The RBI Governor launches UPI Lite X, an innovative payment solution that allows transactions without an internet connection. This launch comes on the heels of the successful implementation of the UPI Lite feature. This feature enables users to send and receive money seamlessly, even in offline mode.
Customers can now conduct transactions with ease, even in regions with limited connectivity, thanks to this advancement. It’s incredibly useful for conducting offline transactions when internet connectivity is unavailable, ensuring that money can still be sent and received without interruption.
UPI Lite X will extend its transaction capabilities to areas lacking connectivity, including underground stations and remote locations, setting it apart from regular UPI and UPI Lite. While regular UPI allows for seamless money transfers between bank accounts regardless of the amount, UPI Lite is designed specifically for small payments. UPI Lite X, however, goes beyond both of these by enabling offline transactions in areas with poor or no connectivity. For UPI Lite X, it’s important that the sender and receiver are in close proximity to each other, ensuring the reliability and effectiveness of offline transactions.
Think of it as a digital handshake between two devices. With UPI Lite X, users can initiate a one-time maximum payment of Rs. 500, making it a convenient solution for quick, small transactions. Indeed, while each individual transaction through UPI Lite X is limited to a maximum of Rs. 500, users have the flexibility to make payments totaling up to Rs. 4,000 per day
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