PhonePe, a popular digital payments platform, has recently launched the UPI Lite feature on its app. This feature is designed to allow users to initiate low-value payments under ₹200 with a single tap from their UPI Lite account without the need to enter a PIN. The transactions are processed directly by debiting the on-device UPI Lite balance without involving the customer’s bank’s core banking systems in real-time. This makes the transactions faster and more seamless than regular UPI transactions while also increasing the success probability of the transaction.
One of the main benefits of the UPI Lite feature is that it is supported by all major banks and accepted by all UPI merchants and QRs across the country. The feature operates through an ‘on-device’ balance that facilitates much faster real-time payment solutions for low-value transactions such as groceries and transit, even during the busiest time slots.
Users can easily activate the feature on their PhonePe app through a simple process that doesn’t involve any KYC authentication and create a UPI Lite account. They can load up to ₹2000 in their Lite account and make transactions of up to ₹200 or less in one go.
How PhonePe users can activate UPI Lite on the PhonePe app?
- Open the PhonePe app
- On the home screen of the app, users will get the option to enable UPI Lite
- User enters the amount to add it in UPI Lite and selects the bank account
- User enters UPI Pin and the UPI Lite account is enabled successfully.
PhonePe was founded in December 2015 and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 45+ crore (450+ Million) registered users, one in four Indians are now on PhonePe.