UPI Lite: Difference between UPI123 and UPI Lite


Shaktikanta Das, governor of the Reserve Bank of India (RBI), introduced UPI Lite on September 20, 2022, to speed up and simplify low-value UPI payments. Users will be able to conduct real-time small-value payments up to Rs 200 using UPI Lite, an on-device wallet function, without entering a UPI PIN.

However, many individuals are getting confused between UPI lite and UPI123. Here is a look at the difference between UPI Lite and UPI123.

What is UPI

The term “Unified Payment Interface” (UPI) refers to a smartphone application that enables users to transfer money between bank accounts. It is a mobile payment system created by the National Payments Corporation of India. Customers are no longer required to initiate transactions by divulging private information like bank account numbers or other financial details.

What is UPI123Pay

To decrease cash-based transactions in India, the RBI introduced UPI. For a sizable percentage of the population who lacked smartphones, UPI was unavailable. The RBI introduced UPI123Pay to solve this issue. Customers will be able to utilise their feature phones for almost all transactions using UPI123Pay, with the exception of scan and pay.

How it UPI123Pay works

Step 1: Link his bank account with UPI123Pay.

Step 2: C reate a UPI pin using their debit/credit card.

Step 3: Call the IVR number, and choose the service, such as money transfer, LPG bill, or electricity bill.

Step 4: The user must first choose the service before adding the recipient’s phone number in order to send money. The sum and PIN will then be combined.

Step 5: The user has two options to pay a merchant. The first is to use the app, and the second is to pay via a missed phone call.

What is UPI Lite?

UPI Lite is an “on-device wallet”. To use UPI Lite, users must first contribute money to the app’s wallet from their bank accounts. Users can make real-time payments without the Internet because it is a “on-device wallet.”

The maximum amount that can be transferred via UPI LITE is Rs. 200, and the maximum amount that can be in your UPI LITE balance at any given moment is Rs. 2000, or any additional limits that may occasionally be set by NPCI.

How UPI lite works

You can access UPI LITE and complete UPI LITE transactions by logging into the app you downloaded on your phone and providing the necessary information for the device’s biometric or pattern validation. UPI LITE does not require a separate authorization or UPI PIN to complete a transaction.



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