Google pay launches UPI LITE for low value transaction without UPI pin

Payments app Google Pay has launched UPI LITE which allows users to transfer small value payments without entering the UPI pin. The maximum amount that can be transfered using UPI Lite is Rs 4,000 per day.

The UPI LITE account can be activated within the same app. Users can add up to Rs 2,000 in one transaction to the account. The app will automatically choose LITE when an amount less than or equal to Rs 200 is being transfered subject to the availability of funds in LITE account.

'Pay PIN-Free' option can be used to complete transaction. But, to set up LITE account PIN must be entered.

The success rate of UPI LITE is expected to be higher as the transaction does not rely in real-time on the issuing bank's core banking system. Users would experience higher success rate even during peak transaction hours.

As per the National Payments Corporation of India (NPCI), the Reserve Bank of India (RBI) launched the UPI LITE feature in September 2022 to ease the UPI transaction process. The NPCI enables the feature, and 15 banks support it.