UPI 123 Pay Limit: The Reserve Bank of India (RBI) has just lately raised the transaction restrict for UPI 123Pay from Rs 5,000 to Rs 10,000. But have you learnt what UPI 123Pay is? UPI 123Pay is a set of options designed for non-smartphone and have telephone customers, enabling them to make use of UPI companies with out web entry.
Transactions below UPI 123Pay are freed from cost. Adding additional, A UPI PIN is a 4-6 digit passcode that you just create throughout your preliminary registration by way of the cell app, IVR, or one other channel. This UPI PIN is required to authorize all financial institution transactions.
The improvement made within the RBI’s Statement on Development and Regulatory Policies on October 9, 2024, goals to reinforce the digital fee expertise for characteristic telephone customers throughout India.
Notably, the National Payments Corporation of India (NPCI) confirmed this variation in a round dated October 25, 2024, with a compliance deadline set for January 1, 2025. Customers can choose a language from the record supplied to them whereas utilizing UPI 123PAY. Here is the record of accessible languages: English, Hindi, Kannada, Tamil, Bengali, Malayalam, and Telugu.
UPI 123Pay: Payment Methods
UPI 123Pay allows each smartphone and have telephone customers to carry out numerous digital transactions by way of 4 handy strategies: voice fee through an IVR quantity, proximity sound-based funds, missed call-based fee choices, and an app-based scan-and-pay characteristic for characteristic telephones.
UPI 123Pay: Customers Can’t Link Multiple Accounts
The prospects can not have a number of financial institution accounts on UPI 123PAY. If the shopper desires so as to add one other account, then they have to de-register the present checking account after which add one other checking account.
How To Link Bank Account with UPI 123PAY?
Step 1: Dial the UPI 123PAY service quantity supplied by your financial institution or UPI service supplier.
Step 2: Choose your most popular language from the obtainable choices.
Step 3: Select the choice to register or hyperlink your checking account.
Step 4: Input your debit card info as prompted, together with the final six digits and expiration date.
Step 5: Create a safe UPI PIN for transactions and make sure it.
Step 6: Your checking account is now efficiently linked with UPI 123PAY, enabling UPI transactions.
