“Google Pay Introduces UPI Lite for Quick and Convenient Small Value Transactions”
Following in the footsteps of Paytm and PhonePe, Google Pay has now introduced UPI Lite, a feature that allows users to make quick and convenient small value payments. With UPI Lite, Google Pay users can complete one-click UPI transactions without the need to enter their UPI PIN, streamlining the payment process.
Following in the footsteps of Paytm and PhonePe, Google Pay has now introduced UPI Lite, a feature that allows users to make quick and convenient small value payments. With UPI Lite, Google Pay users can complete one-click UPI transactions without the need to enter their UPI PIN, streamlining the payment process.
UPI Lite, which enables faster transactions of up to Rs 200, functions by utilizing a Lite account that does not rely on the real-time core system of the issuing bank. Users can load their Lite account with up to Rs 2,000 twice a day and make payments of up to Rs 200 without the hassle of entering the UPI PIN. Google emphasizes that UPI Lite reduces clutter in the user’s bank passbook by reducing the number of transactions displayed.
To activate UPI Lite on Google Pay, users can follow these simple steps. Firstly, open the Google Pay app and navigate to the profile page. Then, select the “activate UPI Lite” option and complete the linking process as prompted. Once the UPI Lite feature is activated, the default transaction mode for payments up to Rs 200 will be set as UPI Lite. Users can then make payments by simply tapping on “Pay PIN-Free” without the need for additional authentication.
It is important to note that users can only add funds up to Rs 2,000 to their UPI Lite account, with a maximum transaction limit of Rs 4,000 per transaction. In the event of a lost device with an active Lite account and balance, users can approach their bank to request a refund of the remaining balance to their bank account. However, if a user changes their mobile device, the Lite balance will not be transferred automatically. In such cases, the user should disable the Lite account on the old device and then enable a new Lite account on the new device.
The UPI Lite feature was initially launched by the Reserve Bank of India in September 2022 with the aim of simplifying UPI transactions. Enabled by the National Payments Corporation of India (NPCI), UPI Lite is supported by 15 banks, including HDFC Bank Ltd, ICICI Bank, Indian Bank, Kotak Mahindra Bank, Punjab and Sind Bank, Punjab National Bank, State Bank Of India, Axis Bank Ltd, Canara Bank, and others.
With the introduction of UPI Lite, Google Pay aims to provide users with a more seamless and efficient payment experience, particularly for small transactions. As digital payment platforms continue to evolve, the adoption of features like UPI Lite enables users to conduct transactions with greater ease and convenience.
Sources By Agencies
About The Author
