Ministry of Finance has informed that more than 37,000 users joined UPI123Pay since its launch on 8th March 2022.
In this regard, the Reserve Bank of India (RBI) has been facilitating engagements for the expansion of Unified Payments Interface (UPI) in countries which have potential for collaboration.
Currently, BHIM UPI QR has gained acceptance in Singapore (March, 2020), Bhutan (July, 2021) and recently with partners in UAE and Nepal (February, 2022). However, travel restrictions owing to the pandemic over the last two years have impacted overseas use of this facility.
RBI had launched two key initiatives ‘UPI123Pay’ to make UPI payments for feature phone users along with ‘DigiSaathi’, a 24×7 Helpline to address the queries of digital payment users across products.
Further, the performance of UPI123Pay launched in March 2022 is as follows:
|As on 21st march, 2022|
|Successful transactions value (Rs In lacs)||79.15|