UPI 123 Pay Limit: The Reserve Bank of India (RBI) has simply recently raised the transaction prohibit for UPI 123Pay from Rs 5,000 to Rs 10,000. But have you ever learnt what UPI 123Pay is? UPI 123Pay is a set of choices designed for non-smartphone and have phone clients, enabling them to utilize UPI corporations with out internet entry.
Transactions under UPI 123Pay are free of price. Adding further, A UPI PIN is a 4-6 digit passcode that you simply simply create all through your preliminary registration by the use of the cell app, IVR, or one different channel. This UPI PIN is required to authorize all monetary establishment transactions.
The enchancment made throughout the RBI’s Statement on Development and Regulatory Policies on October 9, 2024, targets to strengthen the digital charge experience for attribute phone clients all through India.
Notably, the National Payments Corporation of India (NPCI) confirmed this variation in a spherical dated October 25, 2024, with a compliance deadline set for January 1, 2025. Customers can select a language from the report provided to them whereas using UPI 123PAY. Here is the report of accessible languages: English, Hindi, Kannada, Tamil, Bengali, Malayalam, and Telugu.
UPI 123Pay: Payment Methods
UPI 123Pay permits every smartphone and have phone clients to hold out quite a few digital transactions by the use of 4 useful methods: voice charge by means of an IVR amount, proximity sound-based funds, missed call-based charge decisions, and an app-based scan-and-pay attribute for attribute telephones.
UPI 123Pay: Customers Can’t Link Multiple Accounts
The prospects can’t have quite a few monetary establishment accounts on UPI 123PAY. If the patron wishes in order so as to add one different account, then they should de-register the current checking account after which add one different checking account.
How To Link Bank Account with UPI 123PAY?
Step 1: Dial the UPI 123PAY service amount provided by your monetary establishment or UPI service provider.
Step 2: Choose your hottest language from the obtainable decisions.
Step 3: Select the selection to register or hyperlink your checking account.
Step 4: Input your debit card data as prompted, along with the ultimate six digits and expiration date.
Step 5: Create a secure UPI PIN for transactions and ensure it.
Step 6: Your checking account is now effectively linked with UPI 123PAY, enabling UPI transactions.
