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UPI Lite

Bapun Raz

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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.

 
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