After
Paytm Soundbox, QR Code, and Wallet, India’s leading payments and financial services company, Paytm, has taken mobile payments to one notch higher with
Paytm UPI Lite that aims to further drive this revolution across the country. The company has seen the acceptance of UPI growing dramatically which made everyday payments hassle-free, quick and seamless for users. Following which Paytm Payments Bank launched
Paytm UPI Lite, which is one of the biggest innovations that will propel UPI to the next level.
As per the data from
NPCI, more than 50% of total India’s UPI payments are of less than ₹200 in value, and for these small value payments, users have a huge scope to use Paytm UPI Lite, which has so far proved to be a game changer in the mobile payments industry. The Bank has enabled UPI Lite for about 60 lakh users since its launch in February 2023, as these payments never fail even when banks have success rate issues during peak transaction hours.
Users can do instant transactions of up to ₹200 in a single click making the entire experience secure and seamless. In addition to this, users rely on Paytm UPI Lite because it provides a superior and reliable user experience which is secured by Paytm's 3-level bank-grade security.
Moreover, the chances of transaction failure are also lower, making it a more dependable option for payments. Offering convenience, users can utilise their UPI Lite balance to make superfast UPI payments to any UPI QR, send money to any mobile number, or even transfer to one’s own self bank accounts linked to Paytm Super App through the self-transfer option.
Paytm Payments Bank is the leader in UPI payments with the highest market share in merchant payments as the largest acquiring bank. It has remained the top UPI beneficiary bank for 22 months in a row, along with being one of the leading remitter banks.
Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in
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