Paytm Payments Bank Limited launches UPI Lite

• Paytm Payments Bank has become the first bank to launch UPI Lite feature.

• Paytm Payments Bank Limited has launched UPI Lite. This will enable multiple small-value UPI transactions.

• UPI Lite will help in faster real-time transactions with a single click through Paytm.

• NPCI designed this facility and it is to be launched by the Reserve Bank of India (RBI) in September 2022.

• The UPI Lite Wallet will allow users to make instant transactions of up to ₹200. ₹2,000 can be added to the UPI Lite Wallet twice a day.

• UPI Lite will provide users with a fast, secure and seamless low value transaction experience.

• More than 50 per cent of transactions through UPI are of less than Rs 200.