Gupshup.io, a conversational engagement platform, has unveiled a groundbreaking solution that enables UPI payments for feature phone users through its native app called GSPay. This innovative approach allows seamless payment experiences using SMS, eliminating the need for internet connectivity. Leveraging the UPI 123 Pay system introduced by the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), Gupshup.io is making digital payments accessible to a wider audience. In addition, users can conveniently scan QR codes to complete transactions, further enhancing the ease of use.
Expanding UPI Payments Beyond Traditional Channels
Traditionally, UPI payments have relied on internet connectivity, limiting the accessibility for feature phone users. Gupshup.io’s GSPay app breaks these barriers by leveraging SMS as the primary medium for UPI transactions. This breakthrough empowers feature phone users to register for UPI, link their bank accounts, and set UPI PINs, all within the embedded app on their phones. With a simple two-step process, users can initiate payments by entering the mobile number or UPI ID of the payee, the desired amount, and their UPI PIN. Once confirmed, the payment is processed, and the user receives a notification, ensuring a seamless and secure transaction experience.
Language Localization and Strategic Partnerships
Recognizing the linguistic diversity in India, GSPay app supports 12 Indian languages, including English, Hindi, Marathi, Odia, and Assamese, among others. This localization effort enhances user accessibility and promotes wider adoption across various regions of the country. To further expand its reach, Gupshup.io has partnered with Nokia (HMD Global) to integrate GSPay into select Nokia feature phones, extending the benefits of UPI payments to a larger user base.
The Significance of UPI123Pay
The launch of UPI123Pay by the RBI last year played a crucial role in enabling feature phone users to conduct UPI transactions without requiring an internet connection. UPI123Pay simplifies the transaction process into three easy steps, ensuring that more individuals can access digital experiences through their feature phones. This initiative highlights the commitment of the RBI and NPCI to promote financial inclusion and bridge the digital divide.
Driving Financial Inclusion and Fostering Growth
Digital payments in India have witnessed exponential growth in recent years, largely attributed to the success of UPI. However, UPI transaction volumes experienced a slight decline from INR 14.10 lakh crore in March 2023 to INR 14.07 lakh crore in April 2023. Gupshup.io’s GSPay app aims to reignite this growth by extending the reach of UPI payments to feature phone users, enabling a broader section of the population to participate in the digital economy. With PhonePe, Google Pay, and Paytm currently dominating the UPI transaction landscape, GSPay introduces a new contender that aims to foster competition and provide users with more options for secure and convenient digital payments.