Paytm, a fintech major, is now focusing on UPI Lite Wallet to enhance the payment experience for users who prefer wallets for low-value transactions. UPI Lite acts as an on-device wallet, offering lightning-fast payments without the need for a pin, ensuring convenience and efficiency for users on the go.
Designed for speed, security, and reliability, Paytm UPI Lite wallet enables users to make instant, fail-proof transactions of up to ₹500 each. This service is particularly beneficial for individuals who frequently handle small payments such as grocery shopping, parking fees, or daily commute fares.
Moreover, UPI Lite ensures a clutter-free bank statement, consolidating all transactions into a single entry regardless of the number of payments made, simplifying financial tracking for users.
With the flexibility to add up to ₹2,000 to the wallet twice a day, reaching a total daily capacity of ₹4,000, Paytm empowers users to efficiently manage their small daily expenses. This streamlined approach eliminates the need for multiple entries in bank passbooks, offering a hassle-free and organized financial tracking experience.
How to activate UPI Lite on the Paytm app
- Open the Paytm app and click on the ‘UPI Lite Activate’ icon on the homepage.
- Choose the desired bank account to link with UPI Lite.
- Enter the desired amount to add to UPI Lite to initiate payments.
- Validate the MPIN to create the UPI Lite account.
- Your UPI Lite account is now set up for easy, one-tap payments.
To make payments using UPI Lite wallet, users can simply scan any UPI QR code, enter the mobile number, or select a contact from their list. “The collaboration our parent company, One97 Communications Limited (OCL), and leading Payment System Providers (PSPs) such as Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank ensures a robust and reliable framework for UPI transactions, facilitating seamless and uninterrupted payment experiences,” the company said in a blog post.