What is UPI 123PAY & how to use UPI Lite ?

What is UPI 123PAY: To decrease cash-based transactions in India, the RBI introduced UPI. For a sizable percentage of the population who lacked smart phones, UPI was unavailable. The RBI introduced UPI 123Pay to solve this issue. Customers will be able to use their feature phones other than smartphones for almost all transactions using UPI 123Pay, with the exception of scan and pay.

What is UPI Lite ?:

UPI Lite is an "on-device wallet". To use UPI Lite, users must first contribute money to the app's wallet from their bank accounts. Users can make real-time payments without the Internet because it is a "on-device wallet." In phase one, UPI Lite will process transactions in near offline mode, i.e., debit (payments) can be made without Internet connection and credits into the account will be done online. However, there is a plan to make UPI Lite offline in the future where customers can process transactions — both debit and credit — in complete offline mode.

The maximum amount that can be transferred via UPI LITE is Rs. 200, and the maximum amount that can be in your UPI LITE balance at any given moment is Rs. 2000, or any additional limits that may occasionally be set by NPCI. Check - New Bank Locker Rules - How locker customers will be impacted ?
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