India’s homegrown Paytm Payments Bank is currently the only platform to exclusively offer UPI LITE payments, which enables faster real-time transactions with a single tap on the Paytm app. Paytm UPI LITE will never fail even during peak transaction hours, even when banks have success rate issues.
Paytm UPI LITE, enabled by NPCI, enables users to carry out small-value UPI transactions without using a PIN. It provides a superfast, convenient, and hassle-free transaction experience as users don’t have to enter a PIN every time they make a payment. Users can transfer UPI balance back to the same bank account anytime, without any charges. To drive adoption Paytm is offering ₹100 cashback to users for activating and adding ₹1000 as a balance.
Paytm UPI LITE is supported by 9 banks, including Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India and Utkarsh Small Finance Bank. Paytm Payments Bank is a leader in UPI Peer to Merchant (P2M) payments. Paytm Payments Bank Spokesperson said, “With Paytm UPI, payments never fail, transactions are superfast and you don’t see clutter in your bank statement.”
