Paytm UPI Lite crosses 4 million users with 10 million transactions

Paytm UPI Lite facilitates lightning-fast UPI payments even when banks face success rate issues during peak transaction hours. Moreover, individual payments made via UPI Lite are not shown in the bank passbook where the UPI Lite balance was added, offering a clean bank statement with only a single passbook entry for loading the UPI Lite balance.

In an attempt to drive innovation, the Paytm Payments Bank is the first payments bank to launch UPI Lite. Owing to a superior and reliable user experience, the chance of transaction failure on Paytm UPI Lite is also lower, making it a more dependable option for users. In addition, Paytm UPI Lite is secured by Paytm's 3-level bank-grade security.

Paytm UPI Lite balance can be used to make superfast UPI payments to any UPI QR, send money to any mobile number, or even transfer to one's own self-bank accounts linked to Paytm Super App through the self-transfer option. Currently, 10 banks support Paytm UPI LITE — Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank. Many other major banks are expected to go live with UPI LITE soon.

Paytm Payments Bank Spokesperson said, "We have achieved over 4.3 million Paytm UPI Lite users and 10 million transactions milestone in a short span of time, and it has made everyday payments hassle-free, quick and seamless for users. The security and technology of Paytm Payments Bank power Paytm UPI Lite. As the pioneer of mobile payments in India, we are committed to driving financial inclusion."

On the Paytm app, during this IPL season, Paytm UPI is running exciting cashback offers with top fantasy gaming apps, including Dream11, MPL, My11Circle, First Games, Winzo, and Myteam11. Users can use Paytm UPI LITE and get upto Rs. 300 Cashback while adding money to these apps for making their fantasy cricket teams.

Additionally, this IPL season, Paytm has also launched an engaging game on its app called Paytm Cricket League. In this game, users can score runs using Paytm for all their payment needs and stand a chance to win iPhone 14, up to Rs. 7000 cashback and many more exciting prizes. Users can enter this game on Paytm App through the Play & Win icon in the Featured section on the app homepage or can search for Paytm Cricket League in the Search tab on the app homepage.

Paytm Bank is the leader in UPI payments, with the highest market share in P2M (peer-to-merchant) payments as the largest acquiring bank. It has remained the top UPI beneficiary bank for 21 months in a row, along with being one of the leading remitter banks.