Key Points
- Paytm launched an automatic top-up feature for UPI LITE transactions.
- The feature supports PIN-less payments for amounts under ₹500.
- It’s available for Yes Bank and Axis Bank customers.
- UPI LITE allows up to ₹2,000 in daily transactions for small purchases.
- Users can now download UPI statements to track their transactions.
- Paytm’s UPI service works with major Indian banks and is available in several countries, including the UAE and Singapore.
Looma News
Paytm has rolled out a new auto top-up feature for its UPI LITE service, making it easier and faster to handle small transactions under ₹500. The feature lets users pay without a PIN and automatically adds money to the UPI LITE balance when it goes below a set amount. Currently, this feature is available to users with Yes Bank and Axis Bank accounts.
UPI LITE is built for small, everyday payments like transportation, groceries, and other daily expenses. Users can make up to ₹2,000 worth of transactions each day without needing to enter their PIN. The service uses a separate wallet on the user’s device to keep these small payments from cluttering their main bank account, making it easier to track spending.
In addition, Paytm has added a feature that lets users download their UPI statements to keep track of all their transactions, including those made through UPI LITE. This makes it easier for users to review their digital spending and stay organized. Payments are processed through the on-device wallet, so users can keep their main bank account separate from smaller transactions.
Paytm’s UPI service works with a number of major Indian banks, including State Bank of India, HDFC Bank, Axis Bank, and Yes Bank. The service is also available in countries like the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.
As of 11:17 am 25 Nov, shares of Paytm’s parent company, One 97 Communications Limited, were trading at ₹891.70, down by ₹9.25 or 1.03% on the NSE.
