×
Videos Agriculture Health Business Education Positive Breaking Sports Ansuni Gatha Advertise with Us Catch The Rainnew More
HOME >> TECH

TECH

Here’s a payment method that allows you to pay without PIN or internet

by Rishika Choudhury

Date & Time: Sep 28, 2022 9:00 AM

Read Time: 2 minute



Online payment without PIN or internet! Strange right? But now it’s possible. Reserve Bank of India (RBI) Governor Shaktikanta Das launched Unified Payments Interface (UPI) Lite on September 20, in a bid to make low-value UPI payments faster.

It is an on-device wallet feature that will allow users to make real-time small-value payments of up to Rs 200 without entering a UPI PIN. Users must transfer money from their bank accounts to the UPI Lite wallet. Because it is an on-device wallet, users will not need the internet to make real-time payments. At the moment, only debits from wallet are permitted, and all credits to UPI Lite, including refunds, will be transferred directly to your bank account.

Transaction limit for UPI Lite

The upper limit for payments has been set at Rs 200, according to a press release issued by National Payments Corporation of India (NPCI). According to the NPCI website, users will not need a UPI PIN to make payments less than Rs 200. According to the press release, the total limit of UPI Lite balance for an on-device wallet will be Rs 2,000 at any given time.

Union Bank of India also issued a press release on the day of UPI Lite's launch, stating that users can conduct an unlimited number of transactions per day.

Can you use UPI Lite without the internet?

UPI Lite will process transactions in near-offline mode during phase 1 of its rollout. This means that debit payments can be made without an internet connection, but credit payments must be made through an internet connection. However, UPI Lite is expected to go completely offline in the future, allowing debit and credit payments to be processed completely offline.

How will it benefit the users?

The new interface will offer users a simple and quick solution for low-value transactions. Customers will no longer be required to lose money. It will also give customers an advantage by ensuring that no transactions fail, even during peak hours.

How to add funds?

The funds will only be added only in online mode and users will need internet connectivity with additional factor authentication, AFA or by using UPI AutoPay, which has been registered by the user in online mode with AFA.

Also Read: UPI पेमेंट हुआ और भी आसान, देखें क्रेडिट कार्ड से कैसे कर सकेगें UPI ट्रांजेक्शन!

You May Also Like


Comments


No Comments to show, be the first one to comment!


Leave a comment

Your email address will not be published. Required fields are marked *