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Paytm, operated by One97 Communications, has launched UPI Lite auto top-up feature to simplify daily microtransactions. The new functionality ensures automatic balance recharge when it drops below a pre-set limit.
What is UPI Lite?
UPI Lite is a feature introduced by the National Payments Corporation of India (NPCI) to facilitate small-value transactions directly from an on-device wallet linked to a user’s bank account. It eliminates the need for OTP or PIN for payments under ₹500.
Users can load up to ₹2,000 into their UPI Lite wallet and can spend up to ₹2,000 daily.
How Paytm UPI Lite auto top-up works
Key use cases
UPI Lite auto top-up is ideal for recurring, small-value payments such as:
The feature is currently available for UPI handles on Yes Bank and Axis Bank, with plans to roll out to other partner banks like SBI and HDFC Bank in the near future.
Steps to enable Paytm UPI Lite auto top-up
Market update on Paytm's parent company
This launch comes at a time when Paytm's parent company is witnessing growing investor confidence and market momentum.
Global brokerage Bernstein raised its target price for the stock from ₹750 to ₹1,000, highlighting potential long-term growth fueled by regulatory tailwinds, improved payment processing margins, and expansion in lending services.
The fintech major reported a consolidated profit of ₹928.3 crore in Q2 FY25, a sharp turnaround from a loss of ₹290.5 crore a year ago.
The stock has surged 34% this year and 136% over six months.
What is UPI Lite?
UPI Lite is a feature introduced by the National Payments Corporation of India (NPCI) to facilitate small-value transactions directly from an on-device wallet linked to a user’s bank account. It eliminates the need for OTP or PIN for payments under ₹500.
Users can load up to ₹2,000 into their UPI Lite wallet and can spend up to ₹2,000 daily.
How Paytm UPI Lite auto top-up works
- Users can set a minimum wallet balance threshold. When the balance falls below this limit, it is automatically recharged from the linked bank account.
- Each payment can be up to ₹500, with a cumulative daily spending cap of ₹2,000.
- Transactions are processed via the UPI Lite wallet.
Key use cases
UPI Lite auto top-up is ideal for recurring, small-value payments such as:
- Daily commutes: Metro, bus, or auto rides..
- Food & Beverages: Tea, coffee, and snacks.
- Utility payments: Groceries, subscriptions, or small bills.
The feature is currently available for UPI handles on Yes Bank and Axis Bank, with plans to roll out to other partner banks like SBI and HDFC Bank in the near future.
Steps to enable Paytm UPI Lite auto top-up
- Enable UPI Lite on the Paytm app by linking your bank account.
- Select a minimum balance limit and a recharge amount for automatic top-ups.
Market update on Paytm's parent company
This launch comes at a time when Paytm's parent company is witnessing growing investor confidence and market momentum.
Global brokerage Bernstein raised its target price for the stock from ₹750 to ₹1,000, highlighting potential long-term growth fueled by regulatory tailwinds, improved payment processing margins, and expansion in lending services.
The fintech major reported a consolidated profit of ₹928.3 crore in Q2 FY25, a sharp turnaround from a loss of ₹290.5 crore a year ago.
The stock has surged 34% this year and 136% over six months.
First Published: Nov 25, 2024 9:16 AM IST
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