UPI Lite launched; Payment will be done without internet
Reserve Bank of India (RBI) has introduced UPI Lite for low value transactions in India. UPI Lite will work the same way as UPI, but it is designed to be much faster and simpler.
UPI Lite is an on-device wallet, which is directly linked to the bank account for making or receiving money payments.
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UPI Lite can be accessed through BHIM UPI app.
It works just like PayTM Wallet. In this also money will have to be added to the wallet first and then money can be sent to anyone.
Interestingly, with UPI Lite, customers can make payments without an internet connection.
Because it is a wallet, users just need internet to add money and then send money to anyone without internet access.