UPI payments just got easier for users of digital payment platform PhonePe. In fact, PhonePe has announced that it has made the UPI Lite feature live on its app ie.
Now users can easily make payments up to Rs.200 without entering UPI PIN. Recently, digital payment and financial services company Paytm also started this feature.
Rahul Chari, co-founder and chief technology officer, PhonePe, said, “UPI Lite is a core part of the UPI Stack offering, which aims to enhance the digital payments experience for users for frequent and low-ticket-sized spends Is. Is. Overall, small transactions form a major part of UPI payments and UPI Lite will make them faster and more convenient without putting pressure on the existing UPI infrastructure.
Features of UPI Lite feature
UPI Lite was launched in September 2022 by Reserve Bank of India (RBI) Governor Shaktikanta Das to make low-value UPI payments faster and easier. With UPI Lite, you can easily do many small daily transactions with a single click. UPI Lite Wallet users can get one time load of Rs. Allows up to 200 instant transactions. No PIN will be required for transactions up to Rs 200. This will make the payment process easier and faster. In this only a maximum of 2 thousand rupees can be added at a time.
How to activate UPI Lite feature in PhonePe?
open phonepe appOn the home screen of the app, users will get the option to enable UPI Lite. User can select the bank account to be linked in UPI Lite by entering the amount. The UPI Lite account will be successfully activated once you enter the UPI PIN.
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