RBI (Reserve Bank of India) has finally introduced UPI for feature phones in India. It doesn’t require an internet connection but misses out on the scan and pay option.
UPI payment system so far has been limited to smartphones with internet connections. UPI has disrupted digital payments across the country as it eliminated the need to carry a card or physical currency. On Tuesday, the Reserve Bank of India (RBI) introduced a new digital payment mode called UPI 123Pay for feature phones. Up until now, the UPI system has been limited to smartphones with an internet connection. Apparently, there are over 180 crore mobile users in India, of which,78 crore use smartphones, and the rest use feature phones. RBI is finally catering to a massive segment of feature phone users in the country who have been unable to perform digital transactions just because they do not own a smartphone. “ UPI123Pay will digitally empower millions across the country and help NPCI achieve its dream of billion-plus daily UPI transactions,” said Biswamohan Mahapatra, chairman, National Payments Corporation of India (NPCI).
