CONNECT WITH US
Fintech

Fintech

PhonePe Launches UPI Payments For Feature Phones

Inc42 – Fintech logo

Published on

Add as a preferred source on Google
PhonePe Launches UPI Payments For Feature Phones

Walmart-owned fintech major PhonePe has launched UPI payments for feature phones, mobile phones that handle basic calling and text messaging, enabling them to make digital transactions without requiring an internet connection.

With the launch, PhonePe claimed to have become the first major third-party application provider (TPAP) to extend UPI payments to feature phone users at scale.

The company said that its new service, dubbed PhonePe UPI 123Pay, will bring UPI capabilities to more than 20 Cr feature phone users in the country.

The service will come pre-installed on feature phones manufactured by Nokia, HMD, Lava International and Itel Mobile, which is owned by Transsion Holdings. PhonePe said it plans to add more handset partners in the coming months.

PhonePe UPI 123Pay uses an SMS-based architecture, processing transactions in areas with limited 2G connectivity. Users will be able to make P2P (peer-to-peer) transfers using mobile numbers or UPI IDs and pay merchants through UPI IDs and QR codes on camera-enabled devices.

To help users activate the service, PhonePe has also launched a voice-first, AI-powered helpline that offers assistance in English and 12 Indian languages. Users can register for the service directly on compatible feature phones by selecting their bank, entering the last six digits and expiry date of their debit card, and setting a UPI PIN.

“Bringing UPI to feature phones through PhonePe UPI 123Pay extends the benefits of digital payments beyond smartphones to every corner of the country,” said Sameer Nigam, founder and CEO of PhonePe.

For context, the RBI announced the introduction of UPI123Pay , the offline version of UPI in 2022.


Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.