A new auto top-up features in the light on low UPI Lite balance shall soon make your transactions. As per the National Payments Corporation of India (NPCI), this new feature shall automatically reload one’s UPI Lite balance once it falls below a preset limit, which would further the present convenience of UPI payments.
New Auto Top-Up Feature in UPI Lite
For the uninitiated, UPI Lite is a wallet which is essentially designed for small value transactions in order to enable users to make payments without entering a UPI PIN. In order to use it, you need a transfer money from your bank account to your UPI Lite wallet and once that is done, you are set to spend the pre-loaded amount.
UPI Lite is supported my most popular UPI apps including Google Pay, PhonePe, Paytm, and BHIM.
With a maximum transaction limit of ₹500 and wallet balance limit of ₹2,000, UPI Lite is intended for low value transactions. Once if the balance runs out, one has to manually reload it from the bank account.
As per the latest announcement by NPCI dated August 27, 2024, the new auto top-up feature shall enable the users to set a minimum balance for their UPI Lite wallet. For instance, if there is minimum balance of ₹500, then the wallet would automatically reload the specific amount when the balance drops below this threshold, ensuring that the total amount in the wallet at a time does not exceed ₹2,000. Users can set the top-up amount, and up to five top-ups are allowed in a single day.
UPI Lite Auto Top-Up Feature Set to Start by November 2024
The UPI apps have been instructed by NPCI to support this feature and integrate the necessary functionalities by October 31, 2024. It would be starting November 1, 2024 that the auto top-up feature would be likely available.
The UPI Lite auto top up indeed promises to simplify everyday transactions, while ensuring users can make payments effortlessly without repeatedly accessing their main bank accounts.
