What is UPI 123 payment?

UPI 123PAY is an instant, secure payment system designed for feature phone users, enabling them to access the Unified Payments Interface (UPI) service without an internet connection. Launched in 2022, it helps include approximately 400 million feature phone users in the digital economy. Users can undertake transactions through four alternatives, including Interactive Voice Response (IVR) calls, missed calls, or app functionality on feature phones.