Paytm has introduced UPI LITE Auto Top-up to streamline everyday payments under Rs 500

UPI LITE Auto Top-up is a cutting-edge function that Paytm has launched to make regular payments under Rs 500 easier. The functionality serves consumers who want a quick and easy way to handle regular transactions like groceries, food, and transportation. It was unveiled on Monday and allows for smooth PIN-less transactions as well as automatic balance refills when funds go below a predetermined level.

Paytm UPI LITE Auto Top-up is revolutionary for people who handle small-value, frequent payments. With a daily cap of Rs 2,000, users can transact up to Rs 500 each without using a PIN. By doing this, delays frequently brought on by manual authentication procedures are eliminated.

Because modest payments are processed through an on-device wallet rather than the primary bank account, there are additional advantages, such as a bank statement devoid of clutter. Additionally, users have access to comprehensive UPI transaction logs, which enhance budgeting and financial management.

Important attributes and ease of use:

1. PIN-less payments: No PIN is needed for quick payments under ₹500, which includes transportation and drinks.

2. automated balance recharge: When users establish a minimum balance, automated top-ups are initiated.

3. Improved financial clarity: By isolating small transactions, key bank statements remain transparent.

4. Extensive tracking: Users can keep an eye on every transaction with the use of a downloaded UPI statement.

The service will eventually be extended to other users and affiliated banks, but it currently only works with Yes Bank and Axis Bank accounts.

Steps to activate UPI LITE Auto Top-up:

1. Connect your bank account to the Paytm app after downloading it.

2. Establish a top-up limit and create a UPI handle.

3. To make PIN-less transactions possible, add money to your UPI LITE balance.