Paytm’s parent company One 97 Communications Limited (OCL) on Monday said it has rolled out the UPI Lite auto top-up feature for its UPI users.
New Delhi: The use of Unified Payment Interface (UPI) has increased rapidly in the country. At the same time, the government also takes several steps from time to time to promote it. In this sequence, to make UPI payment easier, Paytm, a fintech company owned by One97 Communications, has launched a new feature. Through which users will be able to avail the benefits of UPI payment even without a PIN.
UPI Lite Auto Top-up feature launched
Paytm’s parent company One 97 Communications Limited (OCL) on Monday informed that it has launched the UPI Lite Auto Top-up feature for its UPI users. With the help of the new feature, users using Paytm UPI Lite will be able to recharge the pre-determined UPI Lite balance automatically and make small amount payments up to Rs 500 seamlessly without a PIN, while the daily payment limit of Paytm UPI Lite is Rs 2000.
Can make payment without PIN
Let us tell you that the Reserve Bank of India (RBI) launched the UPI Lite feature in September 2022 to facilitate low amount transactions. UPI Lite works like a wallet, allowing transactions up to Rs 500 to be done easily without a PIN. The maximum balance that can be kept in the UPI Lite wallet is Rs 2,000. Through Paytm UPI Lite, users can make transactions without PIN for payment at grocery stores, payment for transport, small bill payments. It helps in maintaining a clutter-free bank statement. Because regular payments are made through on-device wallet instead of bank account.
How does the UPI Lite top-up feature work
Let us tell you that UPI Lite users can set a minimum balance. After this, whenever the balance of the UPI Lite wallet is less than the amount set by you, it will be automatically reloaded from your bank account. However, the limit of the UPI Lite wallet cannot exceed Rs 2000 and it can be reloaded only five times a day.
