PhonePe has announced that it is planning to launch the Integrated Payment Interface (UPI) solution for new feature phones users in India. Digital Payments and Financial Services Company highlighted that its upcoming payment solution would be made on NPCI’s UPI 123Pay technology. The service will be made on the GSPA Tech Stack of the interactive engagement platform Gupshap, and the company plans to offer support for basic UPI facilities on the feature phone. However, Seva said that it can take some quarters before the UPI service starts in the country.
The UPI solution of PhonePe for feature phone is built on GSPAY
One in Press releaseThe company announced that it had bought the intellectual property (IP) of GSPAY Technology Stack, owned by the Guptas. PhonePe will now customize this platform and create its UPI solution on top of it. In particular, Gupashp launched GSPAY as an SMS-based payment experience for feature phones in 2023.
PhonePe highlighted that GSPAY has been created according to National Payments Corporation of India (NPCI) UPI 123Pay Service launched in 2022 Till then RBI Governor Shaktikanta Das. Now, the company plans to construct its UPI solution by expanding the GSPAY’s technology stack.
UPI 123Pay is a real -time UPI solution that does not require internet service, designed for feature phones and users with limited connectivity. It provides four transactions methods consisting of an interactive voice response (IVR) number, app-based service, missed call-based approach and a sound-based proximity payment system.
The company’s UPI solution will also offer a wide distance facilities. This person-to-person (P2P) will support transfer, offline QR code-based payment, and it will allow users to receive funds for their mobile numbers of self-QR code from other UPI users. phonepe It has been said that this solution is aimed at creating a “feature phone and smartphone interoperability” in India.
Exposing the scope of UPI solution, PhonePe quoted industry figures, according to which 24 million feature phones were users in 2024. Apart from this, 15 million feature phone shipments are also expected in the next five years, the company said. “This section of users is historically outlined by the digital financial industry and comprehensive startup ecosystem,” said Sameer Nigam, the co-founder and CEO of the phone.