Axis Bank has launched UPI LITE, a new feature that will allow customers to make instant one-tap payments for small value transactions up to ₹200 without using a UPI PIN.
Customers can manage their LITE account in the UPI app, where they can view their available balance, transaction history and make top-ups, the bank said in a statement.
“This feature will currently work on UPI apps that support the UPI LITE feature and customers have their Axis bank account in that UPI app,” he said.
Also Read: Paytm UPI Lite – Know How To Set Up
UPI LITE was launched by the National Payments Corporation of India (NPCI) in September 2022 to facilitate hassle-free multiple small value transactions during peak hours.
To take advantage of the facility, customers will need to enable UPI LITE for Axis Bank in their UPI app and then proceed to add funds to their LITE account from their Axis Bank account.
“We continue to scale our UPI growth through a dedicated UPI infrastructure and ability to handle high TPS (transactions per second); having one of the highest approval rates at UPI. We believe that with the adoption of NPCI’s UPI LITE feature, this will further strengthen the adoption rate,” said Sanjeev Moghe, President and Director of Cards and Payments.
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