Punjab National Bank launches digital payments with IVR-based UPI resolution, know how it works
Punjab National Bank: In a groundbreaking transfer, Punjab National Bank (PNB) has develop into the primary public sector financial institution to introduce an IVR-based UPI resolution, enabling customers to make digital payments by means of characteristic telephones. With the launch of UPI 123PAY, PNB goals to create a cardless and cashless society in line with its digital imaginative and prescient for 2025.
The UPI 123PAY IVR-based resolution empowers characteristic telephone customers to leverage the advantages of UPI payments, even with out web entry. Previously, UPI transactions had been restricted to smartphones or USSD platforms, requiring web connectivity. However, PNB’s revolutionary strategy now permits customers to make real-time payments by means of UPI 123PAY on any characteristic telephone, bridging the digital divide in areas with restricted web connectivity.
The proven fact that a good portion of PNB’s buyer base lives in rural and small cities and round 63 p.c of branches are positioned in these areas which will increase the importance of this initiative. The MD & CEO of Punjab National Bank claims that almost all of people in these places nonetheless make a good portion of their transactions in money. With 63 p.c of PNB’s branches catering to rural and small city populations, the introduction of UPI 123PAY holds immense potential for reworking the fee panorama in these areas.
To avail themselves of UPI 123PAY, customers merely have to dial the IVR quantity 9188-123-123 from their telephones. Following the immediate, they will choose the beneficiary and authenticate the transaction, all whereas having fun with the comfort of a number of language help.
Importantly, this initiative isn’t restricted to PNB clients alone. The MD emphasizes that UPI 123PAY extends its advantages to people with out smartphones or web connectivity, thereby offering a complete fee resolution. This service is accessible nationwide, empowering customers throughout India to make seamless payments.
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