Indian Overseas Bank to Roll Out Voice-Based UPI 123Pay for 850 Million non-UPI Users

Indian Overseas Bank (IOB) has chosen Network People Services Technologies Limited (NPST) to set up UPI 123Pay, a voice-based Unified Payments Interface system. The project will be executed in association with MissCallPay. As per the news reports, the service is to make digital payments available to people who do not use standard UPI apps or smartphones.

Target User Base

The system is expected to cover nearly 850 million people in India who have not yet adopted UPI. This includes about 400 million feature phone users and a large number of smartphone users who are not comfortable using mobile apps for financial transactions.

How It Works

UPI 123Pay allows users to make payments without the internet. A user gives a missed call to a designated number and receives a call back through an Interactive Voice Response (IVR) system. The user then enters the payment amount and UPI PIN through voice or keypad inputs. Transactions are completed offline, which helps in areas with limited connectivity.

System Features

The IVR platform supports 12 Indian languages and provides access to multiple banking services. Users can check account balances, view the last five transactions, raise disputes, and manage their UPI PINs. The system also allows users to resume interrupted transactions and supports both token-based and tokenless payments.

Inclusion and Access

The introduction of this system aligns with the goal of increasing access to digital payments among users with limited digital literacy. Regulators have encouraged banks and fintech firms to develop payment tools that function without internet dependence, expanding the reach of UPI in rural and remote areas.

Read More: Indian Overseas Bank Removes Minimum Balance Charges on SB-Public Accounts!

Indian Overseas Bank (IOB) Share Price Performance 

As of November 7, 2025, 3:30 PM, Indian Overseas Bank share price closed at ₹39.60, a 2.27% increase from the previous closing day.

Conclusion

With UPI 123Pay, Indian Overseas Bank and NPST will offer a payment method that operates entirely through voice calls, enabling users without smartphones or internet access to make digital transactions securely.

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