Google Pay rolling out PIN-free payments through UPI LITE
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New Delhi: Google Pay, Google's payment app on Thursday announced the introduction of UPI LITE on its platform to ease small digital transactions.
The new feature allows small transactions without the need for entering UPI PIN.
UPI LITE, designed by the National Payments Corporation of India (NPCI), allows users to load up to Rs 4,000 in a day for instant transactions limited to Rs 200 in one go.
To activate the feature on the Google Pay app, users can simply go to their profile page and tap on the UPI LITE activation button.
According to the company, UPI LITE accounts are linked to user's bank accounts but do not rely real-time on the issuing bank's core banking system, resulting in higher payment success rates even during peak transaction hours, and a less cluttered bank passbook.
" Google joins the likes of BHIM, Paytm, and Phonepe and 15 banks, including HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Punjab National Bank to launch the service on its platform,” as per the NPCI website.
Ambarish Kenghe, VP Product Management at Google, said that unique offerings and use cases are core to driving further adoption of digital payments in the country.
"With the introduction of UPI LITE on the platform, we aim to simplify small-value transactions by helping users access a convenient, compact, and superfast payments experience," Kenghe said.
Earlier, The Reserve Bank of India introduced the feature in September 2022.
With inputs from PTI