PhoneP has announced that it is planning to launch a unified payment interface (UPI) solution for feature phone users in India. The company of digital payments and financial services highlights that its upcoming payment solution will be made on NPCI’s UPI 123 pay technology. The service exchange platform will be built on GSP Tech stack of gossip, and the company plans to offer assistance for the features of basic UPI on feature phones. However, Service said it could take a few quarters before the UPI service launches in the country.
Phone PE’s UPI solution for feature phones is made on GSP
In a press release, the company announced that it had purchased the intellectual property (IP) of the GSP Technology Stack, the proprietary GSP Technology Stack. The phone PE will now customize this platform and develop its UPI solution in the upper part. Specifically, Gupash launches GSP in 2023 as a SMS -based payment experience for feature phones.
The phone drink highlighted that the GSPA National People’s Corporation of India (NPCI) was constructed in accordance with the UPI 123 Pay Service, which was launched in 2022 by the then RBI Governor Shaktikanta Das. Now, the company has planned to build its UPI solution by expanding the GSP technology stack.
UPI 123 is a real -time UPI solution that does not require Internet service, designed for feature phones and limited contact users. It offers four methods of transaction, including interactive voice response (IVR) number, app -based service, miss -based approach, and sound -based proximity payment system.
The company’s UPI solution will also offer extensive features. It will support the personality transfer, offline QR code -based payments, and will also allow users to receive money from other UPI users in their mobile number self -QR codes. The phone said the purpose of this solution is to develop a “ability to interfere with the” feature phones and smartphone users in India. “
The company added that highlighting the scope of the UPI solution, PhoneP quoted industry data, according to which there were 24 million feature phone users in 2024. Additionally, the delivery of 15 million feature phones is also expected in the next five years. “This section of consumers has historically reduced the digital financial industry and wider startup ecosystem,” said Sameer Nigam, co -founder and CEO of Phone PE.
