Millions of UPI users will now be able to make digital payments without internet. RBI recently unveiled the UPI123 feature that enables you to do transactions without internet connections. Currently, only smartphone users can avail this facility.
With this new feature, the feature phones will be given a NUUP feature (National Unified USSD Platform) using the shortcode of *99#.
“Watch out for the launch of UPI for feature phones – UPI123Pay and 24*7 helpline for digital payments – DigiSaathi by RBI Governor @DasShaktikanta at 12 noon on March 08, 2022,” the central bank of India wrote on Twitter.
FICCI president Uday Shankar said the announcements regarding simplification and deepening of UPI will further enhance the outreach of digital payment system making it even more seamless. “As part of the transition from LIBOR, we also look forward to the guidelines on the use of interbank rate or alternative reference rate (ARR) as benchmarks for ECB/Trade Credit,” Shankar stated.
With this new feature, people who are not well-acquainted with the internet will also be able to do payments just like card or cash payments. It will increase the reach of UPI payments overall.
For more breaking news, click here.