PNB Introduces IVR-Based UPI Solution: UPI 123PAY
State-owned Punjab National Bank (PNB) has announced the launch of UPI 123PAY, an IVR-based UPI solution. This offering is in line with the Digital Payment Vision 2025, aiming to propel India towards a cashless and cardless society.
The Unified Payments Interface (UPI) has revolutionized the way transactions are conducted in India, offering customers a seamless, secure, and real-time payment experience. However, until now, UPI services were primarily accessible through smartphones or USSD, relying on robust internet connectivity.
PNB recognized that this limitation prevented users without smartphones or residing in low internet connectivity zones from accessing UPI services. To address this issue, PNB has introduced UPI 123PAY, an IVR-based UPI solution.
Using UPI 123PAY 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, catering to customers in their preferred language. This feature aims to provide enhanced convenience and accessibility to a wider range of users.
Apart from PNB, IDFC First Bank, City Union Bank, and NSDL Payments Bank have also implemented IVR-based payment solutions. This demonstrates the growing acceptance and adoption of IVR technology in the banking sector.
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