On February 6, ET was the first to report that Paytm was planning to go live with the product<\/a> that will allow users to make small-ticket transactions without the use of UPI PIN.
\"We are excited to be the first to empower<\/a> Indians with the power of UPI Lite,” said Surinder Chawla, MD and CEO, Paytm<\/a> Payments Bank. “As per official data from NPCI, half of the everyday UPI transactions in the country are less than Rs 200 and with UPI Lite, users get superior experience with faster and safer real-time small value payments. We are focussed on driving digital inclusion and the launch of UPI Lite is a big step ahead in that direction.”
ET had also reported that in addition to Paytm, Walmart-owned fintech PhonePe was also planning to soon launch its UPI Lite offering. Tiger Global-backed fintech Slice is also working on launching UPI Lite on its UPI payments product, ET had reported on February 6.
UPI Lite was launched in September 2022 by Reserve Bank of India governor Shaktikanta Das<\/a> to make low-value UPI payments faster and simpler. So far, only BHIM UPI app had UPI Lite feature live on the platform but a negligible amount of users transact through it now.
UPI Lite is an on-device wallet feature that allows users to make real-time small-value payments of up to Rs 200 without using a UPI PIN. At present, only debit from your wallet is permitted and all credits to UPI Lite, including refunds, will directly go to your bank account.
About 75% of the total volume of retail transactions, including cash, in India are below Rs 100 in transaction value. Additionally, 50% of the total UPI transactions are also of value Rs 200 or less, according to an NPCI circular issued in March last year.
In a statement, Paytm Payments Bank said that the feature helps in de-cluttering the bank passbook of small value transactions, \"as these payments would now only show in the Paytm balance & history section, and not in the bank passbook\".
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Paytm支付银行周三表示,已经与生活UPI Lite在其平台上的特性。统一的支付接口(UPI)Lite允许交易的Rs 200不使用UPI销。
2月6日,ET是第一个报告,Paytm计划与产品上线小金额交易,将允许用户不使用UPI销。
“我们是兴奋是第一个授权说:“印度人的力量UPI Lite萨伦德拉,MD和首席执行官,Paytm支付银行。“从NPCI根据官方数据,每天一半的UPI交易在中国不到200卢比UPI Lite,用户获得优越的经验更快和更安全的实时支付小值。我们致力于推动数字包容和UPI Lite的发射是在这个方向上的一大步。”
等也报道,除了Paytm Walmart-owned fintech PhonePe也计划很快推出UPI Lite祭。老虎Global-backed fintech片也在研究发射UPI Lite UPI支付产品,等已经在2月6日报道。
UPI Lite于2022年9月由印度储备银行行长Shaktikanta Das做低价值UPI支付更快、更简单。到目前为止,只有BHIM UPI应用UPI Lite特性住在平台但微不足道的用户通过现在进行交易。
UPI Lite是一个设备内置的钱包功能,允许用户进行实时支付金额较小的Rs 200不用UPI销。目前,只有借方允许从你的钱包和所有学分UPI Lite,包括退款,将直接去你的银行账户。
大约75%的零售交易的总量,包括现金,在印度在成交价格低于100卢比。此外,总数的50% UPI交易也有价值的Rs 200或更少,据NPCI循环去年3月发行。
Paytm付款银行在一份声明中说,功能有助于清理小价值的银行存折交易,“现在这些支付Paytm平衡与历史上只显示部分,而不是在银行存折”。
2月6日,ET是第一个报告,Paytm计划与产品上线小金额交易,将允许用户不使用UPI销。
“我们是兴奋是第一个授权说:“印度人的力量UPI Lite萨伦德拉,MD和首席执行官,Paytm支付银行。“从NPCI根据官方数据,每天一半的UPI交易在中国不到200卢比UPI Lite,用户获得优越的经验更快和更安全的实时支付小值。我们致力于推动数字包容和UPI Lite的发射是在这个方向上的一大步。”
等也报道,除了Paytm Walmart-owned fintech PhonePe也计划很快推出UPI Lite祭。老虎Global-backed fintech片也在研究发射UPI Lite UPI支付产品,等已经在2月6日报道。
UPI Lite于2022年9月由印度储备银行行长Shaktikanta Das做低价值UPI支付更快、更简单。到目前为止,只有BHIM UPI应用UPI Lite特性住在平台但微不足道的用户通过现在进行交易。
UPI Lite是一个设备内置的钱包功能,允许用户进行实时支付金额较小的Rs 200不用UPI销。目前,只有借方允许从你的钱包和所有学分UPI Lite,包括退款,将直接去你的银行账户。
大约75%的零售交易的总量,包括现金,在印度在成交价格低于100卢比。此外,总数的50% UPI交易也有价值的Rs 200或更少,据NPCI循环去年3月发行。
Paytm付款银行在一份声明中说,功能有助于清理小价值的银行存折交易,“现在这些支付Paytm平衡与历史上只显示部分,而不是在银行存折”。
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