Make Paytm UPI Payments Without PIN Upto ₹200 | UPI Lite is a Digital Account Designed to Facilitate low-value Transactions. This Feature will Make Small Ticket purchases Easier and Faster. The Maximum Transaction Limit for UPI Lite is Rs 200. Paytm, a Market leader, has introduced UPI Lite, which Allows users to Conduct Transactions up to Rs. 200, with a Maximum Cumulative limit of Rs. 4000. Make Paytm UPI Payments Without PIN Upto ₹200 | Paytm Launched Digital Payments on UPI Lite for Seamless UPI Transactions
At any Given Time, the Paytm UPI Lite apphas a Maximum Balance limit of Rs 2000. A maximum of Rs 2000 can be added twice daily to the UPI Lite account. This allows for a maximum daily transaction limit of Rs 4000.
Paytm Makes Single Click Payments Possible with UPI LITE
Users can make as many transactions as they want within the Maximum UPI Lite Transaction limit. A user can load Rs 2000 into the UPI Lite app and use the available balance to conduct transactions until the balance is exhausted. The maximum allowed transaction value is Rs 200. Make Paytm UPI Payments Without PIN Upto ₹200 | Paytm Launched Digital Payments on UPI Lite for Seamless UPI Transactions
As a result, a user can carry out multiple Transactions until the limit is reached. For example, a user may conduct 6 transactions worth Rs 200, 4 transactions worth Rs 150, and 20 transactions worth Rs 10 in a single day, up to and including the Rs 2000 UPI Lite transaction limit.
If the user needs to make more transactions on the same day, they can add another Rs 2000 to their UPI Lite account. Furthermore, UPI Lite simplifies the transaction process by removing the need to enter a 4- or 6-digit PIN.
What is UPI (Unified Payment Interface)
The National Payments Corporation of India (NPCI) developed the Unified Payment Interface (UPI), a real-time payment system that facilitates interbank transactions by instantly transferring funds between two bank accounts via a mobile device.
UPI enables users to link multiple bank accounts to a single mobile application and seamlessly transfer funds between them. Users can also use UPI to pay merchants, pay bills, and recharge mobile phones directly from their bank accounts.
UPI’s key features include 24×7 availability, instant fund transfer, single-click authentication, and interoperability across banks and payment platforms. To ensure the security of users’ financial transactions, UPI also provides advanced security features such as two-factor authentication and transaction limits.
In India, UPI is widely used, with several major banks and digital payment platforms offering UPI-based payment services to their customers. Because of UPI’s success, it has become a popular payment method for both consumers and businesses, making digital transactions more convenient and accessible to all.
We are Excited Happy to Announce the launch of UPI LITE on Paytm Payments Bank. UPI LITE enables users to conduct low-value transactions in a faster, more secure, and seamless manner. UPI LITE will successfully provide a distributed way of Authorizing low value Transactions, Moving them away from core Banking, with more than 50% of Transactions through UPI Below 200 RS. This will increase Transaction Success Rates, improve user experience, and bring us one step closer to processing a billion transactions per day on the UPI platform.
Advantages of Paytm UPI Lite 2023
Paytm UPI Lite is a Updated version of the Paytm UPI interface Designed to offer a Faster and More Streamlined user Experience. Here are Some Advantages of using Paytm UPI Lite:
Faster and Easier Transactions: Paytm UPI Lite offers a simple and user-friendly interface that allows users to complete transactions in just a few clicks, without having to navigate through multiple screens or menus.
Lower Data Consumption: Paytm UPI Lite is optimized to use minimal data and bandwidth, making it ideal for users with slow or limited internet connectivity.
Compatibility: Paytm UPI Lite is compatible with both smartphones and feature phones, allowing users with basic phones to also make seamless UPI transactions.
Improved Reliability: Paytm UPI Lite is designed to provide a more reliable and consistent user experience, even in areas with poor network connectivity.
Enhanced Security: Paytm UPI Lite uses multi-layered security features, including OTP and PIN-based authentication, to ensure that transactions are safe and secure.
Use Without PIN Users do not need to enter a 4 or 6-digit PIN when using UPI Lite, as they would with other payment methods such as debit or credit cards or net banking. This means that users can avoid entering a PIN for small, frequent transactions.
