The National Payments Corporation of India (NPCI) recently unveiled "UPI Lite" to speed up and secure low-value transactions. A "on-device" wallet can be used to conduct low-value transactions once this feature is enabled on the BHIM App. It might resemble other wallets that are available on the market. A maximum of Rs 2000 can be stored in the wallet at any given time. To enable UPI Lite on your BHIM app, follow these steps.
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How does UPI Lite work?
In order to perform Transactions using UPI Lite on the BHIM App, the service will have UPI Lite balance, which is the virtual "on-device" balance enabled by the User from the Account.
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 will be able to use the UPI Lite payment system.
Step-by-step guide to set up UPI lite in BHIM app:
- Download the BHIM app on your mobile phone.
- Login the app and add a bank account for UPI transactions.
- Select the UPI Lite banner by swiping down.
- Tap on the Enable Now button.
- Read all the details provided.
- You'll now be required to deposit Rs 2,000 into your UPI Lite e-wallet. You should enter the transfer amount.
- Select the account from which you want to transfer the money.
- Tap the Enable UPI Lite button.
- Enter your UPI Pin. Once the amount is transferred your UPI Lite e-wallet will be activated.
