UPI Lite is a characteristic enabled by Nationwide Funds Firms of India (NPCI) for quicker, a number of small-value UPI funds, the corporate mentioned. UPI Lite permits a consumer to do immediate transactions of as much as Rs 200.
After PhonePe, Vijay Shekhar Sharma-promoted Paytm Funds Financial institution on Wednesday, Might 10, mentioned it has gone dwell with Paytm UPI Lite on iOS platforms.
UPI Lite is a characteristic enabled by Nationwide Funds Firms of India (NPCI) for quicker, a number of small-value UPI funds, the financial institution mentioned.
Paytm Funds Financial institution was the primary funds financial institution to go dwell with UPI Lite on the Paytm Tremendous App and already has virtually six million customers.
As soon as loaded, UPI Lite permits a consumer to do immediate transactions of as much as Rs 200, making all the expertise safe and seamless. A most of Rs 2,000 will be added twice in a day to UPI Lite, making the cumulative every day utilization as much as Rs 4,000, it mentioned.
Paytm UPI Lite is secured by Paytm’s 3-level bank-grade safety. To supply comfort, particular person funds made by way of UPI Lite usually are not proven within the financial institution passbook, providing a clear financial institution assertion with solely a single entry for including a UPI Lite stability.
At present, 13 banks help Paytm UPI Lite — Paytm Funds Financial institution, ICICI Financial institution, Canara Financial institution, Central Financial institution of India, HDFC Financial institution, Indian Financial institution, Kotak Mahindra Financial institution, Punjab Nationwide Financial institution, State Financial institution of India, Union Financial institution of India, and Utkarsh Small Finance Financial institution.
(Edited by : Shoma Bhattacharjee)
