what is upi lite in paytm

UPI Lite is a digital account designed to facilitate low-value transactions. It is a simplified version of the original UPI payment system and has been launched to cater to the needs of users who perform small-value transactions on an everyday basis. Paytm, a pioneer in digital payment apps, has recently introduced UPI Lite as a new feature into the Paytm application. UPI Lite is an on-device feature that facilitates quick and hassle-free instant small-value transactions. With a transaction limit of Rs. 200, users can make quick and frequent payments without the need to enter a PIN or passcode for each transaction. Users can activate UPI Lite on the Paytm app by linking the bank account that supports this feature. Once the linking process is complete, users can add funds up to Rs. 2000, and a maximum of Rs. 4000 per day to their UPI Lite account. Currently, only 9 banks and 2 third-party apps, including Paytm, have implemented UPI Lite.