Big news for digital payments! The RBI is doubling the UPI 123Pay transaction cap to ₹10,000, empowering feature phone users to make seamless transactions without the need for an internet connection. Plus, with multiple language options, everyone can join in!
The Reserve Bank of India (RBI) has raised the transaction cap for UPI 123Pay from ₹5,000 to ₹10,000, aiming to enhance the accessibility of digital payments for users without smartphones.
This innovative payment solution is designed specifically for feature phones, enabling users to conduct UPI transactions even in the absence of an internet connection.
In a bid to cater to a diverse user base, the National Payments Corporation of India (NPCI) has rolled out multiple language options for UPI 123Pay, which now includes English, Hindi, Kannada, Tamil, Bengali, Malayalam, and Telugu.
Financial institutions are expected to implement these changes by January 1, 2025, ensuring a smoother transition for all users.
To begin utilizing UPI 123Pay, you can easily link your bank account by following these straightforward steps. First, call the UPI 123PAY service number that your bank has provided. Once connected, you will be prompted to select your preferred language from the list of options available.
Next, opt for the ‘Register’ option to initiate the linking process for your bank account. You will then need to input your debit card details, specifically the last six digits along with the expiry date.
After that, create a UPI PIN to ensure secure transactions and confirm it to finalize the process. Once you complete these steps, your account will be successfully linked and ready for UPI transactions.
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