‘Payment’ even without internet! Transaction will be done in one missed call, no need of cash; What is this magical process?

Nowadays the trend of digital payments is increasing rapidly. In cities, more people are sending money, paying bills and making purchases using their mobile phones. However, people living in rural areas still use feature phones or are not very familiar with the Internet.

‘UPI 123Pay’ will be implemented

In such a situation, Indian Overseas Bank (IOB) has taken a big step for them. Now even without a smartphone or internet, you can make UPI payment with a missed call and voice command.

Indian Overseas Bank, in collaboration with NPST and MiscallPay, is preparing to implement RBI’s ‘UPI 123Pay’. This ‘Voice-Based System Feature’ will allow phone users to make digital payments without internet.

What is ‘UPI 123Pay’ system?

‘UPI 123Pay’ is an initiative of the Reserve Bank of India (RBI) through which UPI transactions can be done even on feature phones. It is a system that allows feature phone users to make digital payments.

For this, your mobile number should be linked to your bank account and you should also have a feature phone that can make calls. After this, you can send, receive money or check your balance without an internet connection.

Now how to use this ‘UPI 123Pay’?

1. Using UPI 123Pay is easy. Simply call ‘08045163666’ from your phone.
2. After this select your language.
3. Then, if you are a first-time user, link your bank account.
4. After doing this, you can choose options like “Send Money” or “Check Balance”.
5. To send money you have to enter your mobile number, UPI ID or bank details.
6. After entering all the information enter the amount.
7. Enter ‘UPI PIN’ to complete the transaction.
8. Now end the call after the confirmation message comes.
9. It does not require any ‘Internet connection’ or ‘Application’. This process is completed through voice call.

Features of UPI 123Pay

The biggest advantage of this system is that it works without internet connection. Second, it reduces the risk of cyber fraud. The special thing is that it is available in 12 Indian languages ​​and it also has the facility to check balance, view previous transactions and manage UPI PIN.

Partnership of IOB and NPST

Indian Overseas Bank (IOB) is now preparing to launch this system for its customers. The bank has partnered with Network People Services Technologies Limited (NPST), which will implement it in conjunction with Miscallpay.

According to the information received, about 85 crore people in India still do not use UPI. Of these, about 40 crore are feature phone users. In such a situation, this step will also open the way for them to connect with the ‘digital payment system’.

Vision of NPST

NPST Chairman Deepak Chand Thakur said, “Voice-based UPI is a step that will connect every section of people in India to the digital economy.” He further said that in future the system will also be integrated with platforms like Alexa and Google Assistant and make payments easier.