UPI 123Pay: The four-leaf clover for feature phone-based payments in India?
UPI broke all records in August 2023. It observed 10.586 billion transactions that amounted to INR 15 trillion (~USD 189.64 billion). It has become the preferred payment choice for digitally-savvy Indians. However, it cannot reach the feature phone users. Its penetration is limited to urban segments with high usage of smartphones and mobile Internet. India is home to 400 million feature phone users. These users have limited avenues for digital transactions. They largely depend on physical access points for financial transactions. This blog discusses an innovative offline payment solution, UPI 123Pay, and its immense potential to bring digital payment convenience to the underserved segment.
Oct 10, 2023
The evolution of payments in India—looking ahead
The previous blog discussed the state of India’s digital payments ecosystem. This blog looks at where and how it may evolve further.
Sep 29, 2022
Graham Wright, Akshat Pathak, Disha Bhavnani, Shweta Menon and Diya Chatterjee
Sep 29, 2022
Graham Wright, Akshat Pathak, Disha Bhavnani, Shweta Menon and Diya Chatterjee
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