(M.C)
Reserve Bank of India (RBI) governor Shaktikanta Das on 8 March launched UPI for feature phones called UPI123Pay. He also launched 24×7 helpline for digital payments – DigiSaathi. Also, Das stressed on the need to focus on cyber security aspects and said systems need to be prepared to face such risks
UPI on feature phones will help people in rural areas who cannot afford a smart phone to participate in UPI transactions, Das said. “This current decade will witness a transformative shift in digital payments ecosystem in the country,” Das said, adding the RBI has announced several measures in the last three years to push digital transactions. Also, Das stressed on the need to focus on cyber security aspects and said systems need to be prepared to face such risks. But UPI payments remained a smart phone-supported payment platform. Many people in rural areas were not able to participate in payments using feature phones. In December, the RBI announced plan to introduce UPI in feature phones.
