Another big news from the Reserve Bank of India came today. The Reserve Bank of India (RBI) is offering instant transactions not only to smartphone users but also to ordinary mobile phone users. RBI Governor Shashikant Das has launched the company’s new ‘UPI 123P’ service.
Until now, smartphone users have been able to make cashless transactions through the Unified Payments Interface (UPI) app. This time around 400 million ordinary phone users of the country will also get that opportunity. In addition, the Reserve Bank has launched a digital helpline for the convenience of customers with digital payment services.
According to Reserve Bank sources, customers receive UPI services through a USSD (Unstructured Supplementary Service Data) -based system. Ordinary mobile users will get this opportunity through four systems in the new scheme. These include calls to IVR (Interactive Voice Response) numbers, missed call-based methods, proximity sound-based, and app-based payment services for some common phones (feature phones).
