In August 2023, transactions using the Unified Payments Interface (UPI) surpassed 10 billion in volume and reached a total value of INR 15.18 trillion, as reported by data from the National Payments Corporation of India (NPCI).
This marks a remarkable year-on-year increase of over 50 per cent. To provide context, in August 2022, there were 6.58 billion monthly transactions. UPI came very close to reaching the 10 billion milestone in July, with 9.96 billion transactions, following a slight sequential decline in June. Given the significant transaction volume in a country that primarily relied on cash and traditional forms of exchange just over a year ago, it’s unsurprising that a disruption in network services can pose a threat to businesses relying solely on UPI payments. This concern becomes even more pronounced as we, as Indians, have grown accustomed to using UPI payments in nearly every aspect of our lives – from grocery stores and restaurants to fuel stations.
This situation can be problematic, especially if you’ve just made a purchase at a store or enjoyed a meal at a restaurant without carrying any cash. However, there’s no need to fret, as recent advancements now enable offline UPI payments as well.
How to pay through UPI using offline mode?
Payment can be facilitated not only through UPI but also via cards and various other online methods. To initiate this process, you'll need to utilize a specific code. When you dial this code, it won't initiate a call but will instead trigger a flash message on your screen. The code in question is *99#, which provides you with seven available options.
The USSD code *99# serves as a versatile tool for conducting various banking transactions without requiring an internet connection. It offers a convenient means to make payments and access essential banking services.
Upon dialling *99# on your phone, you will be presented with seven options:
Fund transfer: This option enables you to transfer money to another bank account
Balance inquiry: Use this option to check your account balance
Mini statement: View your recent transactions with this feature
Bill payment: Pay your utility bills, credit card bills, and other invoices through this option
Prepaid recharge: Recharge your mobile phone, DTH, and data card with this selection
Loan status: Check the status of your loan application with this choice
Other services: Access additional banking services like setting up recurring payments or blocking your card.
To utilize *99#, simply dial the code on your phone and follow the on-screen instructions. You will be prompted to enter your bank account number, MPIN, and any other necessary details.
To select your desired purpose, enter the number associated with that option and send it. The initial choice is for sending money, so in this scenario, type “1” and send it. Subsequently, you will be presented with five additional options.
Following are the steps for sending money through UPI using *99#:
- Dial *99# on your phone
- Choose the “Fund Transfer” option
- Select “UPI”
- Enter the recipient’s UPI ID
- Input the amount you wish to send
- Provide a reason for the transfer
- Enter your UPI PIN
Your money will be successfully transferred.
However, while using *99# for UPI transactions, ensure you have correctly entered the recipient's UPI ID and the correct amount. The recipient's UPI ID should be associated with the same bank as yours. Also, you must possess a valid UPI PIN. Apart, maintain a sufficient balance in your bank account.
While UPI is a secure method for money transfer, it's essential to practice caution when conducting online transactions. Here are some safety tips for using UPI:
- Only use UPI apps and websites from reputable sources
- Do not share your UPI PIN with anyone
- Be vigilant against phishing emails and text messages requesting your UPI PIN
- If you suspect your UPI PIN has been compromised, change it immediately.
The following detailed instructions will walk you through the process of making offline UPI Payments. The upper transaction limit for this service is ₹5000, and a nominal charge of ₹0.50 per transaction applies. This fee is cost-effective considering that it allows you to conduct transactions without requiring an internet connection.
