March 08, 2022
UPI 123Pay App Download – RBI UPI Launched, Features & Install Process
Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday launched a new service that will enable over 400 million feature phone or ordinary mobile phone users to make digital payments in a secure manner. People who do not have an internet connection can make digital payments through this service called UPI ‘123Pay’ and this service will work on ordinary phones. Das said that till now the services of UPI are mainly available on smartphones, due to which people from the lower strata of the society are not able to use them. He said that this is especially so in rural areas.
He said that in the financial year 2021-22 so far, UPI transactions have reached Rs 76 lakh crore, as compared to Rs 41 lakh crore in the previous financial year. He said that the day is not far when the total transaction figure will reach Rs 100 lakh crore.
123pay UPI In Features Phone
According to an estimate, 400 million mobile phone users in the country have normal feature phones.
Deputy Governor T Ravi Shankar said that at present, UPI services are available to such users through USSD-based services, but it is quite cumbersome and not all mobile operators allow such services.
The RBI said feature phone users can now perform a wide range of transactions based on four technical options. These include 1) calling IVR (Interactive Voice Response) numbers, 2) app functionality in feature phones, 3) missed call based method and 4) proximity voice based payments.
Through this service, users can send money to friends and family, pay various utility bills and will also get the facility to recharge fast tags of vehicles and pay mobile bills.
How to install 123pay app on Features Phone
You can download the UPI app easily on your smartphone by following the steps given below.
Step 1: The first thing you need to do is opening Play store (for Android) or App Store (for Iphone) on your smartphone.
Step 2: Search for UPI and download the same on your mobile.
Step 3: Fill in the required details to set up the account.
Step 4: Next step is to create your virtual address.
Step 5: You need to provide mobile number which is linked to your bank account
Step 6: After providing your mobile number, you will be able to create a Virtual Payment Address (VPA).
Step 7: Link your bank account with VPA.
Step 8: Now you are all set to go for transaction with your UPI account.
Features of 123pay UPI app:
Check out some features of UPI app below.
1. UPI app is safe and secure for money transactions
2. You can link your several bank accounts to the UPI app
3. UPI service available on 24*7 basis
4. You can do merchant payments also with UPI app
Steps to register to transfer funds instantly with 123pay UPI :
Step 1: Download the BHIM app or any other app that supports UPI payments on your smartphone and install the app.
Step 2: When you open the app, you will be asked to select the preferred language from the list.
Step 3: You will be required to click on the ‘Proceed’ button and allow the app to access your SMS, calls, and location.
Step 4: The app will automatically send an SMS from your mobile number to itself in order to verify your mobile number.
Step 5: Upon verifying your mobile number, you will be asked to select the bank name from the list.
Step 6: The linked bank account details, such as the account number, IFSC, and bank name will be fetched by the app. If you have multiple accounts linked to the same mobile number, you may select the number you wish to link to the app.
Step 7: Set a UPI ID and a 6-digit or 4-digit PIN in order to authorise your transactions and keep them safe and secure. Now, you are good to go!
The post How to Install & Use 123pay UPI In Features Phone : Steps to Download appeared first on Golden Era Education.
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