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Chandigarh: Indian Overseas Bank (IOB) has partnered with Network People Services Technologies Limited (NPST) to roll out UPI 123Pay, a voice-based Unified Payments Interface (UPI) solution designed for India’s 850 million non-UPI users. The system will be implemented in collaboration with MissCallPay, a fintech startup specializing in voice-led payment technologies.
Reaching the Unbanked and Under-Connected
The initiative targets users who either lack smartphones or are not comfortable using digital payment applications. This includes approximately 400 million feature phone users and millions more who face challenges with app-based interfaces or unreliable internet access.
UPI 123Pay aims to democratize digital payments by enabling users to make secure transactions without internet connectivity — using only voice and keypad prompts.
How UPI 123Pay Works
IOB customers will initiate a transaction by giving a missed call to a dedicated number. They will then receive an IVR (Interactive Voice Response) callback, where they can enter the transaction amount and UPI PIN using simple voice or keypad inputs.
The IVR-based system supports 12 Indian languages and allows users to:
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Check account balances
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View the last five transactions
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Raise payment disputes
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Manage and reset UPI PINs
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Resume interrupted transactions
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Handle token-based or token-less payments
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Manage linked bank accounts
Because transactions occur offline, the system reduces exposure to cyber threats and enhances accessibility for rural and low-connectivity areas.
Industry Push for Financial Inclusion
Regulatory bodies such as the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) have been encouraging banks and fintech companies to adopt inclusive digital payment solutions that can bridge the gap between tech-savvy users and the digitally underserved.
Leadership Speak
Deepak Chand Thakur, Chairman and Managing Director, NPST, said the initiative represents a major step toward financial inclusion:
“Voice-based UPI marks a transformative step towards building a truly inclusive digital economy. By extending UPI to feature phone users and individuals less familiar with technology, we are ensuring that digital payments reach every segment of society.”
He added that future enhancements could integrate Agentic AI capabilities to enable conversational payments through voice assistants like Alexa and Google Assistant.
“This will redefine how people engage with money — making digital payments simple, human, and universally accessible,” Thakur said.
A Step Toward a Truly Digital Bharat
The launch of UPI 123Pay underlines India’s commitment to inclusive fintech innovation, ensuring that even those without smartphones or internet access can benefit from the convenience and safety of UPI payments.
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