The government has now decided to put off the requirement for a debit card to generate a UPI fee ID, imparting a lift to make Unified Payments Interface (UPI) the maximum nicely-favored digital fee choice and extend its penetration for the duration of the country. Starting on March 15, 2022, users can check in for UPI using the OTP they got on the registered cellular quantity related to their Aadhar Card.
It was once possible to create a UPI ID best in case you own a debit card. All account holders with an AADHAAR Card will now have get right of entry to to UPI ID’s features, even supposing they don’t have a debit card.
By connecting their Unique Identification Authority of India (UIDAI) with the National Payments Corporation of India (NPCI) thru their banks, customers can take gain of UPI.
There are millions of people with bank accounts who haven’t received a debit card and weren’t given access to UPI’s advantages. This action will eliminate the obstacle of a debit card for owners of such accounts.
You must use the same mobile number that is linked to both your bank account and your Aadhar card in order to register for UPI without a debit card.
The Reserve Bank of India (RBI) on Tuesday announced the launch of a special feature for payments with a facility allowing those with feature phones to also use the UPI platform, pointing to a greater uptake of digital transactions in the country’s regions where the majority of residents still do not own smartphones.
This function, known as UPI123Pay, will enable payments using feature phones without an internet connection.
The deadline for enrolling in UPI utilizing Aadhaar OTP, which was originally set by NPCI to terminate on December 15, 2021, has now been extended till March 15 due to banks’ lack of readiness.