Google Pay Introduces UPI LITE Feature for Quick and Convenient Low-Value Transactions

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Google Pay Introduces UPI LITE Feature for Quick and Convenient Low-Value Transactions
15 Jul 2023
5 min read

News Synopsis

Google Pay Revolutionizes Low-Value Transactions with UPI LITE

In an effort to enhance user experience and streamline digital transactions, Google Pay has launched UPI LITE, a groundbreaking feature that eliminates the need for users to enter their UPI PIN for small-value transactions.

UPI LITE allows users to activate an account within the Google Pay app and add up to Rs 2000. This account is automatically selected for transactions valued at Rs 200 or less, provided there are sufficient funds available in the UPI LITE account.

Simplified Transaction Process

To enable UPI LITE on Google Pay, users need to set up the account by entering their UPI PIN. Once this account is created, users can complete transactions without the requirement of entering the UPI PIN each time.

This feature significantly reduces the steps involved in low-value transactions, making the payment process quicker and more convenient for users.

Improved Success Rates and Reliability

One of the key advantages of UPI LITE is its higher success rate, even during peak transaction hours. This account is linked to the user's bank account, ensuring seamless transactions without relying on the real-time availability of the issuing bank's core banking system.

As a result, users can expect a smooth payment experience, irrespective of the transaction load or time of day.

The Role of NPCI and RBI

The UPI LITE feature was introduced by the Reserve Bank of India (RBI) in September 2022 to simplify UPI transactions. The National Payments Corporation of India (NPCI) facilitates the implementation of UPI LITE, and currently, 15 banks support this feature. This collaboration between Google Pay, NPCI, and RBI reflects their shared commitment to promoting digital payments and advancing the adoption of UPI in India.

Google Pay's Commitment to Transforming Digital Payments

Ambarish Kenghe, VP Product Management at Google, expressed gratitude for the partnership with the Indian government, NPCI, and RBI in expanding the reach and convenience of UPI. Google Pay aims to drive further adoption of digital payments in India by introducing innovative offerings like UPI LITE.

By providing users with a seamless, compact, and lightning-fast payment experience, Google Pay contributes to simplifying low-value transactions and empowering individuals to embrace digital payments.

Accessing UPI LITE on Google Pay

Users can easily access UPI LITE by downloading the Google Pay app from the Play Store or App Store. The introduction of UPI LITE reaffirms Google Pay's commitment to providing users with innovative solutions that enhance their digital payment experience.

By introducing UPI LITE, Google Pay takes a significant step towards transforming low-value transactions, making them quicker, more efficient, and hassle-free. This feature aligns with the evolving needs of digital payment users and fosters the widespread adoption of UPI across India.

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