Paytm Focuses on UPI Lite Wallet for Everyday Payments: No PIN Required
company and the pioneer of QR, soundbox, and mobile payments, is now focusing on UPI Lite wallet to move the users who prefer wallet for low-value everyday payments. Paytm UPI Lite acts as an on-device wallet, allowing users to store funds and make payments on the go. It offers lightning-fast payments that never fail with no pin requirement.
Paytm’s UPI Lite wallet is designed for fast, secure, and reliable payments, allowing users to make instant, fail-proof transactions of up to ₹500 each. This service is especially useful for those who frequently handle small payments like buying groceries, paying for parking, or settling daily commute fares. It also keeps the bank statement clutter-free with only a single entry, regardless of the number of payments made, which is a significant convenience for users who prefer a clean financial overview. Moreover, users have the flexibility to add up to ₹2,000 to their wallet twice a day, reaching a total daily capacity of ₹4,000. This streamlined approach helps users manage their small daily expenses efficiently, without the hassle of multiple entries in their bank passbooks, with no pin requirement, ensuring an organized and simplified financial tracking.
Here are steps to enable UPI Lite payments on Paytm app
- Go to Paytm app, and click on ‘UPI Lite Activate’ icon on the homepage
- Choose the bank account that you want to use with UPI Lite
- Enter the amount you wish to add to UPI Lite to start the payments
- Validate the MPIN to create your UPI Lite account
- Your UPI Lite account is setup for easy, one-tap payments
Further, to make payments using UPI Lite wallet, simply scan any UPI QR code or enter the mobile number or choose one from the contacts list. The collaboration between One97 Communications Limited (OCL) and leading Payment System Providers (PSPs) such as Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank ensures a robust and reliable framework for your UPI transactions, facilitating seamless and uninterrupted payment experiences.
Paytm spokesperson 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. Paytm UPI Lite improves this experience, allowing for faster transactions at local stores, street vendors, and for regular purchases while keeping bank statements clear. We are committed to grow the UPI ecosystem in partnership with NPCI to every nook and corner of India.”