India is Getting a Voice-Based Digital Payment Solution: MissCall Pay; What Can Nepal Learn From it?


The world is getting ahead with digitization. From digital wallets to digital banking, many companies are providing digital services. The governmental authorities are also serving digital services. In Nepal too, we are using various digital services as a user like digital payments, digital access and submission of forms, online request of services, digital banking, and more.

While saying this, such services are more convenient for the people who are digitally literate and who use smartphones at most. However, a large chunk of the population that is illiterate and not tech-savvy remains left behind. To ease such users, Nepal has also got a USSD based payment system named as NamastePay. However, it didn’t go well with the user’s acceptability. This service still requires wider acceptance.

Let’s talk about India. How are they simplifying digital payments?

In India too, a large group of population (more than 550 million) uses feature phones. Keeping that in the record, a new startup in India has launched a new digital wallet which is for feature phone users.

The digital payment system is MissCall Pay. It aims to bring convenient solutions to the Indian Populations. Mostly, this service is for feature phone users such that it would promote digital inclusion in India.

You can transfer payments to merchants through just a missedcall; here’s how

Misscall Pay is an innovative idea that uses missed calls in order to make payments. It makes UPI-based mobile payments that are ultra-simple over a feature phone, smartphone, or voice bot. UPI stands for Unified Payments Interface which links peer-to-peer transfer of funds.

MissCall Pay

MissCallPay is introducing voice-based digital payment solutions to India’s neglected rural and urban populations, many of whom use feature phones or are digitally illiterate.

MissCallPay uses phone-as-a-token authentication, a patented feature to make an ultra-simple and secured digital payment solution for the masses.

Also Read: How to get started with Namaste Pay? Know about the transaction limits as well

How do you make payments through Misscall Pay?

MissCallPay is a payment network that allows India to go cashless, making mobile payments easier for those who aren’t computer savvy. To make a payment, the user does not require a smartphone, a mobile app, or access to the internet. The business has created a payment system that is simple enough for feature phone users and digitally illiterates. You can transfer payments through the MissCall Pay system by simply dialing a MISS CALL to your merchant.

The users in India can follow these simple steps to transfer payments through Misscall Pay.

  • You can dial miss call to your merchant
  • Then your merchant calls back to you
  • After that, the amount to be paid is already known to the merchants and they will ask for the PIN
  • Then, submit the PIN and finish your payment

Payments through Misscall Pay is free for the users; Merchants also get to pay lesser

Misscall Pay is providing the services to the users for free. It means you do not need to pay transaction fees. On the other hand, the merchants can also subscribe to this service at a nominal price. As per the talk with MissCall Pay’s CEO Mr. Mitesh Thakkar, the maximum charge for the merchants is INR 200 per month only.

At present, this service is under review by the Reserve Bank of India (RBI). The system is in beta testing version and will launch soon for public usage within the beginning of 2022.

Back story of MissCall Pay; How did it start?

MissCallPay is a fintech start-up established in Bhuj in Gujarat state of India that wants to focus on financial inclusion and digital payments among the public. At the time of demonization in India, this idea rose up as a solution in digital payments. Mitesh Thakker, a serial entrepreneur and Design Thinker, came up with the MissCallPay concept. He has 21 years of experience selling, marketing, and developing IT products, as well as six patents.

To protect feature transactions, the business uses its unique Phone-as-a-token authentication mechanism. Global heavyweights US-NIST and Gartner regard phone-as-a-token to be the future of authentication, and MissCallPay is the proud winner of the Bill Gates Global Grand Challenge for feature phone payment.

MissCall Pay is the winner of the Bill Gates Grand Challenge for feature phone payments in 2020.

It became one of the Top-50 finalists for social impact innovation at IIGP 2018, India Innovation Growth Program 2.0. In addition to that, it is funded by Angel investors at present. The company has traction from various banks and Merchants to enable India’s first voice-based payment for the masses.

MissCall Pay is Simplifying Digital Payments; What can Nepal Learn from it?

While most of the digital services target only tech-savvy users, the rest of them do not get to enjoy them fully. In such cases, systems like MissCall Pay are making digital payments easier. They care about making such services accessible to the people who do not use up-to-date devices like smartphones. In Nepal too, many people still use feature phones. Services through a missed call can surely benefit this segment of users.

At present, the banks provide missed call services where you can perform limited activities. You can check for balance, open your account, and request mobile banking through a missed call. However, the transfer of funds directly is not easy yet. Nepal Telecom along with the collaboration with Rastriya Banijya Bank launched Namaste Pay which allowed transferring payments through feature phones. However, people are not really used to it.

At present, feature phones are still in use. In the urban areas too, people who handle many businesses use feature phones to segregate their communication with customers and clients. This shows that feature phones are still in demand in the Nepali market. In this case, we can learn from start-ups like MissCall Pay and upgrade our existing products according to the user demand and the need of time.


About Author

Hi, I am a postgraduate student of Economics, stock market enthusiast, an occasional storyteller and a habitual reader.

Leave A Reply