Page 34 - Banking Finance November 2022

ARTICLE

Unstructured Supplementary Service Data (USSD) is d. Proximity Sound-based Payments: This uses sound
technology available for all GSM mobile phones where there waves to enable contactless, offline, and proximity data
is no need of any internet connection is required in order to communication on any device.
use its service. Anyone can access mobile banking services
by just pressing *99# from GSM phone and can check
Digi Sathi- 24×7 Helpline
account balance, obtain mini statement and transfer money
RBI also launched a 24×7 Helpline - 'DigiSaathi'. The 24x7
from one account to another just by entering a simple code
Helpline - 'DigiSaathi' - provides a channel to obtain help on
of Mobile Money Identifier (MMID).But it is not accepted
the entire gamut of digital payments. Automated responses
by the public as it is considered to be incomprehensible.
on information related to digital payment products and
services are available in Hindi and English through multiple
options like - (a) toll-free number (1800-891-3333), (b) a
short code (14431), (c) website - www.digisaathi.info, and
chatbots. DigiSaathi will assist users with their queries on
digital payments via website &chatbot facility and through
toll-free calls where user can dial or call out the options /
products for which the information is required. More
interactive options and language choices shall be enabled
going forward.

So,RBI has come up with another compatible digital banking
product for all the feature phone holders 'UPI123Pay which
will enable them to make electronic payment transactions
by using UPI without having an internet connection also. The
customers will be able to use all other features, except the
scan and pay UPI option available for smartphones. It is
supported by another 24*7 support services 'DigiSaathi' to
address the queries of digital payment users.UPI123Pay
includes four distinct options as below:
a. App-based Functionality: An app would be installed on
the feature phone through which several UPI functions,
available on smartphones, will also be available on
feature phones.
b. Missed Call: This will allow feature phone users to
access their bank account and perform routine
Digital literacy
transactions such as receiving, transferring funds,
Digital literacy means having the skills you need to live, learn,
regular purchases, bill payments, etc., by giving a
and work in a society where communication and access to
missed call on the number displayed at the merchant
information is increasingly through digital technologies like
outlet. The customer will receive an incoming call to
internet platforms, social media, and mobile devices. The new
authenticate the transaction by entering UPI PIN.
multi-channel digital payment product UPI123Pay and
c. Interactive Voice Response (IVR): UPI payment
resolution services - 'digisathi' can make lot of difference in
through pre-defined IVR numbers would require users
transforming the culture of using digital mode at the grassroots
to initiate a secured call from their feature phones to a
level. As the financial services sector in India becomes
predetermined number and complete UPI on-boarding
increasingly competitive to offer financial products to under-
formalities to be able to start making financial
served populations, there is a need to further improve financial
transactions without internet connection.
and digital literacy outcomes to not only ensure the uptake of
34 | 2022 | NOVEMBER | BANKING FINANCE