The Reserve Bank of India on Thursday announced an increase in the payment limit for transactions from rupees. 200 rupees. UPI Lite is 500 in offline mode. First launched in September 2022, UPI Lite allows users to conduct small-limit transactions in offline mode. Since then, the feature has also been adopted by PhonePe, Paytm and Google Pay. Meanwhile, a number of other features have been proposed including conversational payments and NFC support on UPI to make transactions more seamless.
Reserve Bank of India Governor Shaktikantha Das holds a press conference here today Announce There will be some big changes in things like offline UPI payments. The UPI Lite transaction limit has been proposed to be increased from Rs. to Rs.100. 200 rupees. 500 in offline mode. However, the overall wallet limit remains at Rs. Only 2,000. Announced in September 2022, the feature currently allows users to make offline payments of up to Rs. 200 pieces.
Additionally, the RBI has also proposed enabling “conversational payments” on UPI by using an artificial intelligence-driven system. Users will soon be able to request payments from AI-powered systems. However, no further details about this feature have been disclosed. The feature will initially be available in Hindi and English, with more Indian languages coming soon.
Additionally, the RBI has also announced the launch of offline payments on UPI using Near Field Communication (NFC) technology through the ‘UPI-Lite’ device wallet. This will help users to make payments via UPI in areas with limited internet or low network network.
Last month, Google Pay launched the new UPI Lite service on its platform. Transactions through the UPI Lite service on Google Pay do not require a UPI PIN and can be done with just one tap. It is worth noting that UPI Lite does not depend on real-time banking transactions, so it can also be accessed in offline mode.
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