Google has launched UPI Lite for Google Pay in India, which allows users to make one-click payments without entering their UPI PIN.
For those uninitiated, UPI Lite is an RBI and NPCI initiative in which a user’s LITE account is linked to their bank account, but it does not use the core banking system to reduce reliance on the issuing bank. This means that UPI Lite has a higher success rate even during peak transaction hours—when traditional UPI often goes down due to increased load on bank servers.
UPI Lite users can transact up to Rs 4000 per day. The account can be loaded with up to Rs 2000 twice a day, and per transaction, users can make payments up to Rs 200 using the loaded amount.
Another advantage of UPI Lite is that it keeps your passbook and bank statements uncluttered. Often, we find ourselves dealing with bank statements that are full of small transactions, which can be confusing. UPI Lite transactions do not appear in your bank passbook, but the amount you loaded into your UPI Lite account will be shown. So, if you added Rs 1000—that amount will show up in your bank. However, you can still see the small transactions you made using UPI Lite in your UPI Lite account.
How To Enable UPI Lite On Google Pay
- Google Pay app users can go to their profile page and tap on activate UPI Lite.
- On completion of the linking process, users will be able to add funds up to INR 2000 to their UPI LITE account, with the maximum per day limit being Rs 4000.
- Subject to UPI Lite balance and for transaction values less than equal to Rs 200, the UPI Lite account will be selected by default.
- To complete the transaction, users need to tap on “Pay PIN-Free.”
Currently, 15 banks support UPI Lite, including AU small Finance Bank, Axis Bank Ltd, Canara Bank, Central Bank Of India, Federal Bank, HDFC Bank Ltd, ICICI Bank, Indian Bank, Kotak Mahindra Bank, Paytm Payments Bank, Punjab and Sind Bank, Punjab National Bank, State Bank Of India, UCO Bank, Union Bank of India, Utkarsh Small Finance Bank Ltd.
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