Paytm Enables Quick Payments And Provides Up To $100 In Reward With Activation Of UPI LITE.
On the first activation of a Paytm UPI LITE balance, Paytm is promising a welcome cashback of up to 100 rupees. UPI LITE on the Paytm App allows for instantaneous real-time transactions with only one click without the need for the UPI PIN. Users can make numerous small-value UPI payments with UPI LITE without being concerned about a cap on the number of bank transactions. This makes it possible to make payments without difficulty. Daily small value transfers are incredibly quick because to UPI LITE’s safe on-device balance, which does away with the requirement to input the UPI PIN for each payment.
Once loaded, a UPI LITE enables a user to perform instant transactions of up to 200 rupees, speeding up and enhancing the overall process. Two additions of no more than 2,000 can be made to UPI LITE per day, bringing the daily use total to 4,000.
Moreover, payments performed with UPI LITE clean up the passbook in the bank. The Paytm balance and history section would now display these small value transactions. Users would receive a daily transaction history of all UPI LITE payments via an SMS from their banks, according to NPCI.
As the largest acquiring and beneficiary bank as well as one of the top remitter banks, Paytm Payments Bank continues to be a market leader in UPI. Paytm is the industry leader in terms of speed and success rate for UPI payments. The Bank launched UPI LITE as the first payments bank in an effort to promote innovation.
With more than 1,765.87 million transactions in January 2023, Paytm Payments Bank surpassed all other significant banks in the nation to maintain its dominance as the largest UPI beneficiary bank for 20 consecutive months. According to the most recent NPCI statistics, the Bank is among the top 10 remitter banks for UPI transactions with 389.61 million recorded transactions. The National Electronics Toll Collection (NETC) FASTag is issued and acquired by PPBL, one of the top issuers and acquirer banks. PPBL executed 47.71 million transactions as an acquirer bank and 58.34 million transactions as an issuer bank in January 2023.
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