The National Payments Corporation of India (NPCI) has recently introduced ‘UPI Lite’ for making low-value transactions faster and safer. This feature will be enabled on the BHIM App and low-value transactions can be carried out using an ‘on-device’ wallet. It might be similar to other wallets present in the market. You can put a maximum amount of Rs 2000 in the wallet at any given point. Here are steps to enable UPI Lite on your BHIM APP.
How does it work?
The service will have UPI Lite balance meaning the virtual ‘on-device’ balance enabled by the User from the Account to perform Transactions using UPI Lite on the BHIM App.
Customers of the following eight banks would be able to use UPI Lite payment system: State Bank of India (SBI), Union Bank of India, Utkarsh Small Finance Bank, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, and Punjab National Bank.
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How to set up UPI Lite in BHIM app
Step 1: Download and install BHIM app on your Android phone or iPhone.
Step 2: Login the app and add a bank account for UPI transactions.
Step 3: Scroll down and tap the UPI Lite banner.
Step 4: Tap the Enable Now button.
Step 5: Read all the details and then tap the Enable Now button.
Step 6: Now, you will be asked to add Rs 2,000 to your UPI Lite e-wallet. Enter the amount that you want to transfer.
Step 7: Select the bank account from which you want to transfer the sum.
Step 8: Tap the Enable UPI Lite button.
Step 9: Enter your UPI PIN. Once the amount is transfer, your UPI Lite e-wallet will be activated.
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Benefits of UPI Lite
Relaxation from putting UPI Pin again and again.
UPI transaction will be possible even without Internet.
UPI Lite will allow transactions upto Rs 200.
Users can put the maximum amout of Rs 2000 into the UPI wallet at any given point.
You can enable UPI Lite for one Account only in the App.
This Post Was Originally Published On Zee News