Now Make Payments Faster With Paytm UPI Lite: Transactions worth lakhs of crores of rupees are being done every month through the Unified Payment Interface ie UPI. During this, many times technical problems related to UPI transactions also keep coming.
To get rid of this problem, the National Payments Corporation of India (NPCI) introduced the light version of UPI – UPI Lite in September 2022. UPI Lite is able to work faster for small transactions as compared to the standard version. At present PayTM has implemented this new and lighter version on its own payment platform. If you use PayTM’s UPI for fulfilling everyday needs and for its transactions, then you need to know about Paytm’s new UPI Lite. Here’s how to use this new version.
Setup Paytm UPI Lite like this
- First open the Paytm app.
- After this, touch on the “UPI Lite Set Up Now” option visible on the screen.
- Now select the bank account with which you want to connect UPI Lite and click on proceed option to setup UPI Lite.
- Now you will be asked to add money in UPI Lite. In this you can add any amount between Rs 1 to Rs 2000.
- Once this is done, you can start using Paytm UPI Lite to make any payment.
Pay like this through Paytm UPI Lite
- Take the QR code from whomever you want to pay and scan it or select the contact number on which you want to make the payment.
- After this add amount.
- Then click on the “Pay Securely” option appearing on the screen at the bottom.
- As soon as you do this, a certain amount in the amount lying in your UPI Lite will be transferred to the account from the related QR code or contact number. No UPI PIN will be asked from you in this entire process.
This is how a user activating for the first time will get a cashback of Rs 100.
Currently, Paytm is supporting UPI Lite with Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank. According to the released poster, users who are activating Paytm UPI Lite for the first time. If they add Rs 1,000 through the UPI Lite feature, they get up to Rs 100 cashback as an instant reward.
