PNB UPI 123pay: Punjab National Bank (PNB) becomes the first public sector bank to introduce an IVR-based UPI solution – UPI 123PAY, aligning with the Digital Payment Vision 2025 towards a cashless and cardless society.

What is UPI 123PAY

Unified Payments Interface (UPI) is a 24-hour payment channel enabling customers to perform fast, encrypted and real-time payments. Till now, the solution was accessible only through smartphones or through Unstructured Supplementary Service Data (USSD) service and was dependent on good internet connectivity. The UPI 123PAY solution would extend the functionality and facilitate the feature to any phone users and those in low internet connectivity zones to perform UPI transactions.

“India’s large population resides in rural and semi-urban areas. Such a population still depends on cash for their daily needs. With approximately 63% of our branches being located in the rural and semi-urban areas, PNB, has a huge customer base in the remote regions of the nation. To facilitate such people, who do not have access to smartphones or internet connectivity, we are pleased to introduce the functionality of UPI 123PAY. It will enable EVERYONE with ANY phone to make PAYMENTS through UPI from ANYWHERE in INDIA. The functionality is also available for non-PNB customers.” MD & CEO, PNB, said.

How to use UPI 123PAY

The UPI 123PAY functionality is simple and involves the following steps:

Step 1-Dial the bank’s easy-to-remember IVR number “9188-123-123″

Step 2-Choose the beneficiary

Step 3-Authenticate the transaction

UPI 123PAY will be multilingual and be available in the customer’s preferred language.

IDFC First Bank, City Union Bank & NSDL Payments Bank have gone live on IVR payments.

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