[ad_1]
Reserve Bank of India: The Reserve Bank of India (RBI) has recently launched the UPI Lite X service to make UPI payments easier.
The service will allow users to send and receive money even while being completely offline. The service was launched earlier this week during the Global Fintech Fest 2023. This means users can now complete transactions even in places without connectivity like underground stations, remote areas etc. Through this service, you can complete the transaction process even when you are completely offline. ,
Transactions will be completely offline
It was only after the success of UPI LITE that the RBI Governor launched UPI LITE X for offline payments. Through this facility, users can now send and receive money even while being completely offline. The National Payments Corporation of India (NPCI) said in a press release that, to use UPI Lite X, users’ phones must support Near Field Communication (NFC). This service is more beneficial for those where internet connectivity is not good.
How is UPI LITE different?
Let us tell you that UPI LITE is a short payment solution. Through this, users can do transactions of less than Rs 500. NPCI Common Library (CL) application is used to complete this transaction. It is an ‘on-device wallet’ feature that will allow users to transact in real time without using the UPI PIN.
[ad_2]
Source link
