look news india
What is UPI Lite: The new rules for doing UPI through Google Pay, PhonePe, Paytm have come into effect from November 1. NPCI has increased the transaction limit for UPI Lite. Besides, auto top-up feature has also been introduced for the wallet. The special thing about UPI Lite is that through it you can make UPI payment even without PIN and password. UPI payment is known as the most preferred payment for Indian users. Last year, India had created a new record in UPI payments.
What is UPI Lite?
You can keep a maximum of Rs 2,000 in the UPI Lite wallet and transact up to Rs 500 at a time. NPCI has launched this service especially for those who use UPI even for small payments. For small payments you can add money from your bank account to the UPI Lite wallet. Once the balance of the first UPI Lite wallet is exhausted, it can be recharged manually. NPCI has started its auto top-up feature from 1st November.
As soon as your UPI Lite account balance is depleted, it will be automatically topped up from your bank account. However, the government has imposed another limit for UPI Lite, wherein users can top-up their account a maximum of 5 times a day, up to a total of Rs 10,000.
How to enable UPI Lite?
It is very easy to enable UPI Lite in payment apps like Google Pay, PhonePe or Paytm. For this you have to open these apps and tap on your profile picture icon. As soon as you tap on the profile picture icon, you will see the option of PIN Free UPI Lite at the bottom. After this follow the instructions given on the phone screen and activate the UPI Lite service.