PhonePe launches UPI 123Pay for feature phone users without internet

•PhonePe launches UPI 123Pay for feature phone users, allowing internet-free payments across India.

•The service targets 200 million feature phone users, supporting person-to-person transfers and merchant payments.

•UPI 123Pay comes pre-installed on select Nokia, HMD, Lava, and Itel feature phones, using an SMS-based system.

•PhonePe processed 11 billion UPI transactions in July, accounting for 45.89% of total volume.