RBI Introduces UPI 123Pay to Overcome Internet Connectivity Issues for Online Payments

UPI 123Pay: After demonetisation, online payments gained popularity due to the convenience and speed of digital transactions using apps like Paytm and Google Pay. However, internet connectivity issues posed challenges for UPI payments. To address this, RBI introduced UPI 123Pay, an initiative to make payments seamless in areas with limited internet access.

UPI 123Pay offers multiple options for making payments, catering to users with different devices and connectivity options. Even those without smartphones can avail themselves of this service by simply making a missed call to a designated number. Upon receiving the call back, users need to enter their registered number, and the payment will be processed within a short span of time.

Another option is Interactive Voice Response (IVR), where users can call a designated number and follow the prompts in their preferred language. They can enter the required details, including the amount to be paid, and complete the transaction easily.

Additionally, UPI 123Pay allows users to make payments through UPI applications, except for scan and pay options, and even enables proximity sound payments. This innovative technology uses sound waves to facilitate transactions, making it accessible on both smartphones and feature phones.

With UPI 123Pay, the RBI aims to make digital payments hassle-free for all users, regardless of their internet connectivity status. This initiative is expected to promote the adoption of online payments and contribute to the government’s push towards a cashless economy.

In conclusion, UPI 123Pay is a pioneering step towards enhancing the convenience and accessibility of digital payments, particularly in areas with internet challenges. It provides multiple options for making payments, catering to users with different devices and connectivity options, and is expected to further accelerate the trend towards online transactions in India.

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