Talking about the new feature, Praveena Rai, COO, NPCI, said, “With more than 50 per cent of transactions through UPI below Rs 200, UPI LITE will successfully provide a distributed way of authorizing low value transactions, moving them away from core banking.”
“ This shall further improve the success rate of transactions, enhancing the user experience, and taking us one more step closer to processing a billion transactions a day on the UPI platform,” she added.