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Do you use online payment apps for purchases? Then there is something new that is very beneficial for the users like you who use these apps, especially PAYTM for small to small purchases. Hi everyone reading this, I am Lalit from FreeKaaMaal and today I am going to tell you about the "UPI LITE" on Paytm.

What is UPI LITE on Paytm?

Until now, you had to use the UPI Pin for every UPI transaction from Paytm. But the UPI Lite wallet allows you to do UPI transactions up to Rs.200 without UPI PIN. You just have to add money to your UPI Lite wallet first and then you can do the transaction.

UPI LITE was designed by the National Payments Corporation of India and launched by the Reserve Bank of India in September 2022. Paytm Payments Banks Limited (PPBL) became the first to launch it in its app.

Two additions of a maximum of Rs.2000 can be made to UPI LITE per day, bringing the daily use total to Rs.4000. Only debit is currently allowed from your UPI LITE wallet, and all credits to UPI Lite (including refunds) will go straight to your bank account.

Benefits of UPI LITE?

• The time of the users will be saved.
• The increased rate of success for UPI transactions.
• Less demand on the infrastructure of Remitter Bank Users' CBS 
• Without having to worry about the number of bank transactions being capped, users can quickly complete a high number of small-value UPI payments.
• Uncluttered Passbook as the transaction details will not be shown on the bank passbook.
• Single-factor authentication with one click for UPI transactions under 200 rupees

How to use UPI LITE on Paytm? 

• Open the Paytm app on iOS or Android.
• Tap on the "Profile" button at the home page's top left corner.
• Next, click on "UPI & Payment Settings" and select "UPI LITE" under the "Other Settings" section.
• Choose the bank account that is eligible for UPI Lite.
• Enter the amount you want to add to your UPI Lite account.
• Enter your MPIN and validate it to create your UPI Lite account.

If the option is not showing in your app, don't worry, it will roll out to everyone very soon.