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What is a key characteristic of the UPI 123PAY service?
- a)Not available for fund transfers
- b)Works without a smartphone
- c)Requires internet access
- d)Limited to card transactions
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is a key characteristic of the UPI 123PAY service?a) Not availabl...
Key Characteristic of UPI 123PAY
UPI 123PAY is a unique service designed to enhance digital payment accessibility in India, especially for users without smartphones. The correct answer to the question regarding its key characteristic is option 'B': it works without a smartphone.
How UPI 123PAY Works
- UPI 123PAY allows users to make transactions using basic mobile phones, such as feature phones.
- This service is particularly beneficial for people in rural or semi-urban areas where smartphone penetration is low.
Key Features
- No Smartphone Required: Users can access UPI services without needing a smartphone, which makes digital payments more inclusive.
- Multiple Payment Options: It supports various payment methods, including missed calls and SMS, allowing users to initiate transactions easily.
- Enhanced Accessibility: By providing a platform for users without advanced technology, UPI 123PAY bridges the digital divide, promoting financial inclusion.
Other Characteristics
- Internet Access Not Required: Unlike traditional UPI methods, UPI 123PAY does not require a constant internet connection, making it more accessible.
- User-Friendly: The service is designed to be simple and easy to use, catering to individuals who may not be tech-savvy.
In summary, UPI 123PAY is a significant step towards making digital transactions accessible to everyone, particularly those without smartphones, thereby promoting broader financial inclusion in India.
UPI 123PAY is a unique service designed to enhance digital payment accessibility in India, especially for users without smartphones. The correct answer to the question regarding its key characteristic is option 'B': it works without a smartphone.
How UPI 123PAY Works
- UPI 123PAY allows users to make transactions using basic mobile phones, such as feature phones.
- This service is particularly beneficial for people in rural or semi-urban areas where smartphone penetration is low.
Key Features
- No Smartphone Required: Users can access UPI services without needing a smartphone, which makes digital payments more inclusive.
- Multiple Payment Options: It supports various payment methods, including missed calls and SMS, allowing users to initiate transactions easily.
- Enhanced Accessibility: By providing a platform for users without advanced technology, UPI 123PAY bridges the digital divide, promoting financial inclusion.
Other Characteristics
- Internet Access Not Required: Unlike traditional UPI methods, UPI 123PAY does not require a constant internet connection, making it more accessible.
- User-Friendly: The service is designed to be simple and easy to use, catering to individuals who may not be tech-savvy.
In summary, UPI 123PAY is a significant step towards making digital transactions accessible to everyone, particularly those without smartphones, thereby promoting broader financial inclusion in India.
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What is a key characteristic of the UPI 123PAY service?a) Not availabl...
UPI 123PAY is designed to facilitate digital payments without the need for a smartphone, making it accessible to a wider audience, including those who may not own advanced devices.
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What is a key characteristic of the UPI 123PAY service?a) Not available for fund transfersb) Works without a smartphonec) Requires internet accessd) Limited to card transactionsCorrect answer is option 'B'. Can you explain this answer? for Bank Exams 2025 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about What is a key characteristic of the UPI 123PAY service?a) Not available for fund transfersb) Works without a smartphonec) Requires internet accessd) Limited to card transactionsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Bank Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is a key characteristic of the UPI 123PAY service?a) Not available for fund transfersb) Works without a smartphonec) Requires internet accessd) Limited to card transactionsCorrect answer is option 'B'. Can you explain this answer?.
What is a key characteristic of the UPI 123PAY service?a) Not available for fund transfersb) Works without a smartphonec) Requires internet accessd) Limited to card transactionsCorrect answer is option 'B'. Can you explain this answer? for Bank Exams 2025 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about What is a key characteristic of the UPI 123PAY service?a) Not available for fund transfersb) Works without a smartphonec) Requires internet accessd) Limited to card transactionsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Bank Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is a key characteristic of the UPI 123PAY service?a) Not available for fund transfersb) Works without a smartphonec) Requires internet accessd) Limited to card transactionsCorrect answer is option 'B'. Can you explain this answer?.
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