Google Pay UPI LITE is here; Check the payment benefits that you will get

Google Pay UPI LITE has been introduced and now you can make faster and smaller transactions

Google Pay UPI Lite will ensure faster transactions. (HT Tech)

No need to enter UPI PIN as Google Pay has introduced the UPI Lite! It will allow you to make digital payments faster. The new version is available to existing Google Pay users. Also, users can now make small payments simply with one-click. Notably, this is an improvement as over the years, Google Pay users have been making payments through the PIN method. It makes the payment process longer. The UPI Lite method will now help users to make small instant payments of even under Rs.200 without the UPI PIN.

About the Google Pay UPI Lite

The Lite account will be linked to the user's bank account but it will not support the long core banking system. This new addition will make quick payments during peak hours as well. Users can load their UPI Lite account up to Rs.2000 twice a day and users will be able to make quick payments up to Rs.200. Note that these transactions will not be shown in the user's bank passbook. Therefore, the passbook will be less crowded with small transactions.

• How to activate this feature on Google Pay:
• Go to your profile page in Google Pay app and tap on activate UPI LITE
• Complete the linking process and then you will be able to add funds up to Rs. 2000 to on UPI LITE account, with a maximum per day limit of Rs. 4000.
• Make sure the transaction values are less than or equal to Rs. 200, the UPI LITE account will be selected by default.
• To complete the transaction you just need to tap on “Pay PIN-Free”.

Ambarish Kenghe, VP of Product Management from Google, said, “At Google Pay, we feel privileged to partner with the Indian government along with NPCI and RBI, in growing the reach and usefulness of UPI. With the introduction of UPI LITE on the platform, we aim to simplify small-value transactions by helping users access a convenient, compact, and superfast payments experience.”

The UPI Lite was launched last year by RBI to make transactions easier and is enabled by the National Payments Corporation of India (NPCI). As of now 15 banks support UPI Lite and more will come in the coming months.