Technical News Office –There is big news for those who make UPI payments via Google Pay, PhonePe, Paytm. NPCI is going to make two significant changes to UPI Lite from November 1, 2024, which will benefit users. Starting November 1, users will now be able to make more payments through UPI Lite than before. RBI has increased the transaction limit of UPI Lite. At the same time, if the UPI Lite balance falls below a certain limit, the user’s account will be automatically recharged. With this, payment can be made through UPI Lite without any interruption.
What is UPI Lite?
All UPI payment platforms including Google Pay, PhonePe and Paytm offer UPI Lite functionality. UPI Lite is a digital wallet that gives the freedom to make small transactions without a PIN or password. To replenish money in the UPI Lite wallet, users need to top up manually. After the implementation of the new rules from November 1, users’ wallets will be automatically topped up. The National Payment Corporation of India (NPCI) launched the UPI Lite feature some time ago. To recharge this wallet, users get a limit of up to Rs 2000. Users can make small payments through UPI Lite without a PIN. NPCI had issued a notification on August 27, 2024, announcing the auto balance payment feature for UPI Lite.
Automatic balance payment service
To enable the auto balance payment service in UPI Lite, users will have to activate it before October 31, 2024. Users will have to set a minimum limit in the account linked to UPI Lite Wallet. As soon as the minimum wallet amount is reached, the wallet will be automatically replenished from the user’s account. NPCI has set the maximum limit for UPI Lite at Rs 2,000. Additionally, users will not be able to make more than 5 recharges in their UPI Lite wallet per day. If a user has not opted for the auto balance payment feature, they will be able to manually recharge their UPI Lite wallet.
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