How to enable UPI Lite X: Shaktikanta Das, governor of the Reserve Bank of India, has unveiled a new feature called UPI Lite X in response to the growth of digital payments in India. With the use of this function, people can send and receive money even when there is no internet connection, enabling offline transactions. Let’s examine UPI Lite X’s features and usage in more detail.
The upgraded version of UPI Lite is called UPI Lite X. Since the payment software creates an on-device wallet using this manner, the basic concept is unaffected. Money from the user’s savings account must be manually transferred to the wallet. After completing this stage, users can utilize these funds for P2M and P2P transactions with other users as well as with businesses.
The key convenience in this situation is that the UPI PIN is not required for transactions up to Rs 500. To carry out transactions, UPI Lite needs an internet connection, which is a significant distinction between the two. With UPI Lite X, however, NPCI has added offline payment capabilities, making it possible to conduct transactions without an internet connection.
Users will require an Android smartphone with NFC capability in order to utilize UPI Lite X. Because Apple forbids third-party NFC payment apps on its devices, UPI Lite X is incompatible with iPhones. so as to send money you have to be on the most recent BHIM App installation on both the sender and the recipient’s devices. NFC-capable Android devices should be used by the sender and the recipient.
Here’s how to enable UPI Lite X on your android phones
Canara Bank, HDFC Bank, State Bank of India (SBI), Axis Bank, Central Bank of India, Kotak Mahindra Bank, Punjab National Bank, Union Bank, Indian Bank, Utkarsh Small Finance Bank, and Paytm Payments Bank are the only 11 banks in India that offer UPI Lite X. Individual transactions with UPI Lite X are limited to Rs 500, with a daily limit of Rs 4,000. Users can save up to Rs 2,000 in their UPI Lite X wallet.
Currently, the BHIM App supports Tap and Pay as well as offline transactions for UPI Lite X. This capability is expected to be introduced in the coming weeks by third-party apps such as PhonePe and Paytm.
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