Punjab National Bank (PNB) has announced the launch of UPI 123PAY, an IVR-based Unified Payments Interface (UPI) solution, as part of its commitment to India’s Digital Payment Vision 2025. This innovative offering aims to drive the nation towards a cashless and cardless society by providing a seamless and secure payment experience to individuals who do not have smartphones or access to reliable internet connectivity.
The UPI has significantly transformed transactional experiences in India, offering customers real-time, secure, and convenient payment solutions. However, traditional UPI services were predominantly accessible through smartphones or USSD, relying on strong internet connectivity.
Recognizing the limitations imposed by this requirement, PNB has introduced UPI 123PAY, an IVR-based UPI solution. Users can simply dial the bank’s easy-to-remember IVR number, “9188-123-123,” to initiate transactions. They can then choose the beneficiary and authenticate the transaction, making it accessible to a broader range of users.
One notable feature of UPI 123PAY is its multilingual support, catering to customers in their preferred languages. This enhancement aims to provide greater convenience and accessibility to users from diverse backgrounds.
PNB’s introduction of UPI 123PAY aligns with the growing acceptance and adoption of IVR technology in the banking sector. Other institutions, such as IDFC First Bank, City Union Bank, and NSDL Payments Bank, have also implemented IVR-based payment solutions, showcasing the increasing recognition of IVR as a reliable and user-friendly payment channel.