National Payments Corporation of India (NPCI) will soon launch UPI Lite in India soon. It is an on-device wallet alternative for Unified Payments Interface (UPI) customers which will be in line with the central bank’s paradigm. UPI Lite will enable small-value transactions in offline mode.
In phase 1, UPI Lite will process transactions in near offline mode i.e. debit offline and credit online, and at a later point, UPI Lite will process transactions in complete offline mode i.e. debit and credit both offline. The upper limit of a UPI Lite payment transaction shall be Rs. 200 . The total limit of UPI Lite balance for an “On-device wallet” shall be Rs. 2,000 at any point of time.
