Key Highlights
- PhonePe UPI Lite is now active for all users
- Allows money transfer of up to Rs. 200 without entering UPI pin
- Money will be deducted from UPI Lite account
UPI Lite is the new trend in the digital money transfer field. Introduced back in September 2022, the UPI Lite has been developed and launched by NPCI (National Payments Corporation of India) and RBI respectively to further simplify the online money transaction process for lower amounts.
Previously Paytm released the UPI Lite feature on its platform allowing money transfers of up to Rs. 200 without entering the UPI pin. Now, rival app PhonePe has also joined the bandwagon and released PhonePe UPI Lite in India. How does the PhonePe UPI Lite work and what steps do you need to send lower amounts of up to Rs. 200 without entering a UPI pin? Let’s know the details:
Also Read: Paytm Lite: What Is It? How To Setup And Use Paytm Lite On Smartphones?
PhonePe UPI Lite: What All It Offers?
The PhonePe UPI lite is essentially identical to the Paytm UPI lite where users will be able to conveniently transfer up to Rs. 200 with a single tap. There won’t be any need to enter the UPI PIN. Only if the amount that is being transferred is more than Rs. 200, users will need to enter the UPI Pin.
However, one would need to set up a UPI Lite account to use this service. For the money transfer, the money will be deducted from the UPI Lite balance that is available on the device. The UPI Lite system won’t directly include the customer’s core banking system for the money transaction process. The UPI Lite is primarily designed to make the low-value transaction process simple and quick for the users.
How To Use PhonePe UPI Lite To Send Rs. 200 Without Entering Pin?
Step 1: Open the PhonePe app on your smartphone.
Step 2: On the home page scroll down to see the UPI Lite option. Tap on it.
Step 3: Enter the amount that will be saved as UPI Lite balance and will be used later for quick money transfers.
It is worth noting that one wouldn’t need to complete any KYC to use the PhonePe UPI Lite services. And the maximum amount that one can add as an advance balance in the UPI Lite app is up to Rs. 2,000.
Also Read: How Can You Delete Paytm Transaction History From Your Android And iOS Device
