3 mins
21-Oct-24
Exploring UPI123 pay: A complete guide for feature phone users
UPI123 pay has emerged as a game-changer in the realm of digital payments, especially for those using feature phones. As a part of the UPI ecosystem, UPI123 Pay provides access to digital transactions without requiring a smartphone or an internet connection. This revolutionary technology broadens the scope of financial inclusion, ensuring that individuals across all demographics can participate in cashless transactions. UPI123 Pay's primary objective is to empower feature phone users with the ability to make secure and seamless payments. It leverages a simple yet effective method to engage with the digital economy. This article explores UPI123 pay's mechanics, how it operates on feature phones, and the steps to create and use a UPI123 pay ID. It also delves into its business advantages, offering a comprehensive understanding of this innovative payment solution.What is UPI123 pay?
UPI123 pay is a simplified version of the Unified Payments Interface (UPI). It is designed specifically for feature phone users who lack internet connectivity. Unlike the traditional UPI, which relies on internet-based apps, UPI123 pay utilises a combination of technologies. These include Interactive Voice Response (IVR), missed call, and SMS to facilitate digital transactions. This makes it accessible to millions of people who use basic mobile phones. It provides them with the same convenience and security as smartphone users. UPI123 pay supports various banking functions, such as sending and receiving money, checking account balances, and even making bill payments. By bridging the digital divide, UPI123 Pay aims to democratise digital financial services. Thus, offering an inclusive approach that enhances financial literacy and participation among feature phone users.How does UPI123 pay work on feature phones?
UPI123 pay operates seamlessly on feature phones, employing several innovative methods to ensure smooth transactions. Here is a look at how it works:- Interactive Voice Response (IVR): Users dial a dedicated number and follow voice instructions to perform transactions. This user-friendly method guides them through each step, making it accessible even for those unfamiliar with digital payments.
- Missed call service: Users can give a missed call to a specified number, receiving a callback for transaction confirmation. This method ensures security and is particularly beneficial for quick payments.
- App on feature phones: UPI123 pay provides an app-like experience without needing internet connectivity. Users can navigate through menus using keypad inputs, offering a simple interface for performing financial tasks.
- UPI complaint resolution: Users can file and manage UPI complaints via the system, ensuring they can address any issues related to their transactions.
How to create and use a UPI123Pay ID
Creating and using a UPI123 pay ID is a straightforward process that empowers feature phone users to engage in digital transactions. Here is a step-by-step guide:- Registration: Dial the designated IVR number from your feature phone and follow the prompts. Select your preferred language for better accessibility.
- Bank selection: Choose your bank from the list provided by the system. This links your mobile number to your bank account, ensuring secure transactions.
- Create UPI ID: Follow the instructions to create a unique UPI ID. This ID acts as your virtual payment address, similar to an email ID, for conducting transactions.
- Set UPI PIN: Establish a secure UPI PIN, which will be required for authorising transactions. This PIN ensures that only you can access your account for payments.
- Use UPI123Pay ID: With your UPI ID set up, you can send and receive money, check balances, and pay bills by dialing the IVR or sending a missed call.
- Transaction confirmation: Receive transaction confirmations via SMS, providing assurance and transparency for each financial activity.
How to do UPI 123Pay?
Using UPI123 pay is an effortless way to perform digital transactions without needing a smartphone or an internet connection. Here is how you can leverage this system:- Dial the UPI number: Begin by dialling the specified UPI number on your feature phone. Follow the voice prompts to proceed.
- Select transaction type: Choose the type of transaction that you want to execute, such as sending money, checking balance, or making a payment.
- Input details: Enter the recipient's UPI ID, amount, and any additional details as instructed by the voice guide. This ensures accuracy and security in your transaction.
- Authenticate with PIN: Confirm the transaction using your UPI PIN. This step ensures that your financial data is protected from unauthorised access.
- Receive confirmation: Upon successful completion, receive an SMS confirmation for the transaction. This serves as a record and verification for your activities.
What are the business benefits of UPI123 pay?
UPI123 pay offers several advantages for businesses, making it an appealing choice for merchants and enterprises aiming to expand their reach. Here are some key benefits:- Expanded customer base: By catering to feature phone users, businesses can tap into a previously underserved market, broadening their reach and customer engagement.
- Cost-effective transactions: UPI123 pay reduces the need for expensive payment infrastructure. Businesses can conduct transactions without investing in additional hardware or internet services.
- Enhanced security: With encrypted transactions and PIN-based authentication, UPI123 pay ensures secure transactions, fostering trust among customers.
- Seamless integration: Businesses can easily integrate UPI123 pay into their existing systems, offering a cohesive payment experience for customers who use various devices.
- Increased financial inclusion: By embracing UPI123 pay, businesses contribute to financial inclusion efforts, ensuring that customers from diverse backgrounds have equal access to digital payment services.
