allow feature phone users to seamlessly perform various financial and non-financial transactions. The 24x7 helpline will allow providing solutions to various queries about digital payments.
At present, efficient access to UPI is available on smartphones. UPI can be accessed through NUUP (National Unified USSD Platform) using the shortcode of *99#. But this option is cumbersome and not popular. Considering that there are more than 40 crore feature phone mobile subscribers in the country, UPI123pay will materially improve the options for such users to access UPI.
UPI123Pay includes four distinct options as below:
App-based Functionality: An app would be installed on the feature phone through which several UPI functions, available on smartphones, will also be available on feature phones.
Missed Call: This will allow feature phone users to access their bank account and perform routine transactions such as receiving, transferring funds, regular purchases, bill payments, etc., by giving a missed call on the number displayed at the merchant outlet. The customer will receive an incoming call to authenticate the transaction by entering UPI PIN.
Interactive Voice Response (IVR): UPI payment through pre-defined IVR numbers 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 an internet connection.
Proximity Sound-based Payments: This uses sound waves to enable contactless, offline, and proximity data communication on any device.
The 24x7 Helpline – 'DigiSaathi' – provides a channel to obtain help on the entire gamut of digital payments. Automated responses on information related to digital payment products and services are available in Hindi and English through multiple options like –
(a) toll-free number (1800-891-3333)
(b) a short code (14431)
(c) website – www.digisaathi.info, and chatbots.
DigiSaathi will assist users with their queries on digital payments via website & chatbot facility and through toll-free calls where users can dial or call out the options/products for which the information is required. More interactive options and language choices shall be enabled going forward.
The above initiatives are envisioned to accelerate the process of digital adoption in India, by creating a richer and more inclusive ecosystem that can accommodate larger sections of the population.
© 2024 Hyderabad Media House Limited/The Hans India. All rights reserved. Powered by hocalwire.com