Feature Phones will soon support UPI-based Payments with a transaction limit of Rs 2 lakh to Rs 5 lakh.
RBI has announced to bring the UPI payment to feature phones.
Earlier this week, RBIGovernor Shaktikanta Das announced to launch the digital payment system for feature phones.
Millions of people still use feature phones in India, so that it will be beneficial for them.
5 Lakh for UPI payments for RBIs Retail Direct scheme.
Das also announced three proposals to further deepen digital paymentsand make it more interesting.
One of the proposals was to launch UPI-based payment for feature phones.
2 Lakh to Rs.
And as per TRAI data, India has 300 million feature phone users who can avail the UPI-based services.
Currently, there are no UPI apps that support feature phones.
For this, the users should dial *99# and make transactions through the menu on their phones.
This service was first introduced for BSNL and MTNL networks but later expanded to other networks.
In 2016, the government introduced USSD 2.0 alongside BHIM, with all UPI options.
But the service didnt help to boost the digital transactions.
