Secure and Convenient Payment Transactions with UPI 123PAY from Tata Capital.
Tata Capital, the Tata Group’s financial services subsidiary, is now introducing the UPI 123PAY digital payment option. According to a press release from Tata Capital, it is an immediate IVR-based payment system that allows customers to perform secure transactions via feature phones as well as smartphones. ToneTag VoiceSe powers the NPCI-created UPI 123PAY service.
123PAY UPI service
“The UPI 123PAY solution will be one more option in the bouquet of payment collection solutions for Tata Capital customers,” according to a news statement from the company. It will be especially beneficial for low-value payments and microfinance consumers, as well as for increasing operational and debt servicing efficiencies.”
What is the procedure?
The service is delivered in three steps: phone, select, and pay. For example, the first step is to dial the IVR number from a registered phone number, select the preferred language, choose the UPI-linked bank account, set up the UPI PIN, and eventually make payment.
There is no need for an internet connection.
Customers with limited access to smartphones and the internet will profit more than others from this new payment method. The three phases in the service’s three-step process are to call, select, and pay. For example, dialing the IVR number from a registered phone number, selecting the right language, selecting the bank account linked to UPI, configuring the UPI PIN, and finally completing the payment are the first steps.
There are six regions where it is available.
The payment system will be carried out in phases, beginning with Karnataka, Uttar Pradesh, Bihar, Odisha, Rajasthan, and Tamil Nadu, and will be offered in five languages.
What exactly is UPI 123Pay?
UPI 123Pay is a suite of tools designed for non-smartphone phone/feature phone users to use the UPI without internet connectivity.
How do I use my UPI PIN to authorize 123Pay transactions?
When you first register using the mobile app, the IVR, or any other channel, you establish or specify the UUPI PIN, which is a 4-6 number passcode. By entering this UPI-PIN, you must authorize any bank transactions. Note: MPIN issued by banks differs from UPI-PIN.
How do I use a feature phone to set my UPI PIN for UPI 123PAY?
Take the actions listed below:
1. The customer must dial the IVR number.
2. Choose the language by clicking on the language’s corresponding number.
3. Decide to set up a bank account.
4. The customer must submit debit card information.
5. The customer must input their UPI PIN.
What features of UPI can be used from the feature phone?
You can use the functionalities which are mentioned below:
1. Language options
2. Linking of bank accounts
3. Set UPI PIN
4. Reset UPI PIN
5. Merchant Payments
6. Settings
7. Deregistration.
