Upi Lite: Digital Payments Without Entering Upi Pin, Transaction Limit of Rs. 500 Possible in a Day
Pune, 10th June 2024 – In a bid to streamline digital transactions, the National Payments Corporation of India has introduced UPI Lite, a feature within the UPI app, enabling users to make payments without entering their UPI PIN. This feature comes as a boon for smartphone users who find entering the PIN cumbersome, particularly for small transactions. UPI Lite serves as an online wallet within the UPI app and is compatible with Google Pay and the BHIM app. It is specifically designed for low-cost payments.
UPI Lite imposes certain transaction limits to ensure security and efficiency. Users can make transactions of up to Rs. 500 per transaction, and they can add up to Rs. 4000 in a day through multiple payments. However, the wallet can hold only up to Rs. 2000 at once, ensuring prudent financial management.
To utilize UPI Lite, users need to follow a simple procedure. Within the Google Pay app, they can find UPI Lite on the home page. Upon selecting UPI Lite, users have the option to add money from their bank account to the wallet, with preset denominations like 100, 500, 1000, or the maximum amount. After selecting the desired amount, users can proceed to enter their UPI PIN and add the funds to their wallet.
This innovative feature simplifies the payment process for users, especially for small transactions, by eliminating the need to enter the UPI PIN. The option to use UPI Lite appears on the screen during payments through Google Pay, allowing users to make transactions swiftly and conveniently.
In a statement, a spokesperson for the National Payments Corporation of India emphasized the importance of UPI Lite in enhancing the user experience and promoting digital payments. They highlighted its role in facilitating seamless transactions while ensuring security and ease of use. With the growing popularity of digital payments, UPI Lite is poised to become a significant contributor to India’s digital economy landscape.
