India, Nov. 6 -- Network People Services Technologies Limited (NPST), a digital banking and payments technology provider, has secured a mandate from Indian Overseas Bank (IOB) to implement UPI 123Pay,a voice-based Unified Payments Interface (UPI) solution designed to support both feature phone users and smartphone users less familiar with digital transactions.

India continues to have a significant segment of the population outside the UPI ecosystem, an estimated 850 million individuals, including around 400 million feature phone users and a sizeable number of smartphone users who are not comfortable with app-based interfaces. To bridge this gap, the Reserve Bank of India has encouraged banks, regulated entities, and fintech firms to adop...