Google Pay has launched UPI Lite, a new feature that is designed to boost small value transactions. UPI Lite allows users to make payments of up to Rs. 200 without having to enter a PIN. This is a significant reduction from the current limit of Rs. 100.

UPI Lite works by using a simplified authentication process that does not require users to enter their PIN. Instead, users simply need to approve the payment by tapping on a notification. This makes UPI Lite much faster and easier to use, especially for small value transactions.

UPI Lite is currently available in India and is supported by over 15 banks. Google Pay says that it plans to roll out UPI Lite to more countries in the future.

The launch of UPI Lite is a major boost for the adoption of digital payments in India. Small value transactions account for a significant proportion of all transactions in India, and UPI Lite makes it much easier and faster to make these transactions. This is likely to lead to an increase in the number of people using digital payments in India.

Here are some of the key benefits of UPI Lite:
  • It is faster and easier to use than traditional UPI payments.
  • It is more secure, as users do not need to enter their PIN for every transaction.
  • It is more affordable, as it does not require users to pay any additional charges.

UPI Lite is a significant development in the field of digital payments. It is a more convenient, secure, and affordable way to make small value transactions. This is likely to lead to an increase in the number of people using digital payments in India