Google Pay rolls out UPI LITE feature for faster, low-value transactions

Payments app Google Pay on Thursday launched UPI LITE, allowing users to make micro payments without having to enter their UPI PIN.

Users can activate a UPI LITE account within the same app and add up to Rs 2,000, with an associated daily limit of Rs 4,000. The app will default this UPI LITE account to transaction values ​​less than or equal to Rs 200, subject to availability of funds in the UPI LITE account.

Users can use the ‘Pay PIN-Free’ option to complete the transaction without having to enter the UPI. However, users have to enter a UPI PIN while setting up a UPI LITE account, according to the National Payments Corporation of India (NPCI) website.

UPI LITE promises higher success rates for users even during peak hours because this account is linked to the user’s bank account but is not based in real time on the underlying banking system of the issuing bank.

The Reserve Bank of India (RBI) launched the UPI LITE feature in September 2022 to facilitate the UPI transaction process. NPCI enables this feature, and 15 banks support it, the company said in a statement.

“At Google Pay, we feel privileged to partner with the Government of India along with the NPCI and RBI, in increasing the reach and usefulness of UPI. Unique offerings and use cases are key to driving further adoption of digital payments in the country and with the introduction of UPI LITE on the platform, we aim to aims to simplify small-value transactions by helping users access a convenient, compact and ultra-fast payments experience,” said Ambaresh Kangi, Vice President of Product Management, Google.

Users can download the Google Pay app from the Play Store or App Store.