Paytm Cash Back: Paytm Payments Bank Limited launched its UPI Lite service in February. This service saves the users from the hassle of repeatedly entering UPI PIN for money transactions. To reach out to people, Paytm is offering Rs 100 cashback to all users under the offer. You can read the information about how this scheme can be availed and what are the benefits of this service.
Features and Benefits of Paytm UPI Lite
- Paytm UPI Lite is a payment system that can transfer UPI PIN without money.
- Payment with Paytm UPI Lite is completed in one click, so there is no need to follow multiple steps.
- UPI Lite never fails even if the bank server is down during the transaction.
- It is a 3-level bank-grade secure technology. So that fraud can be avoided.
- Instant payment of Rs 200 can be made with a single tap on UPI lite.
- A maximum of Rs 2,000 can be transferred at a time.
- A maximum of two transactions of Rs 2,000 can be done.
- A total of Rs 4,000 transactions can be done on Paytm Lite in 24 hours i.e. in a day.
- Payments made through Paytm UPI lite are not reflected in the bank passbook.
- Entry in bank passbook is done only after adding money to UPI lite balance.
Paytm UPI Lite how to activate it on phone
- First of all install Paytm app on your phone. If there is an old app, update to the latest version.
- On the homepage, you will see the option of ‘UPI Lite’ or tap on the search option.
- Here you will see a list of banks eligible for UPI Lite, select your bank from it.
- Proceed with the bank account you want to link with Paytm UPI Lite.
- Now you have to verify the mobile number registered in the bank account, so click on the OK button to send the SMS to the phone.
- After verification through SMS, you have to add money to your bank’s UPI Lite.
- Click on Add Money to UPI Lite option and enter your bank money in UPI Lite wallet.
- Remember that only a maximum of Rs 2000 can be added at a time.
- As soon as you add money, your Paytm UPI Lite will be activated and you don’t need to enter UPI PIN for next UPI payment.
- Your bank statement or passbook will only show the transactions done by you to add money to the UPI Lite WALLET. Payment will not be recorded in this wallet.
UPI Lite supported banks
- State Bank of India
- Punjab National Bank
- Union Bank of India
- Canara Bank
- Central Bank of India
- Indian Bank
- HDFC bank
- Kotak Mahindra Bank
Utkarsh Small Finance Bank
UPI Lite can currently link accounts from the above 9 banks. Currently these banks support Paytm UPI Lite, but this list may increase in the coming days.
