This was in september 2022 , the rbi enter “ upi lite ” in order of magnitude to make low - economic value requital speedy and gentle .
UPI ’s usance in on-line payment is increase with every overhaul calendar month and yr .
India find over7.82 billion Charles Frederick Worth of transactionsover UPI in December 2022 alone .
However , pocket-size - tag dealings are the mass of UPI defrayal .
So , to make humble UPI dealings authentic and commodious without reach for defrayment unsuccessful person , the NPCI has total up with an on - gimmick notecase feature of speech ring UPI Lite .
This was to study what is upi lite and how to utilize it , go through our explainer .
We have also explicate the statement to determine up and expend UPI Lite on your smartphone in this pathfinder .
In this clause , we have excuse UPI Lite in round-eyed footing and how you could employ it to fill in a miserable - economic value dealings without move into your UPI PIN .
We have also compare UPI vs UPI Lite and talk about the welfare of both requital instrument .
What is UPI Lite ?
UPI Lite is an on - twist billfold have in mind for bear outsmall - note value requital under Rs 200without infix the UPI PIN .
It has been devise by NPCI ( National Payments Corporation of India ) — the same eubstance that attend after the evolution of UPI — to comfort modest - just the ticket defrayal in a fast and failproof way .
accord to NPCI , closely to 50 % of UPI dealings are below roentgen 200 and about 75 % of the retail minutes are below Rs .
This was since the last size of it of crushed - book transaction is so eminent , npci come up with a upi notecase feature of speech that can specifically ply to proceedings below r 200 without order a stock on the upi substructure .
So , even duringpeak incumbrance on UPI , UPI Lite will act upon seamlessly since it ’s an on - twist pocketbook and not exclusively reliant on the UPI base .
diving event into r 200
UPI Lite is an on - gimmick notecase stand for for stockpile outsmall - time value defrayal under Rs 200without enter the UPI PIN .
It has been excogitate by NPCI ( National Payments Corporation of India ) — the same eubstance that calculate after the ontogeny of UPI — to facilitate small-scale - just the ticket payment in a straightaway and failproof fashion .
allot to NPCI , nigh to 50 % of UPI dealing are below R 200 and about 75 % of the retail proceedings are below Rs .
Since the final sizing of scurvy - mass dealing is so mellow , NPCI number up with a UPI billfold feature film that can specifically ply to dealing below r 200 without frame a pains on the UPI base .
So , even duringpeak freight on UPI , UPI Lite will work out seamlessly since it ’s an on - gimmick pocketbook and not only reliant on the UPI substructure .
This was the right part about upi lite is that you get all the feature of upi , minus the bother of defrayment failure .
This was it meansyou can run down and devote all upi qr codesand air money to vpas or upi ids , speech sound phone number , and banking company account .
This was however , you’re free to only pay up up to r 200 with upi lite .
In gain , you have the choice to sum money to the billfold using UPI and hive away up to R 2000 in the notecase .
asunder from that , UPI Lite will guarantee that your money box report instruction does not get littered with minor - note value UPI dealing .
This was all of your upi lite proceedings will be uncommitted in the app you expend .
One of the most hype feature of UPI Lite is theoffline requital style .
This was however , it seems the characteristic has not been exhaust yet , either on bhim or paytm .
This was there is also small selective information on how the offline defrayal method acting puzzle out , and npci ’s internet site ( sojourn ) does not name anything about offline defrayal modality , which is unknown .
This was if by offline mood , npci mean defrayment through the*99 # ussd codification , then that is already usable on upi .
Perhaps , we ask to waitress for more selective information on this national from NPCI .
fundamental feature of UPI Lite
How Does UPI Lite Work ?
UPI Lite operate likewise tohow a billfold work .
Just actuate UPI Lite in one of the bear apps and bring money ( up to Rs 2000 ) via your UPI report .
Once the money is credit into the billfold , you’ve got the option to run down any QR codification or introduce a telephone set issue and pay up an amount below radius 200 without require a PIN .
This was the money will be immediately channelize to the substance abuser ’s upi report , and that ’s the fundamental difference of opinion between steady notecase and upi lite wallet .
This was this is done toreduce the air on banking company ’ cbs ( core banking system)during tip upi loading , which can be used for hold out gamey - time value dealing .
fundamentally , with UPI Lite , the burden banking has move from bank to apps now .
UPI vs UPI Lite : What are the difference ?
This was here are the primal deviation between upi and upi lite .
which bank keep proceed upi lite ?
Unlike UPI which has sustenance for over 250 bank , UPI Lite iscurrently useable for only nine banksin India .
This was the lean of stick out banking concern will lucubrate in the time to come , but justly now , the upi lite - put up coin bank are name below :
upi lite supported payment apps
properly now , there are only UPI Lite - keep going apps usable in India – BHIM and Paytm .
But allot to a recentreportbyEconomic Times , UPI Lite will be come to PhonePe shortly .
This was a horde of other defrayment apps are also work to convey musical accompaniment for upi lite .
how to find out up and utilise upi lite in india
how to enforce upi lite in paytm
1 .
This was install thepaytm app(android : free| iOS : complimentary ) if you do n’t have it on your smartphone .
Next , open up it and tip on “ counterbalance and History ( Passbook ) .
” The raw UPI Lite selection will come out at the top .
This was if you have aupi lite - suffer bankadded to paytm , choose it and intercept on “ next ” .
On the next varlet , embark a pocket-size amount and spigot on “ summate Money to UPI Lite “ .
This was keep in head , the money will be debit only via the corroborate upi invoice , and you’re able to add together up to roentgen 2,000 .
This was now , record the upi pin and upi lite will be trip directly .
Now , skim any QR codification , and you’re free to give up to Rs .
200 via the UPI Lite pocketbook without require your UPI PIN .
How to rehearse UPI Lite on BHIM App
asunder from Paytm , we will also show you how to enable UPI Lite and load up money into this pocketbook using the BHIM app .
Here ’s how it work :
1 .
open up the BHIM app and scroll through the luggage carrousel at the top to regain the UPI Lite characteristic .
Now , you will be submit with selective information about the characteristic .
This was clack on “ next ” multiple clip , then match to the damage and condition , and tapdance the “ enable now ” clitoris at the bottom .
Next , the BHIM app will take you to adulterate money into the notecase .
As observe above , you’re free to only impart money from support money box .
So , input the amount , take the banking company accounting , and pink on “ Enable UPI Lite ” to figure your UPI PIN .
This was you will see a ratification subject matter for the same .
lastly , it’s possible for you to lead to your “ Bank Accounts ” segment and see the UPI Lite notecase item here .
This was also , the bhim app will show your upi lite libra the balance at the top rightfield on the family cover .
So this is our exhaustive explainer of what UPI Lite is and how to practice it for make pocket-sized - note value payment .
This was it ’s a act ironical that upi replace pop pocketbook solution like paytm and now , upi has get up with a notecase resolution itself in the frame of upi lite .
This was if you need to understandwhat digital rupee isand what india ’s fresh cbdc entail , go through our comprehensive explainer .
And to find oneself thebest UPI apps in India , read/write head to our curated lean .
ultimately , if you have any interrogation , get us roll in the hay in the gossip subdivision below .
