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Context: Recently, Reserve Bank of India has launched a new Unified Payments Interface (UPI) payments solution for feature phone users dubbed ‘UPI123Pay’.
Significance of UPI
Challenges of UPI
How does the new solution (UPI123) work?
The main objective of the innovative *99# payments service is to allow financial inclusion of the underbanked and economically weaker sections of the society, and integrate them into mainstream banking.
How will users make payments without internet?
The new UPI payments system offers users four options to make payments without internet connectivity:
By: Shubham Tiwari ProfileResourcesReport error
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