The months-long wait for UPI Lite, which enabled digital payments without internet, is now over. RBI Governor Shaktikanta Das on Tuesday introduced the new version of UPI upi123Pay for feature phones without internet. With this, now even users can make transactions with UPI, who do not have a smartphone with internet. Along with this, the RBI Governor has also introduced a 24x7 helpline digiSaathi for digital transactions.
People in rural areas will get help; On the occasion of the launch, Governor Das has said that for the feature phone, UPI is going to help those people in rural areas, who cannot afford smartphones and due to this, they are not able to take advantage of UPI. NPCI Chairman Vishwamohan Mohapatra said after the launch of UPI123Pay, "UPI123Pay will work to digitally empower millions of people across the country. This will also help NPCI in achieving the target of more than one billion UPI transactions per day."
Massive changes in the digital payment ecosystem in this decade: Governer Das took the opportunity to highlight the steps the RBI has taken to promote digital payments in the last few years. He stressed the need to focus on cyber security aspects and said that the system needs to be kept ready to face such risks. "In the last three years, the RBI has taken several steps to promote digital transactions. This decade is going to bring about a paradigm shift for the digital payments ecosystem in India."
This version will not have only this feature of UPI: Through UPI123Pe, users are getting all the features except UPI's Scan & Pay feature. It won't even require an internet connection. Customers will be able to connect the bank account to their feature phone using this facility. UPI was launched in India in 2016. Since then, transactions through UPI have increased manifold. Now with the UPI available for feature phones, it is expected to accelerate further.
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