New Delhi: National Payments Corporation of India (NPCI) has recently launched UPI Lite, which is an on-device wallet, to ease the payment through UPI without any need to use UPI Pin again and again. According to the NPCI Data, more than 90% transactions on UPI were less than Rs 200. Hence, NPCI came up with UPI Lite for small monetary value transactions of less than Rs 200 without UPI Pin. UPI Lite is an on-device wallet that allows to pay small monetary value payment upto Rs 200 through UPI without UPI pin. A user can keep the maximum amount of Rs 2000 in the wallet at any given point of time.
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Currently, the service is available only for 8 banks users. Those who want to avail UPI Lite service, they have to first enable it on BHIM app.
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Here’s the step-by-step guide to enable the UPI Lite on your device:
- Login your Bhim App
- Find the option asking to enable UPI Lite on your device
- Click it and go through terms and conditions
- Fill up UPI Lite wallet with any amount upto Rs 2000 through your linked bank account
- You can’t use Debit and Credit card to fill money in UPI lite
- It’s ready to use
How does it work?
Whenever you scan a QR code for payment via BHIM app and if the amount is less than Rs 200, you can avail UPI lite. Just type the amount you want to pay after scanning and tab on the confirm. UPI lite won’t ask UPI Pin.
Users can have the option to choose between simple UPI with UPI Pin or UPI lite.
They can see the balance of UPI Lite on Bhim app at the top of the interface.