What is UPI 123pay
The Unified Payments Interface (UPI) is a 24-hour payment channel that allows customers to make secure, real-time payments. Until until, the solution was only available via smartphones or the Unstructured Supplementary Service Data (USSD) service, and it was reliant on adequate internet connectivity. The UPI 123PAY solution would broaden the functionality and make it easier for phone users and those in areas with limited internet connectivity to conduct UPI transactions.How to use
The UPI 123PAY functionality is simple and involves the following steps, as per the press release:
Step 1-Dial the bank’s easy-to-remember IVR number “9188-123-123”
Step 2-Choose the beneficiary
Step 3-Authenticate the transactionFurther, the UPI 123PAY will be multilingual and be available in the customer’s preferred language.Other banks
IDFC First Bank, City Union Bank & NSDL Payments bank have gone live on IVR payments. Solutions are supported by Ultracash & Tonetag.
Important FAQs about UPI123Pay as per NPCI website.
Is UPI PIN required in UPI 123pay?
While registration of your account with UPI 123PAY, you have to setup a 4-6 digit UPI PIN.
Customer have to enter UPI PIN every time he makes the transactions.
Note: If the customer already has a UPI PIN, they can use same UPI PIN.
How to authorize UPI 123pay transaction with UPI PIN ?
UPI PIN is a 4-6 digit pass code you create/set during first time registration with the Mobile App/IVR/any other channel. You have to enter this UPI-PIN to authorize all bank transactions. (Note: Banks issued MPIN is different from the UPI UPI-PIN) Note: Please do not share your UPI-PIN with anyone.
Which languages are supported on UPI 123pay ?
You can do feature phone payment currently in English, Hindi & Kannada.
What is miss call pay? How payment can be made using this service?
MISS CALL PAY allows customer to make transactions by just giving a miss call to a number.
Then the customer will get a call back (this call will be from a specific number) immediately where it will mention the name of beneficiary and ask you enter your amount followed by UPI PIN. Payment will be successful on entering correct UPI PIN.
What UPI functionalities can be used from feature phone ?
You can use the functionalities which are mentioned below:
1.Multilingual
2.Linking of bank accounts
3.Set UPI PIN
4.Reset UPI PIN
5.Merchant Payments
6.Settings
7.Deregistration