Big news for those doing UPI through Google Pay, PhonePe, Paytm – India TV Hindi

There is big news for those making UPI payments through Google Pay, PhonePe, Paytm. NPCI is going to make two important changes in UPI Lite from November 1, 2024, which will benefit the users. From November 1, users will now be able to make more payments through UPI Lite than before. RBI has increased the transaction limit of UPI Lite. At the same time, if the balance of UPI Lite is less than a certain limit, the user’s account will be auto top-up automatically. With this, payment can be made without any restriction through UPI Lite.

What is UPI Lite?

All UPI payment platforms including Google Pay, PhonePe, Paytm offer UPI Lite feature. UPI Lite is a digital wallet, which gives the freedom to make small transactions without PIN or password. To add money to UPI Lite wallet, users have to top-up manually. After the new rules come into effect from November 1, users’ wallet will be automatically topped up.

National Payment Corporation of India (NPCI) has launched the UPI Lite feature some time ago. Users get a limit to top up up to Rs 2,000 in this wallet. Through UPI Lite, users can make small payments without PIN. NPCI had announced the auto-pay balance feature for UPI Lite by issuing a notification on 27 August 2024.

Auto-Pay Balance Service

To activate the auto-pay balance service in UPI Lite, users will have to enable it by October 31, 2024. Users will have to set a minimum limit in the account linked to the UPI Lite wallet. As soon as the minimum amount in the wallet is reached, the wallet will be automatically topped up from the user’s account. NPCI has set a maximum limit of Rs 2,000 for UPI Lite. Also, users will not be able to do more than 5 top-ups in their UPI Lite wallet in a day. If a user has not opted for the auto-pay balance facility, they will be able to top-up their UPI Lite wallet manually.

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