PhonePe has announced that it has made the UPI Lite feature live on its app. After this, PhonePe users will be able to make payments without entering any PIN. PhonePe users will now be able to make payments without entering any PIN. Through the UPI Lite feature, payments up to Rs 200 can be made without entering a PIN. Recently, Paytm, one of the biggest rival companies of PhonePe, also started this feature.
India’s largest digital payment platform PhonePe has brought a new service for its users. After this service, now it has become easy to make payment through it. Actually PhonePe has announced that it has made the UPI Lite feature live on its app. After this, PhonePe users will be able to make payments without entering any PIN.
Payment will be done without entering PIN
PhonePe users will now be able to make payments without entering any PIN. Through the UPI Lite feature, payments up to Rs 200 can be made without entering a PIN. Recently, Paytm, one of the biggest rival companies of PhonePe , also started this feature. Rahul Chari, Co-Founder and Chief Technology Officer, PhonePe, said that UPI Lite is an important part of the UPI Stack offering. Also, this service is meant to enhance the digital payment experience of the users for frequent and small expenses.
Large number of small payments are done through UPI
Explain that in the overall UPI transaction, many payments with small amounts are made. With the introduction of the UPI Lite service, such payments can now be made more easily and faster. The UPI Lite feature was launched in September 2022 by Reserve Bank of India (RBI) Governor Shaktikanta Das with a view to make low value UPI payments easier and faster.
UPI payment will be done easily
Small transactions can be done easily after UPI Lite payment is introduced. Such payments can be made in a single click without entering any PIN. 2000 rupees can be added to the UPI wallet at a time. Also, no PIN will have to be entered for transactions up to Rs 200.
This is how UPI Lite feature will be activated
To activate the UPI Lite feature, the first thing you need to do is open the PhonePe app. After this, on the home screen of the app, users will get the option to enable the UPI Lite feature. To add money in UPI Lite feature, you have to first enter the amount and select the bank account option. After this you have to enter the UPI PIN. After which your account will be activated.
