We are required to authenticate a payment to complete the transaction irrespective of the fact you are using UPI, banking cards or anything else. However, UPI is getting more popular day by day and is a go-to payment method for most shopping needs. From buying fruits and vegetables to grocery and street food everyone today offers the option to make payment via UPI.
This is where the trouble of enticing PIN every time even for small transactions starts surfacing. This also gets annoying at times.
What if there’s a way to make small payments without any PIN? It would be pure convenience, right?
This is where the UPI Lite comes in handy. There are several benefits of it. For instance, the small Rs 18 transactions do not show up in the statement. Second, it does not require users to enter a PIN for every transaction till a certain amount. And, most UPI apps support UPI Lite.
In this how-to guide, we’ve explained everything from getting started with UPI Lite to transaction value and limit. Read on:
UPI Lite: Explained
UPI Lite is an on-device wallet that allows users to quickly make payments of up to a certain value with the need of a PIN. This also helps in faster transactions as well as reduces the load on the bank as well.
Transaction limits for UPI Lite
Users can transfer smaller values of up to Rs 200 at a time using UPI Lite. It lets users add up to Rs 2,000 twice a day. This means users can add and spend up to Rs 4,000 per day.
Also, there’s no additional fee application for transactions. And, there’s no KYC required.
The biggest plus is once it is enabled, UPI Lite will become the default payment option for all transactions of Rs 200 or less.
List of UPI Lite-supported banks
- AU Small Finance Bank
- Axis
- Bank of India
- ICICI
- Indian
- Kotak
- SBI
- South Indian Bank
- Union
Setting up UPI Lite for PIN-free transactions
Steps
Paytm
- Download the Paytm app, if you don’t have it already
- Open the app and click on UPI Lite icon
- Choose the bank account eligible for UPI Lite.
- Enter the amount you wish to add to UPI Lite to activate UPI Lite account
- Authenticate it using MPIN
- Your UPI Lite account is now set up and you can make payments with just one tap
GPay
Open GPay and select the eligible bank account that supports UPI Lite
Authenticate the payment and you are all set to make PIN-free payments on GPay.
BHIM UPI
- Open BHIM UPI app, select UPI Lite
- Then choose one of the eligible accounts, enter the amount (up to Rs 2,000)
- Add the money to enable UPI Lite
Other UPI apps
Enabling UPI Lite is more or less similar in almost all UPI apps that support UPI Lite. Just open the app, and look for the UPI Lite banner or option. Tap on it, add money and you are all set to use the app without PIN for up to Rs 200 transactions.
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