RBI launches UPI payments service phones

Dubbed as 123Pay UPI, the service aims to provide security and reliability of UPI payments for over 400 million Indian users across the country. The novelty is that 123Pay UPI works on all types of phones, not only smartphones, and it doesn’t require an Internet connection to set the UPI PIN or make a payment.

The service will boost digitisation in India and help integrate new users in the UPI payments system, especially people from underprivileged and developing areas who do not have a stable Internet connection and their preferred payment method is cash.