Paytm is one of the first digital payment apps to start offering UPI Lite services to users. UPI Lite is a toned-down version of UPI, short for Unified Payments Interface, which works even without internet connectivity for low-value transactions of up to Rs 200. UPI Lite makes sending payments of minor values easier by removing the need to enter the UPI pin. It is possible because the UPI Lite service uses a wallet to store money authenticated once. Also Read - Paytm UPI Lite has over 2 miliion users and witnesses more than half a million daily transactions
You can use the UPI Lite service on Paytm for Android. Paytm announced the launch of UPI Lite services only for Android in beta, while the iOS counterpart is “coming soon.” If you frequently make low-value transactions, using UPI Lite can be convenient. Here is how to set up UPI Lite for your Paytm account on an Android phone. Also Read - Paytm Payments Bank users can now pay using UPI Lite
How to set up UPI Lite on the Paytm Android app
— Open the Paytm app on your Android phone. Also Read - UPI Lite to be available on iOS in the two-three weeks: Paytm's Shreyas Srinivasan
— If you do not have an account, make one and then proceed with the rest of the steps. If you have an account, make sure you are logged into your account.
— On the home screen, you will see UPI Lite tab along with the option to “Add money.”
— Tapping the banner will take you to the UPI Lite services where you will see accounts compatible with the service. As of writing this article, Paytm Payments Bank and ICICI Bank did not “support UPI Lite.”
— If the bank account you have added to Paytm supports the UPI Lite service, you will see the option to use the same account to “add money to your UPI Lite balance.”
— After choosing the account, tap “Next” and then enter the amount not more than Rs 2,000 you want to add to the wallet. You will see some values suggested below the text field and tapping them will automatically fill the text field with that amount.
— Now, tap “Add Money to UPI Lite” and enter your UPI Pin for authentication. After successful authentication, the entered amount will be deducted from your bank account and added to the UPI Lite wallet.
— You can use UPI Lite to pay a merchant or anyone with a QR code just like how you use regular UPI. Paytm says UPI Lite works “even when regular UPI payments are failing” and that, too, without a PIN for transactions of up to Rs 200.