Paytm Payments Bank’s UPI Lite Gains Popularity with 4.3 Million Users and 10 Million Transactions; Provides Seamless UPI Payments up to ₹200 in One Tap
Paytm Payments Bank’s UPI Lite has witnessed a remarkable surge in user adoption, surpassing 4.3 million users and processing over 10 million transactions via the Paytm Super App. The UPI Lite feature has gained traction among users for conducting swift and hassle-free UPI payments of small values up to ₹200 with a single tap.
With UPI Lite, Paytm Payments Bank enables seamless UPI transactions, even during peak hours when traditional banks may encounter success rate issues. Additionally, individual payments made using UPI Lite do not reflect in the bank passbook where the UPI Lite balance was added from. This provides a clean bank statement with only one entry for loading the UPI Lite balance.
Paytm Payments Bank Leads Innovation with the Launch of UPI Lite, Offering a Dependable and Seamless User Experience
As a pioneer in payments banking, Paytm Payments Bank has launched UPI Lite, a groundbreaking solution for facilitating superfast and reliable UPI payments. With a superior user experience and robust security features, Paytm UPI Lite ensures a lower probability of transaction failure, providing users with a dependable payment option.
The Paytm UPI Lite balance can be used to make instant UPI payments to any UPI QR, send money to any mobile number, or transfer to one’s own bank account linked to the Paytm Super App via the self-transfer option. Presently, Paytm UPI Lite is supported by 10 banks, including Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank. Several other major banks are expected to join soon.
Paytm Payments Bank’s UPI Lite also boasts 3-level bank-grade security, ensuring a secure and hassle-free payment experience for users.
This IPL season, Paytm UPI is offering exciting cashback offers for users who use it to add money to their accounts on top fantasy gaming apps, including Dream11, MPL, My11Circle, First Games, Winzo, and Myteam11, via Paytm UPI Lite. Users can get up to Rs 300 cashback on each app while adding money to create their fantasy cricket teams.
In addition to these cashback deals, Paytm has also launched an engaging game called Paytm Cricket League on the Paytm Super App. Users can score runs by using Paytm for all their payment needs during the IPL season and stand a chance to win prizes, including the iPhone14. Users can access this game by clicking on the Play & Win icon in the Featured section of the app homepage or by searching for Paytm Cricket League in the Search tab.
As a leader in UPI payments, Paytm Payments Bank has achieved the highest market share in P2M (peer-to-merchant) payments as the largest acquiring bank. It has also remained the top UPI beneficiary bank for 21 consecutive months and is one of the leading remitter banks, cementing its position as a reliable and secure payment platform.
