Paytm UPI LITE now active on these 10 banks for lightning-fast payments
Mumbai, 24 March 2023: India’s homegrown Paytm Payments Bank has enabled real-time lightning-fast UPI payments in one tap via Paytm UPI LITE. These payments never fail even when banks have success rate issues during peak transaction hours.
The success rate of transactions via Paytm UPI LITE is improved further as it is designed to reduce the load on bank systems for small-value payments. Another benefit of India’s most innovative tech company which revolutionised mobile payments in India is that it also works in limited or low connectivity areas.
Currently, 10 banks support Paytm UPI LITE — Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank.
Paytm Payments Bank is a leader in UPI Peer to Merchant (P2M) payments as the largest acquiring and beneficiary bank as well as a leading remitter bank.
Paytm UPI LITE is a secure ‘on-device’ wallet that is linked to the user’s bank account. It
makes a single entry in the user’s bank account, decluttering bank statements. It is powered by the latest UPI LITE Technology for successful payments, which offers 3-level bank-grade security.