Unified Payments Interface (UPI) payments no longer require a smartphone or an internet connection. The Reserve Bank of India is planning to launch UPI123Pay on Tuesday in order to connect lakhs of feature phone users to the country's digital payment ecosystem.
Individuals will be able to make direct payments to others via UPI using feature phones with this new way of digital payments. At the moment, the UPI payment feature is only available to smartphone users with internet access.
In recent years, particularly following demonetisation, UPI has grown as one of the most popular modes of payment. In terms of transaction volume, it is the single largest retail payment system in the country, reflecting its widespread adoption.
Source: News18