Tata Capital launches payment facility, UPI 123PAY for feature phone users

Tata Group's financial services arm Tata Capital on May 10 announced that it will offer UPI 123PAY digital payment facility, the company said in a release. 

It is an instant IVR-based payment system,  which is developed by NPCI, and is powered by ToneTag VoiceSe, to make secured transactions through feature phones as well as smartphones.

Tata Capital Limited, a financial services provider, caters to the diverse needs of a variety to customers which include retail, corporate, and institutional.

UPI 123PAY will be useful, especially for payments of low-value and microfinance customers. The facility will be made available in a phased manner and will be rolled out initially in six states namely Karnataka, Uttar Pradesh, Bihar, Odisha, Rajasthan, and Tamil Nadu. It will be made available in five languages, the company said. 

For customers having restricted or limited access to internet connectivity and smartphones, this new payment system can become a preferred option. This digital payment facility includes a three-step procedure- call, choose and pay.

How to access UPI 123PAY?

Step 1: Dial the IVR number from their registered mobile number

Step 2: Choose your preferred language

Step 3: Choose UPI linked bank account, set up a UPI pin

Step 4: Make the payment

Commenting on the initiative Abonty Banerjee, Chief Digital and Marketing Officer at Tata Capital, said, "It has always been our endeavour to provide all possible servicing and payment solutions to customers to choose from, and enable them to use the ones most suited to them. This IVR-based payment option which also works on feature phones is likely to see greater adoption from our microfinance customers as well as those who have limited access to connectivity. We believe this will make payments more convenient for these customers."