UPI Lite: Now transactions up to Rs 500 can be done without internet, now payment will be done indiscriminately even in weak network

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UPI Lite offline transaction limit increased: The Reserve Bank of India (RBI) has increased the maximum amount for offline payments through UPI-Lite wallets from Rs 200 to Rs 500 in areas with no internet or weak signal. However, a total amount of Rs 2,000 can still be transacted through UPI-Lite on any payment platform.

While issuing a circular to increase the limit of small amount digital payment through offline medium, RBI said, the upper limit of offline payment transaction has been increased to Rs 500.

Offline payment facility was also started in September 2022 for mobile phone holders deprived of internet facility. For this a new unified payment platform UPI-Lite was introduced. However, only transactions up to Rs 200 could be done in this.

Within no time this payment platform became very popular among the basic mobile phone holders. At present, through this, more than one crore transactions have started happening in a month.

To increase the use of UPI-Lite, in early August, the RBI proposed to facilitate offline transactions with the help of NFC technology. PIN verification is not required when transactions are done through NFC.

Within no time, this payment platform has become very popular among basic mobile phone holders. At present, through this, more than one crore transactions have started happening in a month. In order to increase the use of UPI Lite, in the beginning of August, RBI had proposed to facilitate offline transactions with the help of NFC technology. Pin verification is not required when transactions are done through NFC.

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