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.
It’s a significant step towards simplifying remittances as a functionality, as individuals residing overseas will now be able to conveniently transfer money to a beneficiary by simply adding their UPI IDs, without having to remember their bank account details
The guaranteed cashback has no minimum transaction requirement and can be claimed on the first five payments through the app.
This is aimed at cutting out the middlemen in the delivery of monetary provisions, subsidies and incentives so that it rules out pilferages and reaches the targeted individuals without any loss in the process.
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