Recently, Paytm launched UPI lite, the lightning fast UPI payment that never fail.
With UPI lite you can make payments without entering your UPI PIN. UPI lite enables payments of up to ₹200 in one tap.
With Paytm UPI LITE, individuals can easily and swiftly conduct transactions of up to Rs 200 at a lightning-fast pace. The experience is extremely convenient and hassle-free, as users are not required to enter UPI PIN for each transactions. Additionally, users can transfer their UPI balance back to their bank account without any fees, making the process even more seamless.
Once loaded, a UPI LITE wallet allows a user to do instant transactions of up to ₹200, making the entire experience quick and seamless. A maximum of ₹2,000 can be added twice in a day to UPI LITE, making the cumulative daily usage up to ₹4,000.
Paytm UPI LITE enables users to conduct a high volume of small-value UPI payments at a rapid pace, without being limited by a cap on the number of bank transactions. This results in a stress-free payment experience, as users can effortlessly make multiple transactions without any hindrance.
UPI LITE, created by the National Payments Corporation of India (NPCI), was introduced by the Reserve Bank of India in September 2022. This system simplifies the bank passbook by eliminating small-value transactions, which are instead displayed exclusively in the Paytm balance and history section.
With UPI lite, a single money transfer entry is recorded in the user’s bank account, simplifying bank statements. Customers will now receive an SMS from the bank on a daily basis, containing a history of all UPI LITE transactions conducted during the previous day.
UPI lite supported banks
Currently in February 2023, only nine banks support Paytm UPI LITE — Canara Bank, Central Bank of India,HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank.
“As pioneers of QR and mobile payments, we have taken UPI to every nook and corner of the country. We are proud to launch UPI LITE as a step forward in our commitment to payments that are scalable and never fail. With Paytm UPI, payments never fail, transactions are superfast and you don’t see clutter in your bank statement.” Paytm payment bank spoke person.
To drive adoption, the Paytm is offering ₹100 cashback to users for activating UPI LITE and adding ₹1,000 as balance.
In this article I have tried my best to share information about Paytm UPI lite. I hope this helpful for you to use Paytm UPI lite, the lightning fast UPI payment without entering UPI PIN. Kindly share it with others on your social media.
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