Google Pay has launched UPI Lite, a new feature in India that streamlines digital payments for everyday items. UPI Lite, developed by the National Payments Corporation of India (NPCI), enables users to make quick and hassle-free payments with a single tap, without the need for a PIN entry. With UPI Lite, users can easily send up to ₹200 at a time from their UPI Lite account.
The Reserve Bank of India’s commitment to improve digital payment systems, unveiled in September of last year, is in line with the launch of UPI Lite on Google Pay. With this cutting-edge payment method, consumers may make quick and easy payments for low-value purchases like groceries, snacks, and cab fares.
As it is not reliant on real-time connections to the issuing bank’s core banking system, UPI Lite has a high success rate even during times of heavy transaction volume. Users can add up to Rs. 2,000 twice daily to their UPI Lite accounts, allowing them to send up to Rs. 200 in payments at any given moment.
While 15 Indian banks accept UPI Lite, Google Pay joins other platforms like Paytm and PhonePe in delivering the service. The partnership between Google Pay and NPCI intends to promote the Indian government’s objective for a cashless society by increasing the acceptance and reach of digital payments in the nation.
User can activate UPI Lite on Google Pay by doing the following simple actions: To use the ‘UPI Lite’ function, open the Google Pay app, find and tap on the profile icon, scroll down to discover it, tap on it to activate it, link their bank account, and then follow the on-screen directions. Users can begin adding money to their UPI Lite account in increments of up to Rs. 2,000 after it has been activated.
With UPI Lite, Google Pay aims to provide users with a compact and seamless payment experience, contributing to the growth and further establishing India as a global leader in the digital economy.