UPI Lite launched for offline transactions under Rs. 200: Details

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The Reserve Bank of India (RBI) launched UPI Lite for feature phones on Tuesday, allowing Indian users to enable offline transactions for a small fee. The on-device wallet was launched by RBI Governor Shaktikanta Das alongside the unveiling of UPI on RuPay credit cards, enabling Bharat Bill Pay System (BBPS) for cross-border bill payments. As a reminder, UPI Lite’s debut in India was announced in March by the National Payments Corporation of India (NPCI). As previously announced, the transactions can be allowed in offline mode, while crediting the account may require an online connection for the initial phase.

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RBI Governor Shaktikanta Das announced the launch of UPI Lite, which allows users to transact online for a small amount of money in offline mode. The framework to enable small digital payments in offline mode was introduced in January, while the announcement about the debut of UPI Lite was made in March.

UPI Lite users can use the on-device wallet to facilitate small value transactions up to Rs. 200. However, as NPCI previously explained, the total limit of the wallet balance on the device can reach up to Rs. 2,000. It should be noted that UPI Lite will give tough competition to current online mobile wallets such as Paytm and MobiKwik.

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As previously announced, in the initial phase, debit payments can be made in offline mode, while crediting the account is only possible when it is online. However, all UPI transactions can be converted completely offline later.

Most importantly, users can decide to disable UPI Lite services from their UPI apps at any time. In that case, the balance in the wallet on the device will be returned to the user account in real time.

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Apart from UPI Lite, the governor also unveiled the UPI on RuPay credit cards and enabling Bharat Bill Pay System (BBPS) for cross-border bill payments. In the first phase, only Punjab National Bank, Union Bank of India and Indian Bank will go live with UPI on RuPay credit cards through Bhim app. Meanwhile, the BBPS-enabled cross-border bill payments will go live for Federal Bank and the UAE’s Lulu Exchange.


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