Paytm Payments Bank goes live with UPI Lite for small value transactions

Paytm Payments Bank has gone live with UPI Lite, thus enabling its customers to experience hassle free UPI payments, without keying in the pin every time they make payment upto Rs 200.

UPI Lite is a feature enabled by National Payments Corporation of India (NPCI) for multiple small value UPI transactions. With UPI LITE, users can carry out a large number of small value UPI payments without worrying about the bank cap on UPI transactions.

Payments made using UPI Lite will de-clutter the passbook of Paytm Payments Bank users and these small value transactions would now show in the Paytm balance and history section. According to NPCI, users will receive a daily transaction history of all the payments made through UPI LITE as an SMS from their banks.

Having been the first to bring UPI LITE to users, we are now excited to enable our Bank account holders to link their accounts with UPI LITE. With this, users can pay with UPI LITE for lightning fast payments that never fail, said a Paytm Payments Bank spokesperson.