The National Payments Corporation of India (NPCI) recently implemented significant changes to UPI Lite, unveiling enhanced capabilities to facilitate smoother small-value transactions, effective from November 1. These include a raised transaction limit of ₹1,000 without needing a PIN, double the previous threshold, along with an increased wallet balance limit of ₹5,000, providing users with more convenience and flexibility for daily spending necessities such as groceries and transport.
Another notable addition to UPI Lite is the introduction of an auto top-up function, which streamlines the payment process by allowing users to create a mandate for automatic fund transfers from their bank to their UPI Lite wallet when the balance drops below a specified level. Users can set up to five automatic recharges daily, eliminating the need for manual intervention and ensuring the wallet is always ready for use. These enhancements seek to enhance the efficiency and user-friendliness of small-value digital transactions conducted through UPI Lite, offering a practical and seamless solution for swift, PIN-free payments.
The updates from NPCI aim to make UPI Lite a more appealing choice for users seeking quick, hassle-free digital payment solutions for everyday transactions. By expanding transaction limits and integrating automated wallet top-ups, UPI Lite is positioned to cater to a wider range of payment needs, enhancing convenience and ease of use for users in their daily financial transactions.