UPI Lite simplifies digital payments in India further by offering a PIN-less payment option for small transactions.
UPI has made digital payments in India much easier, allowing users to make instant payments by simply entering a phone number or scanning a QR code. For every UPI payment made, even for low-value transactions, the bank sends an email and message, and the transaction is also recorded in the passbook. This is why setting up UPI Lite makes a lot of sense, as it even simplifies the already easy-to-use UPI payments.
UPI Lite is an on-device wallet from the National Payments Corporation of India (NPCI), and it is much simpler to use. It lets users make quick payments of up to Rs 500 at a time, with the wallet capable of holding a maximum balance of Rs 2,000. Unlike regular UPI payments, UPI Lite transactions don’t require a PIN for authentication, thereby reducing the payment failure rate – something that’s been an issue with UPI.
