Google Pay Joins the Fray: Introduces UPI Lite for Faster Transactions under Rs 200, Following Paytm and PhonePe

Google Pay Joins the Fray: Introduces UPI Lite for Faster Transactions under Rs 200, Following Paytm and PhonePe

With UPI Lite, Google Pay enables users to make faster transactions of up to Rs 200. This feature utilizes a Lite account that doesn’t rely on real-time connectivity with the issuing bank’s core system. Users can load their Lite account with up to Rs 2,000 twice a day, and it allows them to make payments of up to Rs 200.

One of the advantages of UPI Lite, according to Google, is that it leads to a less cluttered bank passbook with fewer transactions. Since UPI Lite transactions are not recorded in real-time on the issuing bank’s core system, it reduces the number of individual entries in the user’s passbook, resulting in a cleaner and more organized record of transactions.

The purpose of UPI Lite is to provide a streamlined and convenient payment option for small-value transactions. By offering a separate Lite account that doesn’t require real-time connectivity, Google Pay aims to simplify the payment process for quick transactions of up to Rs 200. This feature can be particularly useful for scenarios where speed and efficiency are crucial, such as making payments at retail stores, transit systems, or for micro-transactions.

What is UPI Lite?

With UPI Lite, Google Pay enables users to make faster transactions of up to Rs 200. This feature utilizes a Lite account that doesn’t rely on real-time connectivity with the issuing bank’s core system. Users can load their Lite account with up to Rs 2,000 twice a day, and it allows them to make payments of up to Rs 200.

One of the advantages of UPI Lite, according to Google, is that it leads to a less cluttered bank passbook with fewer transactions. Since UPI Lite transactions are not recorded in real-time on the issuing bank’s core system, it reduces the number of individual entries in the user’s passbook, resulting in a cleaner and more organized record of transactions.

The purpose of UPI Lite is to provide a streamlined and convenient payment option for small-value transactions. By offering a separate Lite account that doesn’t require real-time connectivity, Google Pay aims to simplify the payment process for quick transactions of up to Rs 200. This feature can be particularly useful for scenarios where speed and efficiency are crucial, such as making payments at retail stores, transit systems, or for micro-transactions.

How to activate UPI Lite on Google Pay?

To start making UPI Lite transactions via Google Pay, you can follow these steps:

1. Open the Google Pay app and navigate to the profile page.
2. Look for the option “Activate UPI Lite” and tap on it.
3. Follow the prompted instructions to complete the linking process.
4. Once the linking process is done, the default transaction mode for transactions up to Rs 200 will be set as UPI Lite.
5. To make a payment, simply tap on the “Pay PIN-Free” option.
6. You can now proceed with the transaction without needing to enter the UPI PIN.

It’s important to note that the UPI Lite account has certain limitations. Users can only add funds up to Rs 2,000 to their UPI Lite account, and the maximum transaction limit per transaction is set at Rs 4,000. If a user loses their device with an active Lite account and balance, they can approach their bank for a refund of the remaining balance in their bank account.

These steps and limitations ensure a seamless and convenient experience for users making quick, small-value transactions using UPI Lite through Google Pay.

UPI Lite is a feature that aims to simplify UPI transactions and was introduced by the Reserve Bank of India in September 2022. It is supported by the National Payments Corporation of India (NPCI) and offers a streamlined transaction process.

In addition to Google Pay, UPI Lite is also available on other popular payment apps such as BHIM, Paytm, and PhonePe. This allows users of these apps to benefit from the convenience and simplicity of UPI Lite for their small-value transactions.

It’s worth noting that when a user changes their mobile device, they will need to disable the Lite account on the old device and enable a new Lite account on the new device. This ensures the security and continuity of the Lite account and its associated balance.

Overall, UPI Lite enhances the UPI transaction experience by providing users with a faster and more convenient way to make small-value payments through various UPI-enabled apps.