UPI Lite now supports higher limits, automatic wallet top-up

UPI Lite users can make payments of higher amounts and set an automatic refilling mechanism starting November 1. The National Payments Corporation of India (NPCI) has introduced an increased limit and automatic top-up for the wallet based on the Unified Payments Interface (UPI), aimed at streamlining low-value digital payments through supported apps, like GPay, PhonePe, Paytm , and BHIM.Upgraded wallet limitUPI Lite wallet can now store up to Rs 5,000 compared to the limit of Rs 2,000 earlier. All the apps that support UPI Lite can now be recharged with up to Rs 5,000. However, the daily transaction cap is still Rs 4,000. That being said, NPCI has also increased the limit for PIN-less transactions to Rs 1,000 from Rs 500 previously.New auto top-up facilityUsers can now set their UPI Lite wallets to recharge automatically when the balance dips below a preset limit. This works similarly to the automatic top-up functionality in digital wallets. UPI Lite users can set a top-up amount limit according to their preference, but only up to Rs 5,000. The automatic recharges are also capped at five per day, so in case users need to refill their wallets beyond this limit, they must recharge manually."This will support quick, PIN-less payments below Rs 500," said NPCI, while announcing the automatic top-up functionality back in August.Key takeaways-- UPI Lite users can now store up to Rs 5,000 in their UPI Lite wallets.-- They can now make payments of up to Rs 1,000 without entering the UPI PIN.-- UPI Lite wallet now supports the automatic recharge facility.-- Only five auto top-ups are allowed daily, with a maximum limit of Rs 5,000.NPCI also announced that it recorded 16.58 billion UPI transactions worth Rs 23.5 trillion in October, registering a 10 per cent growth in volume and a 14 per cent rise in value compared to September.

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UPI Lite now supports higher limits, automatic wallet top-up

The National Payments Corporation of India (NPCI) has introduced an increased limit and automatic top-up for the wallet based on the Unified Payments Interface.

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