UPI Lite

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Bapun

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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.

 
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.

 
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