December 9, 2021
1 min read

UPI for feature phones soon

The details about the UPI platform for feature phones will be announced “shortly”….reports Asian Lite News

With an aim to increase the penetration of digital payments, the Reserve Bank of India has decided to develop the UPI platform for feature phones.

India has one of the largest mobile phone users base, with around 118 crore users. A large part of them use feature phones.

“In the first cohort of ‘RBI Regulatory Sandbox’, some innovators had successfully demonstrated their solutions for feature phone payments, under the theme of ‘Retail Payments’, the central bank said.

“These products, coupled with other complimentary solutions, will facilitate UPI-based digital payment solutions on feature phones to promote wider digitisation. It is proposed to launch a UPI-based payment product for feature phone users.”

The details about the UPI platform for feature phones will be announced “shortly”.

Furthermore, in a second announcement, the central bank has proposed to come up with a simpler process through an “On-device” wallet in the UPI apps for small ticket transactions.

The mechanism will conserve banks’ resources without any change in the experience for the users.

ALSO READ: 5G should be top priority: Mukesh Ambani

Previous Story

Israel extends quarantine length for Omicron patients

Next Story

Hong Kong activist Jimmy Lai convicted for illegal assembly

Latest from Business

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

Canada to lift counter-tariffs on US goods

Canadian Prime Minister Mark Carney has announced that Ottawa will remove its counter-tariffs on US goods covered under the Canada-US-Mexico Agreement (CUSMA), beginning 1 September. The move marks a partial easing of

PM Modi: India poised to lead next tech wave

PM Modi underscored that the country is poised to lead the next wave of digital transformation in 5G…reports Asian Lite News Prime Minister Narendra Modi on Wednesday hailed India’s progress in expanding

India Hits 100GW Solar

The expansion is not only in scale but also in quality, with significant capacity dedicated to high-efficiency modules. Many manufacturers have adopted vertically integrated operations, enhancing quality, reducing costs, and improving resilience
Go toTop

Don't Miss

Congress’ Overblown Promises Ahead of 2024 Polls

The best jiffy moment has always been Aladdin’s magic lamp

US issues record-high 1.4 mn visas to Indians in 2023

The US consular team in India issued over 1,40,000 student