Now UPI Lite has made a new change to provide better convenience to the customers
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Mumbai: As you know nowadays everything has become digital. Nowadays people take money from internet only. Many times due to weak internet signal, our money does not reach those whom we want to transfer and for which we have to face problems.
To correct this and to provide good facilities to the people, UPI has changed a new feature. People can now make offline payments up to Rs 500 through UPI Lite Wallet, even in areas with no internet or weak signal.
For this, RBI on Thursday increased the maximum amount of offline payment through UPI Light Wallet from Rs 200 to Rs 500. However, the total amount that can be transacted through this facility on any payment platform is still limited to Rs.2,000. PIN verification is not required for NFC transactions.
According to the central bank, this facility will not only enable retail digital payments but also ensure speed. To increase the use of UPI Lite, the RBI had in early August proposed to facilitate offline transactions using NFC technology.
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