CURRENT AFFAIRS : BANKING & FINANCE
Punjab National Bank launched IVR Based UPI Solution – UPI 123PAY
- Punjab National Bank (PNB) has become the first public sector bank to introduce an Interactive Voice Response (IVR)-based Unified Payment Interface (UPI) solution – UPI 123PAY, aligning with the Digital Payment Vision 2025 towards a cashless and cardless society.
What is UPI 123PAY?
- Unified Payments Interface (UPI) is a 24-hour payment channel enabling customers to perform fast, encrypted and real-time payments.
- So far, the solution was accessible only through smartphones or through Unstructured Supplementary Service Data (USSD) service and was dependent on good internet connectivity.
