New Delhi: The National Payments Corporation of India (NPCI) just released “UPI Lite” to speed up and make safer low-value transactions. This feature will be added to the BHIM app, and an “on-device” wallet can be used for small transactions. It could be the same as other wallets on the market. At any given time, you can put up to Rs 2000 in the wallet. Here are the steps to make your BHIM app work with UPI Lite.
How Does It Work?
The service will have a UPI Lite balance, which is the user’s virtual “on-device” balance that allows them to use UPI Lite on the BHIM app to make transactions.
Customers of the State Bank of India (SBI), Union Bank of India, Utkarsh Small Finance Bank, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, and Punjab National Bank would be able to use the UPI Lite payment system.
How to Get UPI Lite Set up In the Bhim App
Step 1: Get the BHIM app for your Android or iPhone and install it.
Step 2: Sign in to the app and add a bank account to use with UPI.
Step 3: Scroll down and tap the banner for UPI Lite.
Step 4: Click the “Enable Now” button.
Step 5: Read all the information and then tap “Enable Now.”
Step 6: You will now be asked to add Rs 2,000 to your UPI Lite e-wallet. Type in the amount you want to send.
Step 7: Choose the bank account you want to send the money from.
Step 8: Tap the button that says “Enable UPI Lite.”
Step 9: Enter your UPI PIN. After the money is moved, your UPI Lite e-wallet will be ready to use.
UPI Lite’s Good Points
Tired of putting the UPI Pin in again and again?
Even if you don’t have the Internet, you will still be able to use UPI.
UPI Lite will let you make payments of up to Rs 200.
At any given time, users can put up to Rs. 2000 into their UPI wallet.
In the app, you can only turn on UPI Lite for one account.