PNB Launches UPI 123PAY: A Game-Changer in Digital Payments

Punjab National Bank (PNB) has become the first public sector bank to launch an IVR-based UPI solution called UPI 123PAY. This new offering aligns perfectly with the Digital Payments Vision 2025, as PNB aims to contribute to the realization of a cashless and cardless society.

Unified Payments Interface (UPI) has revolutionized the way we make payments, providing a 24-hour channel for fast, encrypted, and real-time transactions. Until now, UPI solutions were accessible only through smartphones or USSD services, relying heavily on reliable internet connectivity. However, the introduction of UPI 123PAY changes the game by extending these functionalities to all phone users, including those in areas with low internet connectivity.

The UPI 123PAY solution simplifies the UPI transaction process, making it accessible to a wider audience. Users can follow three easy steps to complete their transactions. First, they need to dial the bank's user-friendly IVR number, "9188-123-123." Then, they choose the desired beneficiary, followed by authenticating the transaction. This user-friendly process ensures that even individuals with limited technological expertise can perform UPI transactions seamlessly.

To further enhance user experience, UPI 123PAY will be available in multiple languages, allowing customers to use the service in their preferred language. This inclusivity not only expands access to digital payments but also ensures that individuals from diverse linguistic backgrounds can benefit from this innovative solution.

PNB is not alone in embracing IVR payments. IDFC First Bank, City Union Bank, and NSDL Payments Bank have also joined the league of institutions offering IVR-based payment services. This collective effort marks a significant milestone in India's journey towards a more digitally empowered society.

Also Read:

• Supreme Court Revives Ban on Bike Taxis in Delhi