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RBI Guv launches UPI for feature phones
March 08, 2022
The Reserve Bank of India (RBI) sent off a Unified Payments Interface (UPI) UPI123Pay for feature phones and a 24X7 helpline for digital payments platform DigiSaathi on Tuesday.
RBI Governor Shaktikanta Das said UPI123Pay will assist with accomplishing monetary consideration drive. “UPI123Pay makes offices under UPI available to that segment of society which was up until this point prohibited from the advanced installment scene,” he said at the send off. The installment framework will extensively have three stages to finish exchanges, he added.
DigiSaathi is a helpline for digital payment with offices to teach and make awareness, Das said, adding that the platform will expand efforts in improving digital payment awareness. These solutions have been natively evolved, he said.
The central bank’s lead representative said he was certain that the current ten years will witness a groundbreaking shift in the advanced payment ecosystem. RBI has assumed control north of 50 drives to extend the digital payment ecosystem throughout the course of recent years, he said.
RBI has been encouraging innovation through the regulatory sandbox, hackathon, and different measures and the drive sent off today will additionally speed up digital adoption, adding, “We actually have a distance to cover and exertion is to accomplish much more in digital payment.”
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