Recently, Paytm Payments Bank Ltd (PPBL) became the first to go live with Paytm UPI LITE for lightning-fast payments of up to ₹200, that never fail even during peak transaction hours. And in case you have been wondering what are the benefits of Paytm UPI LITE, we have got the lowdown for you!
With Paytm UPI LITE, tech innovator Paytm has brought yet another first to the payments industry. Once loaded, UPI LITE allows a user to do instant payments of up to ₹200, making the entire experience seamless. A maximum of ₹2,000 can be added twice in a day to UPI LITE, making the cumulative daily usage up to ₹4,000.
Paytm UPI is powered by the latest UPI LITE Technology for successful payments, and offers 3-level bank-grade security. It is powered by the security and technology of Paytm Payments Bank. UPI LITE is the balance available on Paytm App linked to the users’ UPI-linked bank account, which can be transferred to any other bank account linked to Paytm app through the self-transfer option. This balance can only be added from a select UPI-linked bank account, and works wherever there is UPI QR code.
But what makes it interesting is the promise of lightning-fast payments that never fail. Being an on-device balance, Paytm UPI LITE removes dependency on users’ bank availability, thus lowering the chance of transaction failure, making it a more dependable option for users.
Furthermore, it makes no multiple entries of every payment in bank statements. The payments made using UPI LITE will not be shown in the passbook, offering an uncluttered bank statement for the user. It records only a single entry when adding money to UPI LITE balance.
Paytm UPI LITE will boost the small-value transactions, leading to the larger adoption of mobile payments among masses.Paytm pioneered QR based payments in India. India’s most innovative tech company is a leader in offline payments, and took UPI to every nook and corner of the country.
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