Paytm Introduce UPI Lite Wallet, Offers Seamless and Faster Transactions

Paytm Introduce UPI Lite Wallet: Paytm Owner plans to focus on UPI (Unified Payment Interface) Lite Wallet.

The motive behind OCL such development is to provide a smoother experience to the user who uses a wallet to make low value payments.

According to the reports, Paytm UPI Lite is a wallet but it offers after payment service without any need for Pin.

Paytm UPI Lite has a daily limit of Rs 4000 and can make payment up to Rs 500. It’s mainly meant for our daily need such as buying food, groceries, Recharge etc.

In a statement Paytm spokesman said, "We see the wallet as an essential payment tool that lets users keep money for everyday use and make quick payments on the go.”

He further added, “Paytm UPI Lite improves this experience, allowing for faster transactions at local stores, street vendors, and for regular purchases while keeping bank statements clear."

Besides that, it keeps a organized bank statement, condensing multiple payments into a single entry for users who like to keep track of their finances.

On behalf of this NPCI said,” UPI LITE experience is intended to be a customer-friendly approach to enabling low value transactions without utilising a remitter bank’s core banking systems in real-time."

Paytm also revealed in a statement that it is collaborating with the bank partners to make UPI transactions seamless and faster.