Nucleus_AI ( )
Paytm Payments Bank has unveiled a groundbreaking feature – UPI Lite for iOS platforms. This new addition, along with RuPay Credit Card on UPI and Split Bill, promises to enhance user convenience and revolutionize the digital payment experience. Since the initial launch of UPI Lite in February 2023, the feature has already been embraced by an impressive six million users.
UPI Lite, a simplified version of the Unified Payments Interface (UPI) payment system, has been developed by the National Payments Corporation of India (NPCI) to facilitate small-value transactions. The feature enables users to make secure and fast transactions without the need to enter a UPI PIN. Paytm UPI Lite is supported by multiple banks, including Paytm Payments Bank, ICICI Bank, HDFC Bank, SBI, and Kotak Mahindra Bank.
In addition to UPI Lite, Paytm has introduced new features that further streamline the payment process. Users can now link their RuPay credit cards to their UPI ID on the Paytm app, while the Split Bill feature allows them to create friend groups and easily share bills within the group. Paytm users can also tag their payments for convenient tracking and viewing at any time.
Vijay Shekhar Sharma, amidst the buzz surrounding Paytm’s latest features, took to Twitter to share his excitement. In his tweet, he emphasized the importance of not letting money hinder friendships, announcing the introduction of the Split Bill feature. He outlined two possible ways to use the feature: either split every payment made or create a group of friends and continuously split payments among the group.
Paytm has consistently proven its dedication to improving user experience by refining its features and simplifying payment processes. The groundbreaking UPI Lite feature, launched in February, has been a massive success, achieving its primary goal of streamlining payments and reducing payment failures. Users can now make payments of up to Rs 200 without entering a PIN, and up to Rs 2,000 can be added to UPI Lite twice daily, with a total daily limit of Rs 4,000.