Digital payment systems - Rightsofemployees.com https://www.rightsofemployees.com Know Your Rights Sun, 18 Jun 2023 02:48:46 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.rightsofemployees.com/wp-content/uploads/2018/01/cropped-emp1-32x32.png Digital payment systems - Rightsofemployees.com https://www.rightsofemployees.com 32 32 UPI Lite: No tension… You will be able to make UPI payment even without internet, know here what is the method https://www.rightsofemployees.com/upi-lite-no-tension-you-will-be-able-to-make-upi-payment-even-without-internet-know-here-what-is-the-method/ Sun, 18 Jun 2023 04:28:18 +0000 https://www.rightsofemployees.com/?p=18179 UPI Payment: You can keep up to a maximum of Rs 2,000 in UPI Lite. In this, you can make real-time payment up to Rs 200 without UPI PIN. Nowadays it has become very easy to do transactions through UPI Payment. Digital payment systems like Unified Payments Interface (UPI) have brought about a sea change […]

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]]> UPI Payment: You can keep up to a maximum of Rs 2,000 in UPI Lite. In this, you can make real-time payment up to Rs 200 without UPI PIN.

Nowadays it has become very easy to do transactions through UPI Payment. Digital payment systems like Unified Payments Interface (UPI) have brought about a sea change in the way transactions are done. Nowadays, most people choose the option of UPI payment instead of cash payment. We find UPI payment easy because in just a few seconds we can transfer money directly to a merchant’s or any other person’s bank account by scanning a QR code or through a UPI number. Along with this, we do not even feel the need to keep cash.

The growing trend of UPI payments has eliminated the need to use cash in most cases. You can buy small and big things and pay for them in a second.

UPI Lite service will be able to make offline UPI payment

Many times it must have happened to you that you would need to do a transaction through UPI and at that time you would not be able to send money online due to lack of internet. But do you know that you can make UPI payment even without internet. Yes, offline UPI payment can be done through UPI Lite service. UPI Lite provides you partially offline payment service. So let’s know about it….

Digital payment will be easy through pre-loaded money in wallet

UPI Lite service works on BHIM UPI app. It was launched by the National Payments Corporation of India (NPCI) in the year 2016 to make digital payments easier. You must first add money from your bank account to the app’s wallet. Then using UPI Lite, you can make the payment using the money pre-loaded in your wallet. You can follow these steps to access UPI Lite.

  • Most of all install BHIM app on your smartphone.
  • Sign in and add your bank account for UPI transactions.
  • After this, on scrolling down, you will see a UPI Lite banner, tap on it.
  • After this go to the ‘Enable Now’ option.
  • Here now you have to enter the bank account and the amount you want to send to the app.
  • After this enable UPI Lite.
  • After this enter your UPI PIN.
  • After this, as soon as the money is transferred, your UPI Lite e-wallet will be activated. 

Real-time payment up to Rs 200 without UPI PIN

You can keep a maximum of Rs 2,000 in your UPI Lite Wallet. At the same time, you can make real-time payment up to Rs 200 without UPI PIN. In this, you will not need to enter UPI PIN again and again.

These banks are providing UPI Lite facility

At present, there are eight such banks, which are providing the facility of UPI Lite. The list of these banks includes State Bank of India, Punjab National Bank, HDFC Bank, Union Bank of India, Kotak Mahindra Bank, Utkarsh Small Finance Bank and Indian Bank.

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]]> Digital payment systems: Money transferred to wrong UPI ID? can be recovered in this way https://www.rightsofemployees.com/digital-payment-systems-money-transferred-to-wrong-upi-id-can-be-recovered-in-this-way/ Wed, 28 Dec 2022 06:29:06 +0000 https://www.rightsofemployees.com/?p=9064 Digital payment systems like Unified Payments Interface (UPI) have revolutionized the way transactions are done. They have eliminated the use of cash in most cases by allowing one to scan a QR code and transfer the desired amount directly to the bank account. From street vendors to retail chains, UPI is now ubiquitous in India […]

The post Digital payment systems: Money transferred to wrong UPI ID? can be recovered in this way first appeared on Rightsofemployees.com.

]]> Digital payment systems like Unified Payments Interface (UPI) have revolutionized the way transactions are done. They have eliminated the use of cash in most cases by allowing one to scan a QR code and transfer the desired amount directly to the bank account.

From street vendors to retail chains, UPI is now ubiquitous in India because of the ease with which transactions are made. Even after that , due to wrong typing of UPI ID many times the money gets transferred to someone else. What should be done in such a situation so that your money can be recovered?

If wrong UPI ID money has been transferred

By the way UPI is a safe payment system. Even after that, even small mistakes made on your part can cause financial loss. Entering wrong UPI ID and transferring money to someone else’s bank account by mistake are some of the mistakes you might have come across. Most of us panic in such situations, but according to the Reserve Bank of India, you are recovering the money transferred to another account by entering the wrong UPI by taking the right steps.

You can recover your money in this way

  1. RBI says that in case of unintentional transactions through digital services, the aggrieved person should file a complaint in the previously used payment system.
  2. You can take help from the customer care of applications like Paytm, Google Pay and PhonePe and request a refund.
  3. If the payment system fails to resolve your issue, you can approach the Ombudsman for Digital Transactions set up by RBI.
  4. A complaint can be lodged when the payment system does not timely comply with RBI’s instructions relating to payment transactions through UPI, Bharat QR Code and others, such as failure to credit funds to the beneficiaries’ account or failure to comply within a reasonable time. Failure to refund the amount within.
  5. Anyone can file a complaint with the Ombudsman when funds are wrongly transferred to the beneficiary’s account.

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