For Everyday Payments Under INR 500, Paytm Introduces UPI Lite Auto Top-Up

Nitin Konde, Varun Bhardwaj

Nov 27, 2024 — 2 min read

Paytm Launches UPI Lite Auto Top-Up for Payments Under INR 500

Paytm's parent company, One 97 Communications Limited (OCL), declared on 25 November that Paytm UPI Lite now offers automatic top-up. In order to ensure smooth small-value transactions without requiring a PIN, the feature will enable users to immediately replenish their UPI Lite balance when it drops below a predetermined level. It is perfect for regular daily payments because it allows payments of up to INR 500 each transaction and has a daily cap of INR 2000.

By doing away with the requirement for a PIN, Paytm UPI Lite simplifies everyday activities like managing subscriptions, paying for transportation, buying groceries, and paying small invoices. Because regular payments are handled via an on-device wallet rather than gaining direct access to the primary bank account, it helps keep bank accounts clear of congestion.

UPI Statement Download Feature

A UPI statement download tool has also been added by the firm, allowing users to view and download comprehensive records of all UPI transactions, including those done through Paytm UPI Lite. According to the firm, the Paytm UPI Lite auto top-up feature is currently available for a limited number of users on Yes Bank and Axis Bank accounts and will shortly be extended to all consumers and the remaining partner banks.

According to a Paytm spokeswoman, the addition of automatic top-up to Paytm UPI Lite speeds up and simplifies daily payments for everything from daily meals and tea to bus, subway, and car rides. It ensures that tiny, regular transactions don't overtake the main bank statement by keeping it clear of clutter. Users can efficiently track and manage all of their payments with the Paytm app's comprehensive UPI statement, which also includes Paytm UPI Lite expenditures.

Paytm’s Partners

To facilitate UPI payments, Paytm has worked with institutions such as State Bank of India, HDFC Bank, Axis Bank, and Yes Bank. For peer-to-peer transactions, online and offline payments, self-account transfers, and account balance checks, the platform lets users link their bank accounts and get UPI IDs. It improves the entire payment experience by providing auto-pay, RuPay Credit Card linkage on UPI, and UPI Lite for small-value transactions. According to Paytm, the platform has expanded its reach by enabling international UPI payments in countries including the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal where UPI is accepted.

By enabling cashless payments for dining or shopping, the international UPI service streamlines spending at well-known locations across the globe. As leaders in mobile payments, Paytm is excited to provide its services to Indian tourists, particularly as the holiday season draws near, a Paytm representative stated. The company's dedication to empowering users anywhere in the world is demonstrated by this invention.