Axis Bank, India’s third largest private sector bank, on Friday launched UPI LITE, a new feature which will enable customers to make instant payments with just one tap for transactions up to Rs. 200 without using a UPI PIN.
An official communication said customers can manage their LITE Account in the UPI App where they can view available balance, transaction history and do top-ups.
UPI LITE solution was launched by National Payments Corp of India in September 2022. Axis Bank has been one of the early adopters of this innovation.
Sanjeev Moghe, President and Head (Cards and Payments), Axis Bank, said: “In the last decade, India has seen an exponential growth and adoption of digital payments, triggered by various developments in the tech world with easy-to-use product offerings and a push by the government for a cashless economy."