Paytm UPI LITE now active on these 10 banks for lightning-fast payments

byPreeti VermaMarch 24, 2023

Paytm UPI LITE has transformed small-value payments in India. Our associate Paytm Payments Bank has enabled real-time lightning-fast UPI payments with Paytm UPI LITE. With just a single-click, multiple payments up to ₹200 can be made. These payments never fail even when banks have success rate issues during peak transaction hours.

The success rate of transactions via Paytm UPI LITE is improved further as it is designed to reduce the load on bank systems for small-value payments. Another benefit of India’s most innovative tech company which revolutionised mobile payments in India is that it also works in limited or low connectivity areas.

Currently, 10 banks support Paytm UPI LITE — Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank.

Paytm Payments Bank is a leader in UPI Peer to Merchant (P2M) payments as the largest acquiring and beneficiary bank as well as a leading remitter bank.

Paytm Payments Bank Spokesperson said, “We have achieved the 2 million users milestone as users enjoy lightning-fast UPI payments that never fail. We remain committed to driving financial inclusion in India and empowering the grassroots of the country with robust digital payment solutions.”

Paytm UPI LITE is a secure ‘on-device’ balance that is linked to the user’s bank account. It makes a single entry in the user’s bank account, decluttering bank statements. It is powered by the latest UPI LITE Technology for successful payments, which offers 3-level bank-grade security.

Preeti Verma

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