Wed. Jul 24th, 2024

13 May 2023    Paytm Payments Bank has gone live with Paytm UPI Lite on iOS platforms, empowering iPhone users with lightning-fast payments that never fail. UPI Lite is a feature enabled by the National Payments Corporations of India (NPCI) for faster, multiple small-value UPI payments. Paytm Payments Bank was the first payments bank to go live with UPI Lite on the Paytm Super App and already has almost 6 million users.

With Paytm UPI Lite, seamless, secure and superfast transactions can be done even during peak hours when banks have success rate issues. Once loaded, UPI Lite allows a user to do instant transactions of up to ₹200, making the entire experience secure and seamless. A maximum of ₹2,000 can be added twice in a day to UPI Lite, making the cumulative daily usage up to ₹4,000.

Paytm UPI Lite is secured by Paytm’s 3-level bank-grade security. To offer convenience, individual payments made through UPI Lite are not shown in the bank passbook, offering a clean bank statement with only a single entry for adding UPI Lite balance.

Currently, 13 banks support Paytm UPI Lite — Paytm Payments Bank, ICICI Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank.

Paytm Bank is the leader in UPI payments with the highest market share in P2M (peer-to-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.

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