What is UPI 123Pay
According to an HDFC Life press release, “UPI 123PAY is a payment facility through a pre-defined IVR (Interactive Voice Response). This platform will enable customers to make financial transactions with or without an internet connection. Customers can avail this service in various regional languages such as Hindi, Marathi, Gujarati, Punjabi, Kannada, Tamil, etc.”How it works
The process is very simple – a customer has to initiate a secure call from their phone using the UPI number 080 4516 3571, and complete the UPI on-boarding formalities. Once this is done, they can start transacting.
NPCI’s UPI 123Pay
To encourage the adoption of digital financial services, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) jointly developed and introduced UPI 123PAY, a voice-based payment feature. Users of smart phones and feature phones can conduct a variety of digital transactions with UPI 123PAY thanks to four different methods: voice payments via IVR numbers, proximity sound-based payments, missed call-based payment ways, and app-based scan and pay on feature phones.
Important things to know on UPI123Pay
- You do not require a smartphone for a UPI Payment using UPI 123PAY.
- Internet is not required for making payments through Feature Phone.
- Customer have to enter UPI PIN every time he makes the transactions.
- Per day transactions limit is Rs 1,00,000.
- Per transaction limit is RS 5000 on UPI 123pay.
How to link bank account with UPI 123PAY?
Follow the below steps to link bank account with UPI 123PAY:
1.Call on any IVR number
2. Select your language
3. Choose to register your bank account
4. Enter your debit card details
5. Set UPI PIN
6. Bank accounted successfully linked with UPI 123PAY