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UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

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2 min read Last Updated : Sep 23 2022 | 9:49 PM IST

Reserve Bank of India Governor Shaktikanta Das launched Unified Payments Interface (UPI) Lite on September 20, in a bid to make low-value UPI payments faster.

What is UPI Lite?

It is an on-device wallet feature that will allow users to make small-value payments of up to Rs 200 in real time, without using a UPI PIN. Users will have to add funds from their bank accounts to the UPI Lite wallet. For a real-time payment, users will not need the internet as it is an on-device wallet. At present, only debit from wallet is permitted and all credits to UPI

Topics : BS Web Reports UPI Unified Payment Interface digital payment wallet digital payment Online Payment Payment UPI transactions NPCI

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