In the ever-evolving landscape of digital payments, the Unified Payment Interface (UPI) has emerged as a pivotal payment system, facilitating transactions even in the absence of an internet connection. Now, a streamlined version called UPI Lite has arrived, simplifying the payment process further. UPI Lite enables users to conduct transactions of up to Rs 500 without the need for a PIN, expanding upon the previous limit of Rs 200. This enhancement in transaction convenience is primarily geared toward small transactions and is now available on Paytm. To enjoy this feature, it must be activated within the Paytm app.
Understanding UPI Lite’s Transaction Limit
In a recent Monetary Policy Committee meeting, RBI Governor Shaktikanta Das announced a vital change aimed at enhancing digital payments accessibility, particularly in remote regions. The UPI Lite transaction limit was raised from Rs 200 to Rs 500. Users can now complete transactions of up to Rs 500 seamlessly, without requiring an internet connection or a PIN. In contrast, UPI wallets allow a maximum addition of Rs 4,000 per day. UPI Lite is compatible with various apps like PhonePe, Google Pay, and Paytm. To activate UPI Lite on Paytm, follow these straightforward steps.
How to Activate UPI Lite on Paytm
Launch your Paytm app.
Locate the UPI Lite option on the home page.
Choose the bank account for UPI Lite.
Specify the desired amount for your UPI Lite transaction.
Enter your MPIN.
Your UPI Lite functionality is now enabled. With just one tap, you can conduct transactions up to Rs 500 without the need for a PIN.
Increased UPI Adoption in Rural Areas
Last month, both the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) decided to raise the UPI Lite transaction limit with the goal of expanding UPI’s reach in the country’s rural areas.
