Now Online Transaction Without UPI Pin and Password, Know Limit and Other Information

UPI Pin News : The use of digital payment apps has increased rapidly. People use Paytm and PhonePe to make UPI payments. Now both the companies are working on a new feature. With this, the transaction can be completed without using the UPI PIN. This feature will be very useful in making instant payments.

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However, the transaction limit can be up to Rs.200 only. It has claim in the report that both the companies are in the advanced stage of integrating UPI Lite. The Economic Times has report about this quoting the source.

UPI Pin News : Paytm Can Bring Service First

It has claim in the report that first Paytm will release UPI Lite service for its app within a month. After this PhonePe will also introduce this service. If this happens, Paytm will become the first third-party app to issue UPI Lite service.

Benefit in These Transactions

Apart from this, it has also tell in the report that Fintech company Slice is also working to release UPI Lite service on its platform. With this, young customers can complete small amount transactions.

UPI Pin News : UPI Lite Was Launched Last Year

Let us tell you that the UPI Lite service was launch by the Reserve Bank of India last year. This allows users to transfer even low value amounts without internet or UPI PIN authentication. Payment up to Rs 200 has authorize through the wallet.

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NPCI had said in March last year that about 50 percent of the total UPI transactions are of Rs 200 or less. Its integration into third-party platforms will make such transactions much easier. Nothing has says about this from both the companies.