Reserve Bank of India i.e. RBI has changed its rules, due to which more money transactions can be done through feature phones. RBI Governor Shaktikanta Das has announced to increase the limit of UPI 123Pay in the Monetary Policy Committee on October 9. After the decision of RBI, now users will be able to send Rs 10,000 instead of Rs 5,000 with the help of UPI 123 Pay. Also, the limit of UPI Lite wallet has been increased from Rs 2000 to Rs 5000.UPI payment will increase in villages and towns
The big impact of RBI’s new decision will be seen in villages and poor sections, where feature phones are still used. The government has provided the facility of UPI payment without internet with the help of feature phones. It is known as UPI123Pay. With the help of this service, money transactions can also be done through button phones. For this it is not necessary to have internet in the phone. RBI believes that due to the new decision, a surge in UPI payments can be seen.
What is UPI123 Pay?
This is NPCI’s feature phone based UPI payment service, with the help of which you can make UPI payment without internet and smartphone.
How to make UPI payment without internet
- For UPI123Pay service, users will first have to dial 99# on their phone.
- Then users have to select option 1 in their feature phone.
- After this you have to select the transaction type.
- Then you have to enter the UPI ID of the UPI account to which you want to send money. Also the phone number or bank account number will have to be entered.
- Then you have to enter the UPI ID of the UPI account to which you want to send money. Also the phone number or bank account number will have to be entered.
- Then you have to enter the amount to be sent.
- After this enter your UPI PIN.
- Then you have to tap on “Send” option.
Note – It is important to know here that some banks provide the facility to make UPI payment without internet through USSD code.