UPI Lite feature now available on Paytm, make payments without UPI PIN

UPI is one the most used mode of payment in India due to ease of use and convenience. Millions of users rely on the digital payments method for their day to day transactions. Although UPI payments usually take a couple of seconds, the experience can be really frustrating with poor internet connectivity. UPI payments can also be done offline but that method is also quite lengthy. As around 75% of the total volume of retail transactions (including cash) in India are below Rs 100 transaction value, the Reserve Bank of India (RBI) rolled out UPI Lite feature that allows users to make near offline UPI transactions without any PIN up to Rs 200 from a UPI app. Although the feature was announced by RBI in last year, it was not available in any of the major UPI apps but the features now live for Paytm Payments Bank users.

Paytm users can now use the UPI Lite feature right through the app. "Once loaded, a UPI Lite wallet allows a user to do instant transactions of up to Rs 200, making the entire experience quick and seamless. A maximum of Rs 2,000 can be added twice in a day to UPI Lite, making the cumulative daily usage up to Rs 4,000," it said in a release. The payments done via UPI Lite will be only visible in the Paytm balance and history section, and not in the bank passbook.

Replenishment of funds in UPI Lite is only be allowed in online mode with additional factor authentication (AFA) or using UPI AutoPay which has been registered by the User in online mode with AFA. At present, only debit from UPI Lite balance is permitted and all credits to UPI Lite (including refunds, etc.) will be processed online in the User’s bank account maintained in the bank’s core banking system.