Paytm Focuses on UPI Lite Wallet for Everyday Payments: No PIN Required, Add Up to ₹4,000 Daily, De-Clutter Bank Statement

byPreeti VermaLast Updated: May 13, 2024

We are now focusing on UPI Lite wallet to move our users who prefer wallet for low-value everyday payments. Our UPI Lite acts as an on-device wallet, allowing users to store funds and make payments on the go. It offers lightning-fast payments that never fail with no pin requirement. 

Our UPI Lite wallet is designed for fast, secure, and reliable payments, allowing users to make instant, fail-proof transactions of up to ₹500 each. This service is especially useful for those who frequently handle small payments like buying groceries, paying for parking, or settling daily commute fares. It also keeps the bank statement clutter-free with only a single entry, regardless of the number of payments made, which is a significant convenience for users who prefer a clean financial overview. Moreover, our users have the flexibility to add up to ₹2,000 to their wallet twice a day, reaching a total daily capacity of ₹4,000. This streamlined approach helps our users manage their small daily expenses efficiently, without the hassle of multiple entries in their bank passbooks, with no pin requirement, ensuring an organised and simplified financial tracking.

Here are steps to enable UPI Lite payments on Paytm app

  1. Go to Paytm app, and click on ‘UPI Lite Activate’ icon on the homepage
  2. Choose the bank account that you want to use with UPI Lite
  3. Enter the amount you wish to add to UPI Lite to start the payments
  4. Validate the MPIN to create your UPI Lite account
  5. Your UPI Lite account is setup for easy, one-tap payments 

Further, to make payments using UPI Lite wallet, simply scan any UPI QR code or enter the mobile number or choose one from the contacts list. The collaboration between our parent company, One97 Communications Limited (OCL), and leading Payment System Providers (PSPs) such as Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank ensures a robust and reliable framework for their UPI transactions, facilitating seamless and uninterrupted payment experiences.

“We see the wallet as an essential payment tool that lets users keep money for everyday use and make quick payments on the go. Paytm UPI Lite improves this experience, allowing for faster transactions at local stores, street vendors, and for regular purchases while keeping bank statements clear. We are committed to grow the UPI ecosystem in partnership with NPCI to every nook and corner of India.”

Paytm spokesperson said

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