New Delhi [India], November 26 : One 97 Communications Limited (OCL), which owns the brand Paytm, has introduced automatic top-up for Paytm UPI Lite, the company informed the exchange in a filing.
As per the company, this feature allows users to automatically recharge their UPI Lite balance when it falls below a set limit, ensuring seamless small-value transactions without the need for a PIN. Payments of up to Rs 500 can be made per transaction, with a daily limit of Rs 2000, making it ideal for recurring daily payments.
The company said "Paytm UPI Lite streamlines daily transactionssuch as purchasing groceries, paying for transportation, managing subscriptions, or settling small billsby eliminating the need for a PIN. It helps maintain clutter-free bank statements, as routine payments are processed through an on-device wallet without directly accessing the main bank account".
Additionally, the company has also introduced a UPI statement download feature, enabling users to view and download detailed records of all UPI transactions, including those made via Paytm UPI Lite. This enhancement supports effective expense monitoring and spending management.
The Paytm UPI Lite auto top-up feature is live on Yes Bank and Axis Bank handles for select users, and will soon be expanded to all users and remaining partnered banks.
"The introduction of automatic top-up in Paytm UPI Lite makes everyday payments faster and more seamless, covering everything from daily chai and food to auto, metro, and bus rides. It helps keep the main bank statement clutter-free, ensuring small, frequent transactions don't overwhelm it. The Paytm app provides a detailed UPI statement that includes Paytm UPI Lite spends as well, allowing users to track and organize all their payments effectively" said a Paytm spokesperson.
The company also informed that it has partnered with leading banks, including State Bank of India (@ptsbi), HDFC Bank (@pthdfc), Axis Bank (@ptaxis), and Yes Bank (@ptyes), to power seamless and secure UPI payments
The platform enables users to link their bank accounts and create UPI IDs for seamless self-account transfers, peer-to-peer transactions, and online and offline payments. It provides account balance checks directly within the app.
It offers UPI Lite for small-value transactions, RuPay Credit Card linking on UPI, and an auto-pay service, enhancing the overall payment experience.
Expanding its reach, the platform now also supports international UPI payments at foreign locations where UPI is accepted, including the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.
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