UPI Lite has received new features and new transaction limits from the National Payments Corporation of India (NPCI).
UPI Lite is a simplified version of UPI, intended for PIN-less transactions of low value, making it the best fit for frequent small payments.
In simple terms, you just top-up your UPI Lite wallet from your main UPI account and can make small value payments(e.g. Rs 20 or 30) without entering your UPI pin.
Below are the key changes to UPI Lite starting November 1, 2024.
Also read: Best UPI apps for android
UPI Lite new transaction limits:
- As per the new UPI Lite guidelines, users are allowed to make transactions up to Rs 1,000 without entering the UPI PIN.
- The transaction limit has been doubled from the previous limit of Rs 500.
Wallet balance increase:
- The new limits allow users to add wallet balances up to Rs 5000.
- Previously the limit was just Rs 2000. But the daily transaction limit remains at Rs 4000.
Auto top up feature:
- Auto top up feature in UPI lite allows users to automatically recharge their UPI Lite account when the wallet balance falls below the threshold limit.
- Users can setup a mandate for the auto top up feature and retain control by being able to cancel it at any time.
