‘UPI Lite,’ established by the National Payments Corporation of India (NPCI), is designed to facilitate low-value transactions while increasing their speed and security. The BHIM app will soon be updated to include this functionality, allowing users to make small purchases with an “on-device” wallet. Perhaps it’s comparable to other wallets out there. At any given time, you’re only allowed to store a maximum of Rs 2,000 in your wallet. To use UPI Lite with your BHIM app, follow these simple instructions.
Customers of the following 8 banks will be able to use the UPI Lite payment system: Punjab National Bank, Canara Bank, Kotak Mahindra Bank, Indian Bank, Union Bank, Utkarsh Small Finance Bank, and State Bank of India (SBI).
Read more: If the iPhone 14 didn’t win your heart, then these 5 powerful Smartphones could be your best option.- Read full news to know more.
How does it operate?
UPI Lite balance, or the User’s authorised ‘on-device’ balance from the Account, will be used for Transactions on the BHIM app.
UPI Lite will be available to customers of the State Bank of India ( SBI ), Union Bank of India (UBI), Canara Bank (CB), HDFC Bank (CB), Indian Bank (IB), Kotak Mahindra Bank (KMB), & Punjab National Bank (PNB).
Guide to enabling UPI Lite in the BHIM app
1. The first thing you need to do is get the BHIM application on your iOS or Android device.
2. The second step is to sign into the app and link a bank account for UPI payments.
3. When you get to the bottom, click the UPI Lite advertisement.
4. Select the Enable Now button.
5. In the fifth and last step, after reading the information carefully, you will enable the feature by clicking the Enable Now option.
6. Now you’ll be prompted to fund the UPI Lite e-wallet with Rs 2,000. To transfer a certain sum, please enter that amount here.
7. The seventh step is to decide which bank account will receive the money.
8. You’ll enable UPI Lite by clicking the corresponding button.
9. In the ninth step, your UPI PIN needs to be entered. After the funds have been sent, your UPI Lite e-wallet would be made active.
Using UPI Lite has many advantages.
Relief from constantly inserting a UPI pin.
Transactions using UPI will be available even if there is no network connection.
Using UPI Lite, you can send and receive up to Rs 200.
The maximum amount that can be stored in a user’s UPI wallet is Rs 2000.
Only one Account in the app can have UPI Lite enabled at a time.
,to facilitate low-value transactions while increasing their speed and security.){kind=link}