Paytm Payments Bank becomes 1st to launch UPI LITE feature

UPI LITE

Paytm Payments Banks Limited (PPBL) has launched Unified Payments Interface (UPI) LITE, enabled by National Payments Corporation of India (NPCI) for multiple small-value UPI transactions. This feature will help with faster real-time transactions with a single click through Paytm as the bank aims to drive the adoption of digital payments across the country. As a part of its efforts to drive innovation, the Bank said it is the first payments bank to launch such UPI LITE feature.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

It also de-clutters the bank passbook of small value transactions, as these payments would now only show in the Paytm balance and history section, and not in the bank passbook. The small value transactions would now only show in the Paytm balance and history section, and not in the bank passbook. With UPI LITE, users can carry out a large number of small-value UPI payments in a superfast manner without worrying about cap on the number of bank transactions.