Finally, the bank has said that the iOS platform would accept Paytm UPI Lite. iPhone users will now have the option to conduct safe and quick transactions without a UPI PIN. Additionally, it supports UPI Lite for iOS, which gives Paytm access to a number of new services including split bills, alternate UPI IDs that hide mobile numbers, and RuPay Credit Card on UPI.
The UPI (UPI Lite Unified Payments Interface) payment system
has a reduced version called UPI Lite, which was introduced by NPCI in September 2022. It is made to speed up and simplify small-value transactions, such as paying for groceries or one low-value item.
What is UPI Lite
A mobile wallet called UPI Lite allows users to send and receive payments up to Rs. 2000 and hold an additional Rs. Both Paytm and a number of other well-known payment apps, such as Phone, offer this feature. Paytm, however, was the first bank to introduce UPI Lite in its own app. It is now also accessible on the iOS operating system.
Once UPI Lite is configured, the user is free to conduct secure, immediate transactions up to Rs. 200. A user can add up to Rs 2,000 to UPI Lite twice daily, allowing for a daily usage cap of Rs 4,000.
Using Paytm UPI Lite on an iPhone
- Get the Paytm app.
- On the home screen, click the ‘UPI Lite’ icon.
- Type in and verify your bank account information.
- Fill up your UPI Lite Wallet with cash.
- Choose the ‘UPI Lite’ option to complete the transaction.
- The recipient’s UPI ID or a QR code can be entered.
- Type in the sum you want to pay.
- Press the ‘Pay’ button.
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