Google Pay has introduced UPI Lite, a digital payment service developed by the National Payments Corporation of India (NPCI). The Reserve Bank of India further launched the service in September 2022.
A new feature, UPI Lite, was just released by Google Pay. The feature enables customers to make payments without providing their UPI PIN. National Payments Corporation of India (NPCI) had developed, UPI Lite, which is a digital payment service that the Reserve Bank of India further launched in September 2022. Users may use it to quickly and easily send up to Rs 200 from their UPI Lite account with just one tap.
With the inclusion of UPI Lite on its platform, Google Pay seeks to streamline and accelerate digital payments. Users may now take advantage of the ease of quick, one-click UPI transactions without a UPI PIN. The new UPI Lite account has been connected to the customers’ bank accounts and enables autonomous operation by providing real-time access to the core banking system.
Users are assured by Google Pay that UPI Lite delivers greater success rates even during busiest times for transactions. Users can execute immediate UPI transactions up to INR 200 by loading the UPI Lite account with up to INR 2000 twice daily. Users will have a less cluttered bank passbook and fewer transaction data thanks to UPI Lite.
This launch of UPI Lite follows in the heels of major rivals Paytm and PhonePe, which have recently added the same functionality to their platforms. 15 banks now offer UPI Lite, and additional institutions are anticipated to sign up in the upcoming months.
“At Google Pay, we feel privileged to partner with the Indian government, NPCI, and RBI to expand the reach and usefulness of UPI,” said Ambarish Kenghe, VP of Product Management at Google, of the launch. The country’s continued acceptance of digital payments depends on distinctive products and use cases. With the addition of UPI Lite to our platform, we hope to make small-value transactions easier for customers by giving them access to a quick, easy, and simple payment method.
Users can complete a short process that does not involve KYC identification to enable UPI Lite on Google Pay. The steps to enable UPI Lite are as follows:
Open the Google Pay app on your smartphone.
To reach your profile page, tap on the profile symbol or your profile photo.
Tap on the “UPI LITE” activation option after scrolling down or navigating to it.
To activate UPI Lite, adhere to the directions and details displayed on the screen.
Finish the joining procedure, which can require connecting your bank account and confirming your information.
You will receive a confirmation that UPI Lite has been successfully activated when the connection process is complete.
By going to the UPI Lite area or wallet in the Google Pay app, users may add money to their UPI Lite accounts. Then, after selecting the option to contribute funds, they may input the required sum, up to a daily limit of INR 2000.
It’s vital to know that the UPI Lite account will be automatically chosen for transactions costing up to or less than INR 200, negating the need to input the UPI PIN. With UPI Lite, Google Pay intends to improve the usability and efficacy of low-value transactions while providing users a simple and speedy payment procedure.
Conclusion
Google Pay has just implemented UPI Lite, a digital payment solution created by the National Payments Corporation of India (NPCI) and deployed by the Reserve Bank of India in September 2022. UPI Lite allows customers to send up to Rs 200 from their UPI Lite account with only one tap. The feature streamlines and accelerates digital payments, enabling quick, one-click UPI transactions without a UPI PIN. It is connected to customers’ bank accounts and provides real-time access to the core banking system. UPI Lite delivers greater success rates even during busy times, with immediate transactions up to INR 200. The platform is now available in 15 banks, with additional institutions expected to join in the coming months.
Enabling UPI Lite on Google Pay is a short process that does not involve KYC identification. Users can add money to their UPI Lite accounts and input the required sum, up to a daily limit of INR 2000. The UPI Lite account will be automatically chosen for transactions costing up to or less than INR 200, eliminating the need for the UPI PIN.
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