HDFC Life and National Payments Corporation of India (NPCI), have collaborated to offer the first – UPI 123PAY. This is a unique voice-based premium payment service that further simplifies the premium payment process for HDFC Life policyholders.
UPI 123PAY is a payment facility through a pre-defined IVR (Interactive Voice Response). This platform will enable customers to make financial transactions with or without an internet connection.
Customers can avail of this service in various regional languages such as Hindi, Marathi, Gujarati, Punjabi, Kannada, Tamil, etc.
The process is very simple – a customer has to initiate a secure call from their phone using the UPI number 080 4516 3571 and complete the UPI onboarding formalities. Once this is done, they can start transacting. This service will also empower those policyholders of HDFC Life who are not accustomed to digital payments, thereby enabling them to take control of their policies with a single IVR call.
Vineet Arora, Chief Operating Officer, of HDFC Life said, “The UPI 123Pay service will enable policyholders across the country to make payments through this IVR-based service in a secure manner, with ease.”
A voice-based payment feature, UPI 123PAY was developed by the National Payments Corporation of India (NPCI) and launched by the Reserve Bank of India (RBI) to increase the digital penetration of financial services.
UPI 123PAY enables smartphone and feature phone users to digitally undertake a host of transactions based on four approaches, including voice payment based via IVR number, proximity sound-based payments, missed call-based payment approach, app-based scan and pay on a feature phone.