UPI 123 pay

Question 1

what was relesed by RBI governor to perform UPI transactions on feature phones(button phones)

Answer 1

UPI123pay was relesed by the RBI

Question 2

Approx , how many feature phone users are there in India?

Answer 2

40 crores

Question 3

How many steps are to followed by feature phone users to perform the transaction?

Answer 3

3-step process

Question 4

what are the salient features of UPI 123pay?

Answer 4

It allows UPI transactions on feature phones without internet connections via 4 methods

customers can link bank accounts , set or change UPI pin

Question 5

How ways can a feature phone user perform transactions on UPI123pay?

Answer 5

4 methods

Question 6

what are the four methods through which users can perform UPI transactions on feature phones ?

Answer 6

A)Missed call method ,
B)IVR, interactive voice response,predessesor was 99# USSD
C)through App
D)proximity sound based payments

PAMI- code to remember these methods

Question 7

What is the draw-back of app method?how does the missed call method work?

Answer 7

The app method- the users cannot access scan and pay feature
The person will have to give missed call to a number,which he must obtain from the merchant and then an incoming call will be sent to his mobile

Question 8

what is UPI , when was it launched and with how many banks

Answer 8

UPI- Unified payments interface , launched in 2016,with 21 member banks, 304 banks available on UPI as of now.

distinguishing feature of UPI-it performs transactions without revealing the the bank account details of the user to the other party.

Question 9

who launched UPI, when was that organisation formed?

Answer 9

NPCI-National payments corporation of India

2008;

Question 10

NPCI is an initiative under which entities, where is its HQ?

Answer 10

Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007;

Mumbai

Question 10

NPCI ( national payment corporation of india) is an initiative under which entities, where is its HQ?

Answer 10

Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007;

Mumbai

Question 11

What is digi saathi, who launched it ?

Answer 11

Digi saathi is a 24*7 helpline for digitaI payment grievance.
It was launched by RBI and NPCI
it can be accessed either through www.digisaathi.info or call 14431 or 1800 891 3333

Question 12

Which UPI app is developed by GOI?

Answer 12

BHIM–(Bharat Interface for Money )