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India’s digital payments provider Paytm announced today the launch of an automatic top-up feature for its UPI LITE service, enabling PIN-less transactions for payments under ₹500. The new feature, currently available for select Yes Bank and Axis Bank users, automatically recharges the UPI LITE balance when it falls below a predetermined limit.
The shares of One 97 Communications Limited were trading at ₹891.70 down by ₹9.25 or 1.03 per cent on the NSE today at 11.17 am.
The service allows daily transactions up to ₹2,000 and is designed for recurring small-value payments such as transportation, groceries, and daily purchases. Users can create UPI handles and add money to their Paytm UPI LITE balance from linked bank accounts.
The company has also introduced a UPI statement download feature, allowing users to track their transactions, including those made through UPI LITE. The platform maintains separate records for these small transactions, preventing cluttered bank statements by processing payments through an on-device wallet rather than directly accessing the main bank account.
Paytm’s UPI service operates in partnership with major Indian banks, including State Bank of India, HDFC Bank, Axis Bank, and Yes Bank. The platform has expanded internationally, supporting UPI payments in several countries, including the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.
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