Paytm Lite Limit: Taking another big step in the field of digital payments, Paytm has launched UPI Lite auto top-up feature for its users. Let’s know the full news.
Paytm Lite Limit: Taking another big step in the field of digital payments, Paytm has launched the UPI Lite auto top-up feature for its users. Paytm’s parent company One 97 Communications Limited (OCL) has taken a step towards making small amount transactions even simpler and faster through this feature. Now users will be able to easily make payments up to Rs 500 without a PIN. This new feature is an attempt to take digital payments (Paytm Lite Limit) to a new height.
Growing influence of UPI (Paytm Lite Limit)
The trend of Unified Payment Interface (UPI) is growing rapidly in India. Lakhs of transactions are taking place through UPI every day. The government has made many efforts to encourage it, which has boosted the digital economy. This new feature of Paytm (Paytm Lite Limit) will not only prove beneficial for the users, but small merchants and shopkeepers will also benefit from it.
What is UPI Lite Auto Top-up feature?
Paytm (Paytm Lite Limit) announced on Monday that it has introduced auto top-up feature for its UPI Lite users. Through this feature, users can automatically recharge the balance of UPI Lite wallet. Along with this, transactions with small amounts up to Rs 500 can be done without PIN. UPI Lite wallet can hold a maximum amount of up to Rs 2,000 and can be reloaded up to five times a day. UPI Lite is an easy and fast solution
The UPI Lite feature (Paytm Lite Limit) was launched by the Reserve Bank of India (RBI) in September 2022. This feature is designed to make small transactions easier and faster. This new update of Paytm will not only save users time but will also make small payments like grocery shopping, transport, and small bill payments seamless.
Keep bank statements clutter-free
The most important thing about UPI Lite (Paytm Lite Limit) is that it works through an on-device wallet. It keeps every small transaction related to a regular bank account separate from the bank statement. This means that the user’s bank statement will be more clean, making it easier to track large and important transactions.
How will UPI Lite work?
To use the UPI Lite feature (Paytm Lite Limit), users must first set a minimum balance. As soon as the wallet balance falls below the set amount, it will be automatically reloaded from the bank account. However, the wallet balance limit cannot exceed Rs 2,000. This feature will also be useful to users in places where internet connectivity is slow or interrupted. PIN is not required to make payments through UPI Lite, making it even more simple and convenient.
Paytm’s Vision
Paytm aims to make UPI payments as simple and widespread as possible. The company believes that this new feature will help small merchants and common users adopt digital payments. Along with this, this feature will further strengthen Paytm’s hold in the fintech industry.
