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PNB launches UPI payments with IVR based UPI 123PAY
July 05, 2023
Punjab National Bank (PNB) has launched an IVR-based UPI solution, UPI 123PAY. This offering aligns with the Digital Payment Vision 2025, propelling the nation towards a cashless and cardless society, PNB said in a statement.
The Unified Payments Interface (UPI) has revolutionised the way transactions are conducted in India, providing customers with a seamless, secure, and real-time payment experience. However, until now, UPI services were primarily accessible through smartphones or Unstructured Supplementary Service Data (USSD), reliant on robust internet connectivity.
This limitation hindered access to UPI for users without smartphones or residing in low internet connectivity zones. The UPI 123PAY solution, powered by PNB and ToneTag, breaks down these barriers and opens up UPI transactions to all mobile phone users, irrespective of their device’s capabilities or internet connectivity.
Leveraging Interactive Voice Response (IVR) technology, customers can now perform UPI transactions conveniently, even with the simplest feature phones, PNB said in a statement.
By leveraging ToneTag’s cutting-edge technology, PNB aims to reach millions of underserved customers, ensuring inclusive access to the benefits of digital payments. Through the UPI 123PAY solution, PNB customers can effortlessly make payments, transfer funds, and conduct various financial transactions using a simple and intuitive IVR interface, the statement said.
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