|
Paytm Payments Bank Limited (PPBL) has launched UPI Lite, a characteristic that permits customers to make small funds with out hassles. With on-line funds, there’s all the time a small likelihood that transactions will not undergo. Paytm guarantees its latest characteristic won’t ever fail, particularly throughout peak hours.
Paytm UPI Lite: How it Works
Paytm claims it’s at the moment the one platform to supply UPI Lite funds. Enabled by the National Payments Corporation of India (NPCI), UPI Lite permits prospects to make low-value UPI transactions.
With Paytm UPI Lite, customers could make small funds of as much as ₹200 at a time with out coming into a PIN every time. They can even switch their UPI stability again into their financial institution accounts with none hassles.
To encourage extra customers to undertake Paytm Lite, the corporate is providing ₹100 cashback to customers who activate and add a minimal quantity of ₹1,000 as a stability to the characteristic.
Launching lightning-fast UPI funds that by no means fail. Exclusively on Paytm! 🚀🚀
Upgrade your UPI expertise right now. Download the newest model of Paytm App now. #PaytmSeUPI
— Paytm (@Paytm) February 24, 2023
Users can load as much as ₹2,000 twice a day into their UPI Lite pockets. Since no restrict is enforced on the variety of small-value financial institution transactions but, prospects could make as many UPI funds as they need.
This characteristic will assist declutter financial institution statements with a single cash switch entry made within the checking account. To keep a document of transactions, prospects will get a every day SMS with an inventory of all UPI Lite transactions made the day earlier than.
How UPI Lite Will Improve Low-Value Transactions
NPCI claims that over 50 p.c of all UPI transactions are lower than ₹200. NPCI COO Praveena Rai explains how UPI Lite will streamline small-value transactions, “The introduction of UPI LITE will successfully provide a distributed way of authorizing low-value transactions, moving them away from core banking.”
Rai provides, “This shall further improve the success rate of transactions, enhancing the user experience and taking us one more step closer to processing a billion transactions a day on the UPI platform.”
Paytm UPI Lite: Banks Supported
As of now, 9 banks help Paytm UPI Lite. These embrace Kotak Mahindra Bank, Canara Bank, HDFC Bank, State Bank of India, Union Bank of India, Central Bank of India, Indian Bank, Punjab National Bank, and Utkarsh Small Finance Bank.
Source: Paytm weblog
Best Mobiles in India
1,39,900
89,900
ADVERTISEMENT61,999
62,999
84,999
82,999
59,400
1,09,999
59,999
79,999
65,900
13,999
6,499
13,499
11,999
1,29,900
17,990
12,999
7,332
13,999
49,549
5,999
7,999
32,719
19,519
29,752
17,735
8,876
8,990
4,570
…. to be continued
Read the Original Article
Copyright for syndicated content material belongs to the linked Source : Gizbot – https://www.gizbot.com/apps/news/paytm-upi-lite-goes-live-promises-lightning-fast-payments-084492.html