Google payments app Google Pay launched UPI LITE on its platform on Thursday to simplify digital transactions for small amounts
Post Date – 11:52 PM, Thursday – July 23rd 13th
New Delhi: Google’s payment app Google Pay on Thursday launched UPI LITE on its platform to simplify digital transactions of small amounts.
The search engine giant said UPI Lite allows users to load up to Rs 4,000 in a day with a one-time transaction limit of Rs 200.
It was designed by the National Payments Corporation of India (NPCI) to allow small transactions without entering a UPI PIN.
According to the company, the UPI LITE account is linked to the user’s bank account, but does not rely on the core banking system of the issuing bank in real time, so the payment success rate is higher even during peak transaction hours, and the bank passbook is less confusing.
Users can activate the feature by logging into the Google Pay app and visiting their profile page, after which they have to tap “Activate UPI LITE”. According to the NPCI website, Google has launched the service on its platform along with companies such as BHIM, Paytm and PhonePe along with 15 banks including HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Punjab National Bank.
Ambarish Kenghe, vice president of product management at Google, said that unique products and use cases are at the heart of driving further adoption of digital payments in the country.
“By launching UPI LITE on the platform, we aim to simplify small-value transactions by helping users have a convenient, compact and ultra-fast payment experience,” said Kenghe.
The RBI rolled out the feature in September 2022.
