New Delhi: Google Pay on Thursday launched UPI LITE on its platform to enable users to perform quick and one-click UPI transactions without the need to enter the UPI PIN.
The LITE account is linked to the user’s bank account but does not rely in real-time on the issuing bank’s core banking system, the company said in a statement.
The UPI LITE account can be loaded up to Rs 2,000 twice a day and allows users to make instant UPI transactions of up to Rs 200.
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“Unique offers and use cases to drive greater adoption of digital payments in the country and with the introduction of UPI LITE on the platform, we aim to simplify small-value transactions by helping users access a convenient, compact and superfast payment experience,” said Ambrish Kenghe, VP Product Management, Google. said
Google Pay app users can go to their profile page and tap to activate UPI LITE.
Once the linking process is completed, users will be able to add funds up to Rs 2,000 to their UPI LITE account, with a maximum daily limit of Rs 4,000.
“Subject to UPI Lite balance and for transaction values below Rs 200, the UPI LITE account will be selected by default,” the company said.
To complete the transaction, users need to tap on “Pay Pin-Free”.
The UPI LITE feature was launched by the Reserve Bank of India in September 2022 to simplify the UPI transaction process and is enabled by the National Payments Corporation of India (NPCI).
Fifteen banks support UPI LITE, with more banks to follow in the coming months
