Paytm UPI Lite Introduces Automatic Top-Up for Seamless Transactions

Paytm's UPI Lite feature now supports automatic top-ups, ensuring uninterrupted small-value transactions by refilling balances once limits are reached. The enhancement includes detailed UPI statement download options, promoting efficient expense management. Initially available for select users, a broader rollout is forthcoming.

One 97 Communications Limited, the parent company of Paytm, has announced a significant update for Paytm UPI Lite: the introduction of automated top-ups. In its recent filing with exchanges, the company detailed how this feature allows seamless small-value transactions by automatically replenishing users' UPI Lite balance when it falls below a pre-set threshold, eliminating the need for a PIN. Transactions up to Rs 500 are permitted at a time, with a daily transaction cap set at Rs 2000, making this an ideal solution for frequent, low-value payments.

According to Paytm, the UPI Lite feature simplifies everyday transactions, such as buying groceries or paying transport fares, by bypassing the need for a PIN entry. It also aids in keeping bank statements clutter-free since these routine payments are processed via an on-device wallet, separate from users' main bank accounts. The launch also includes a newly added feature to download UPI transaction statements, which helps users effectively track and manage expenses.

Currently, the auto top-up feature is available to select users banking with Yes Bank and Axis Bank, with plans for a wider release to include all users and other partnered banks. A Paytm spokesperson highlighted the advantages, emphasizing the streamlined process for small payments ranging from daily essentials to commuting costs. Moreover, the app delivers comprehensive UPI statements, offering users a comprehensive view of their spending patterns.

In collaboration with leading banks like the State Bank of India, HDFC, Axis, and Yes Bank, Paytm ensures seamless and secure UPI payments. The platform's capabilities extend to linking bank accounts, creating UPI IDs, and performing both online and offline transactions, alongside offering direct account balance checks.

Further enhancing user experience, Paytm supports UPI Lite for small-value transactions, RuPay Credit Card linking, and auto-pay services. Additionally, its functionality now includes international UPI payments in several foreign regions where UPI is accepted, making the platform's reach truly global.

(With inputs from agencies.)