UPI Lite

[Bapun]

Two months after the Reserve Bank of India (RBI) floated a framework for facilitating small digital payments in offline mode, India's flagship payments processor has designed an on-device wallet for Unified Payments Interface (UPI) transactions up to Rs 200.

UPI Lite will initially launch as a pilot with multiple apps and banks.

A balance of up to Rs 2,000 can be maintained in the wallet which can be reloaded only in the online mode through a two-factor authentication process, the letter said.

National Payments Corp prepares on-device wallet to debut UPI Lite for small offline transactions

UPI Lite for transactions up to Rs 200 will happen in two phases

www.moneycontrol.com

 

[Prithi Deb]

This will help avoiding the deadly stares from the Bank employees while updating the Passbook.

https://twitter.com/x/status/1503401446447886339

Source

 

[OnlyTech]

UPI Lite enables users to make small payments of up to Rs. 200 using a feature phone without requiring an active internet connection or PIN.

UPI Lite, Bharat BillPay Cross-Border Bill Payments, RuPay credit card on UPI launched by RBI

 

[Bapun]

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.

Additionally, with UPI LITE, users can carry out a large number of small value UPI payments in a superfast manner without worrying about cap on the number of bank transactions. This makes way for a hassle-free payments experience.

Paytm Payments Bank Becomes the First Payments Bank to Launch UPI LITE — Empowers Instant UPI Payments of Smaller Values

Our associate Paytm Payments Bank Limited (PPBL), has gone live with UPI LITE, a feature enabled by National Payments Corporation of India for multiple

paytm.com

 

[OnlyTech]

UPI Lite was launched by the Reserve Bank of India (RBI) in September 2022.

Paytm Payments Bank launches UPI Lite to enable faster small value transactions

 

[Bapun]

The Reserve Bank of India on Wednesday announced an increase in the total wallet limit for UPI Lite from Rs 2,000 to Rs 5,000. The offline transaction limit has risen from Rs 500 to Rs 1,000, effective immediately.

RBI Increases UPI Lite Wallet Limit To Rs 5,000, Offline Limits To Rs 1,000

RBI's decision to raise the UPI Lite wallet limit to Rs 5,000 and offline transaction limit to Rs 1,000 is part of its efforts to promote digital payments in low-connectivity environments.

www.ndtvprofit.com