UPI Lite service - 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=6.9.4 https://www.rightsofemployees.com/wp-content/uploads/2018/01/cropped-emp1-32x32.png UPI Lite service - 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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]]> UPI Lite service: Paytm and PhonePe can bring this service soon, payment will be done without UPI pin, this will be the limit https://www.rightsofemployees.com/upi-lite-service-paytm-and-phonepe-can-bring-this-service-soon-payment-will-be-done-without-upi-pin-this-will-be-the-limit/ Thu, 09 Feb 2023 08:05:34 +0000 https://www.rightsofemployees.com/?p=11074 The use of digital payment apps has increased rapidly. People use Paytm and PhonePe to make UPI payments. Now both the companies are working on a new feature. With this, the transaction can be completed without using the UPI PIN. This feature will be very useful in making instant payments. However, the transaction limit can be […]

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]]> The use of digital payment apps has increased rapidly. People use Paytm and PhonePe to make UPI payments. Now both the companies are working on a new feature. With this, the transaction can be completed without using the UPI PIN.

This feature will be very useful in making instant payments. However, the transaction limit can be up to Rs.200 only. It has been claimed in the report that both the companies are in the advanced stage of integrating UPI Lite. The Economic Times has reported about this quoting the source.

Paytm can bring service first

It has been claimed in the report that first Paytm will release UPI Lite service for its app within a month. After this PhonePe will also introduce this service. If this happens, Paytm will become the first third-party app to issue UPI Lite service.

You will get benefit in small transactions

Apart from this, it has also been told in the report that Fintech company Slice is also working to release UPI Lite service on its platform. With this, young customers can complete small amount transactions.

Let us tell you that the UPI Lite service was launched by the Reserve Bank of India last year. This allows users to transfer even low value amounts without internet or UPI PIN authentication. Payment up to Rs 200 has been authorized through the wallet.

NPCI had said in March last year that about 50 percent of the total UPI transactions are of Rs 200 or less. Its integration into third-party platforms will make such transactions much easier. Nothing has been said about this from both the companies.

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