Introducing UPI Lite, a payment method that eliminates the need for a PIN or an internet connection

UPI Lite

On September 20, Reserve Bank of India Governor Shaktikanta Das introduced Unified Transfers Interface (UPI) Lite in an effort to speed up low-value UPI payments.

Describe UPI Lite

Users will be able to make small-value payments up to Rs 200 in real time utilizing this on-device wallet capability without the need for a UPI PIN. Users must contribute money to the UPI Lite wallet from their bank accounts. Since it is an on-device wallet, users won’t require the internet to make a real-time payment. Currently, only wallet debits are allowed, and all credits to UPI Lite—including refunds—go straight to your bank account.

Limit on transactions for UPI Lite

The National Payments Corporation of India (NPCI) announced that Rs 200 has been fixed as the maximum amount that can be paid. According to the NPCI website, users will not require a UPI PIN to conduct payments under Rs 200. According to the press release, an on-device wallet’s total UPI Lite balance cap would always remain at Rs 2,000.

On the day UPI Lite launched, Union Bank of India also released a press release stating that users could conduct an infinite number of transactions each day.

Is it possible to utilize UPI Lite offline?

UPI Lite will conduct transactions in almost offline mode during the first phase of its adoption. This means that while credit payments into the account will be made using the internet, debit payments can be made without online connectivity. However, UPI Lite is anticipated to go completely offline in the future, enabling the processing of debit and credit payments.

What will the users get from it?

Users will benefit from the new interface’s practical solution for straightforward and quick low-value transactions. Customers won’t have to risk losing money anymore. Customers will also benefit from zero transaction failure, even during peak hours.

How do I add money?

Users must have internet access and utilize AFA or UPI AutoPay, which has been set up by the user in online mode with AFA, in order to add money. The money can only be added online.

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