Startup News Magazine

Paytm UPI LITE crosses 2 million users

With over half a million daily transactions 

New Delhi: India’s homegrown Paytm Payments Bank announced that it now has over 2 million users on Paytm UPI LITE. The Bank has recorded over half a million daily transactions for Paytm UPI LITE through the Paytm app, a testament to its rising popularity.

–       Enables lightning-fast payments that never fail for payments up to 200.

–       Works with on-app UPI-Lite balance making lightning-fast payments that never fail, even during peak banking hours.

Paytm UPI LITE brings single-click payments that never fail even when banks have success rate issues during peak transaction hours. Once loaded, UPI LITE allows users to make instant payments of up to ₹200, making the entire experience seamless. A maximum of ₹2,000 can be added twice a day to UPI LITE, making the cumulative daily usage up to ₹4,000.

Paytm UPI is powered by the latest UPI LITE Technology for successful payments and offers 3-level bank-grade security. Additionally, payments made using UPI LITE will not be shown in the passbook, offering an uncluttered bank statement for the user. It records only a single entry when adding money to UPI LITE balance.

Paytm Payments Bank Spokesperson said, “We have seen great adoption of Paytm UPI LITE, having crossed the milestone mark of over 2 million users within a short span of time. With Paytm UPI, we bring lightning-fast payments that never fail, powered by the latest UPI LITE technology and the security of Paytm Payments Bank.”

Paytm Payments Bank is #1 in UPI as the largest acquiring and beneficiary bank along with being one of the leading remitter banks. As the first payments bank to launch UPI LITE, the Bank continues in its tradition of building technology-led innovative solutions for its users, revolutionising everyday transactions.

How to set up Paytm UPI LITE?

  1. Open Paytm app and click on the ‘UPI LITE’
  2. Select the ‘Bank Account’ that is eligible for UPI LITE and tap on ‘Proceed’
  3. Enter the amount to be added to UPI LITE on ‘Add Money to Activate UPI LITE’ page
  4. Once done, users can begin using Paytm UPI LITE