Author: Subharthi Bayen
Date: May 6, 2023
Time: 11 am
PhonePe has launched the UPI LITE feature on its application
Now users can quickly initiate low-value payments of up to Rs 200 from their UPI LITE account with just one tap, without the need to enter a PIN.
The transaction is processed instantly by deducting the UPI LITE balance on the device, without involving customer’s bank
The LITE account allows users to load a maximum of Rs 2,000 and conduct transactions of Rs 200 or less.
In addition, this feature helps to simplify bank statements and passbooks by removing small-value transactions.
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