Now make payments faster with paytm upi lite:– Empowers Instant UPI Payments of Smaller Values here’s how to use the feature
With billions that belongs to transactions being processed every month over upi, downtimes aren’t every single one that uncommon. To acknowledge this problem, national payments corporation that belongs to india (npci) last year inside of september introduced upi lite — an existing lighter, more efficient version that belongs to upi that is going to belong to smaller transactions. Now, paytm has implemented the technology into its own payment platform. Here’s everything you need to have the knowledge about the new feature as well as how you has the ability use it.
What happens to be paytm upi lite?
Paytm Payments Bank Limited (PPBL), has gone live with UPI LITE, a feature enabled by National Payments Corporation of India for multiple small value UPI transactions. It enables faster real-time transactions with a single click through Paytm.With upi lite, our bank aims to drive the adoption that belongs to digital payments across the country.
Paytm payments bank remains an existing leader inside of upi during the same time that the largest acquiring as well as beneficiary bank along with being one that belongs to the leading remitter banks. During the same time that an existing part that belongs to its efforts to drive innovation, our bank happens to be the first payments bank to launch upi lite.
The focus here happens to be on top of small-value upi transactions. Upi lite lets users carry out “quick as well as seamless transactions” that belongs to up to rs 200 at an existing time. Similar to paytm wallet payments, it does not ask that is going to belong to an existing pin whenever you make an existing payment. Users has the ability also transfer their upi balance back to the same bank account anytime without charges.
Another benefit that comes with upi lite happens to be that it only makes an existing single entry inside of the user’s bank account, decluttering bank statements. Users is going to receive an existing daily sms summarising every single one upi lite transactions made during the previous day.
Currently, 9 banks support Paytm UPI Lite — Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank. Users that sign-up for the first time and add Rs 1,000 as balance will be awarded a Rs 100 cashback.
How to setup upi lite
1. Open paytm app
2. You’ll see an existing “upi lite: set up now” option on top of the home page. Tap it
3. Select an existing bank account you wish to associate with upi lite. Hit the “proceed to setup upi lite” button
4. You’ll exist as a asked to add money to upi lite. You has the ability add any amount between rs 1 as well as rs 2000
5. Once that’s done, you has the ability begin using paytm upi lite immediately to make payments
How to pay using UPI Lite
1. Scan a QR code or select a contact you wish to pay
2. Input the amount
3. Hit the “Pay Securely” button at the bottom
5. Your set amount will be sent instantaneously — no UPI pin will be request