The UPI Lite X feature was introduced at the recently held Global Fintech Fest.
The Unified Payments Interface (UPI) has been gaining immense popularity in India for its unparalleled convenience in transferring funds. Gone are the days when sending money meant a visit to the bank; now, it’s just a click away through UPI apps like PhonePe, BHIM, or Paytm.
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However, one prerequisite has always been access to the internet. But now, even without an internet connection, individuals can seamlessly transfer money through UPI, thanks to the National Payment Corporation of India (NPCI) and their innovative feature – UPI Lite X.
This groundbreaking feature was unveiled during the Global Fintech Fest and operates with Near Field Communication (NFC) support. For individuals with NFC-enabled smartphones, UPI Lite X opens up a world of possibilities, allowing them to conduct offline UPI transactions with ease. It’s important to note that this feature is currently exclusive to Android devices and is not compatible with iPhones.
To initiate the use of UPI Lite X, both the sender and receiver need to have the latest version of the BHIM app installed on their Android devices equipped with NFC support. The setup process is straightforward:
Open the BHIM app and navigate to the ‘UPI Lite X Balance’ menu.
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Tap on the ‘Enable’ button.
Activate offline transactions by toggling the tick box and clicking ‘Enable Now.’
The app will prompt you to fund your UPI Lite wallet; input the desired amount.
Select the ‘Enable UPI Lite X’ button.
Enter your UPI PIN.
After successfully adding funds to your wallet, you can commence using UPI Lite X for offline transactions.
Reports indicate that UPI Lite payment transactions have an upper limit of Rs 200, while the maximum UPI Lite balance for on-device wallets is capped at Rs 2,000 at any given time.
Excitingly, eight prominent banks have embraced the UPI Lite X feature, expanding accessibility to this revolutionary service.
These include Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank.
