UPI Lite is here: It works offline and doesn’t require UPI Pin
<img src="” title=”UPI Lite is here: It works offline and doesn’t require UPI Pin” />
Reserve Bank of India (RBI) has launched UPI Lite in India for low-value transactions. The UPI Lite will work like regular UPI but is said to be faster and simpler. Interestingly, with Lite, users can make payments without an internet connection, allowing users to quickly send money even in downtimes and at peak hours.
UPI Lite requires No Pin, No Internet: Check out its features
Unlike UPI, which directly accesses a Bank account and sends or receives money, UPI Lite is an ‘on-device’ wallet. A wallet where users can add funds and use them to instantly send money to someone. One of the highlighting features of the UPI Lite is that it will work without an internet connection.
Since it is a wallet, users will have to add funds to the wallet while they are online (having internet access), and then even if there’s no internet access, users can send money to anyone instantly.
UPI Lite doesn’t require a UPI Pin, it will directly access the funds in your wallet and use it. One thing to note here is that there’s a limit to how much funds you can add to your UPI Lite wallet. Because it works without the internet, only up to Rs 2000 can be added to your wallet. Also, you will be able to send a maximum of Rs 200 per transaction.
However, you can do unlimited transactions in a day. UPI Lite is believed to be for low-value payments. This will eliminate the need of having loose cash all the time since it’s offline and many users are expected to make use of the feature. Also, this means you don’t need to get chocolate or candies just because there’s no change available.
UPI Lite feature is currently available on the BHIM app. You can access the wallet and add funds to it. As of now, there are eight banks that support the UPI Lite feature. These include the State Bank of India, Union Bank of India, HDFC Bank, Indian Bank, Canara Bank, Punjab National Bank, Kotak Mahindra Bank, and Utkarsh Small Finance Bank. We can expect more banks to support the feature soon.
The post UPI Lite is here: It works offline and doesn’t require UPI Pin appeared first on BGR India.
<img src="" title="UPI Lite is here: It works offline and doesn’t require UPI Pin" />
Reserve Bank of India (RBI) has launched UPI Lite in India for low-value transactions. The UPI Lite will work like regular UPI but is said to be faster and simpler. Interestingly, with Lite, users can make payments without an internet connection, allowing users to quickly send money even in downtimes and at peak hours.
UPI Lite requires No Pin, No Internet: Check out its features
Unlike UPI, which directly accesses a Bank account and sends or receives money, UPI Lite is an ‘on-device’ wallet. A wallet where users can add funds and use them to instantly send money to someone. One of the highlighting features of the UPI Lite is that it will work without an internet connection.
Since it is a wallet, users will have to add funds to the wallet while they are online (having internet access), and then even if there’s no internet access, users can send money to anyone instantly.
UPI Lite doesn’t require a UPI Pin, it will directly access the funds in your wallet and use it. One thing to note here is that there’s a limit to how much funds you can add to your UPI Lite wallet. Because it works without the internet, only up to Rs 2000 can be added to your wallet. Also, you will be able to send a maximum of Rs 200 per transaction.
However, you can do unlimited transactions in a day. UPI Lite is believed to be for low-value payments. This will eliminate the need of having loose cash all the time since it’s offline and many users are expected to make use of the feature. Also, this means you don’t need to get chocolate or candies just because there’s no change available.
UPI Lite feature is currently available on the BHIM app. You can access the wallet and add funds to it. As of now, there are eight banks that support the UPI Lite feature. These include the State Bank of India, Union Bank of India, HDFC Bank, Indian Bank, Canara Bank, Punjab National Bank, Kotak Mahindra Bank, and Utkarsh Small Finance Bank. We can expect more banks to support the feature soon.
The post UPI Lite is here: It works offline and doesn’t require UPI Pin appeared first on BGR India.
<img src="” title=”UPI Lite is here: It works offline and doesn’t require UPI Pin” />
Reserve Bank of India (RBI) has launched UPI Lite in India for low-value transactions. The UPI Lite will work like regular UPI but is said to be faster and simpler. Interestingly, with Lite, users can make payments without an internet connection, allowing users to quickly send money even in downtimes and at peak hours.
UPI Lite requires No Pin, No Internet: Check out its features
Unlike UPI, which directly accesses a Bank account and sends or receives money, UPI Lite is an ‘on-device’ wallet. A wallet where users can add funds and use them to instantly send money to someone. One of the highlighting features of the UPI Lite is that it will work without an internet connection.
Since it is a wallet, users will have to add funds to the wallet while they are online (having internet access), and then even if there’s no internet access, users can send money to anyone instantly.
UPI Lite doesn’t require a UPI Pin, it will directly access the funds in your wallet and use it. One thing to note here is that there’s a limit to how much funds you can add to your UPI Lite wallet. Because it works without the internet, only up to Rs 2000 can be added to your wallet. Also, you will be able to send a maximum of Rs 200 per transaction.
However, you can do unlimited transactions in a day. UPI Lite is believed to be for low-value payments. This will eliminate the need of having loose cash all the time since it’s offline and many users are expected to make use of the feature. Also, this means you don’t need to get chocolate or candies just because there’s no change available.
UPI Lite feature is currently available on the BHIM app. You can access the wallet and add funds to it. As of now, there are eight banks that support the UPI Lite feature. These include the State Bank of India, Union Bank of India, HDFC Bank, Indian Bank, Canara Bank, Punjab National Bank, Kotak Mahindra Bank, and Utkarsh Small Finance Bank. We can expect more banks to support the feature soon.
The post UPI Lite is here: It works offline and doesn’t require UPI Pin appeared first on BGR India.
