UPI123Pay :
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It is a UPI based payments solution for feature phones which can be used without internet.
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It is designed to improve the options for feature phone mobile users to access the UPI platform.
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Under the new UPI123Pay system, feature phone users will be required to go through an onboarding process where they have to link their bank account to their feature phone and then set a UPI PIN using their debit card for authenticating transactions.
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After this process, users will be able to use the new UPI facility for person-to-person as well as merchant transactions. They would also be able to undertake operations like mobile recharge, EMI repayment, balance check, among others.
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The new system offers four distinct payment options that don’t require an internet connection. Interactive Voice Response (IVR), app-based functionality, missed call facility and proximity sound-based payments.
M-PESA:
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It is Africa’s leading mobile money service.
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It do not use the internet for financial transactions.
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M-PESA operates across the Democratic Republic of Congo, Egypt, Ghana, Kenya, Lesotho, Mozambique and Tanzania.