How To UPI Lite and UPI 123Pay work – United Payment Interface or UPI has become a popular online payment service in India. Developed by the National Payments Corporation of India (NPCI), the interface is a 24/7 instant payment system that allows users to transfer money between two bank accounts without sharing bank details in real time. Due to its success, NPCI launched UPI Lite and UPI 123Pay. The former is an on-device wallet, while UPI 123Pay is an offline version of the United Payments Interface for feature phones. Here’s everything you need to know about UPI Lite and UPI 123Pay.
Are you looking to send and receive money using your mobile phone? If so, you’re in for a treat! UPI Lite and UPI 123Pay are two of the most popular money transfer apps available on the market today. In this article, we will explain how these apps work and give you an overview of their features. We also have a quick guide on how to set up UPI Lite and UPI 123Pay on your phone. So read on to learn more about these awesome money transfer apps!
How To UPI Lite and UPI 123Pay work?
UPI Lite (Undertake Payment Interface for Load Balancing) and UPI 123Pay (Undertake Payment Interface for Third Party Aggregators) are two of the most popular payment interfaces in use today. Both provide efficient and speedy ways to complete transactions with your customers. In this article, we’ll provide you with a brief overview of how these two payment interfaces work, and explain why they’re such a powerful tool for businesses.
The Covid-19 pandemic has forced us all to move to digital payments because they are fast, contactless and easy. Although there are various ways to make digital payments, one of the most used methods in our country is UPI (Unified Payment Interface). Several platforms like Google Pay, Phone PEY, Pay Tm and others can be used to make UPI-based payments. However, all these platforms require a more active internet connection to make a payment.
UPI Lite and UPI 123Pay Details
| Name Of Article | How To UPI Lite and UPI 123Pay work |
|---|---|
| UPI Lite and UPI 123Pay | Check Here |
| Category | How to Guides |
| Official Site | Click here |
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What are UPI Lite and UPI 123Pay?
UPI Lite and UPI 123Pay is an extension of UPI service. They can also send and receive money online; however, their properties are slightly different. Scroll down to see how UPI Lite and UPI 123Pay differ from each other and what purpose they serve.
UPI Lite and UPI 123Pay are two new ways of making payments using your phone. They’re simple and quick to use, and allow you to make payments without having to entering your card numbers or account numbers. Plus, they’re secure – you don’t have to worry about your data being stolen in the process. If you’re interested in trying out either of these new payment methods, read on to learn more about how they work and how to sign up for them.
UPI Lite
UPI Lite is an in-device wallet similar to the wallets of Pay TM, Freeload, Mobi Kwik and other payment apps. It is designed for small, under Rs.200. With UPI Lite, users can add funds and send small payments in real time without an internet connection and UPI PIN. But UPI Lite processes transactions only offline during recharge. Users must first stay online to receive credit. But don’t worry, NPCI plans to make all transactions through UPI Lite, including debit and credit, completely offline.
However, it is worth mentioning that the feature has been implemented so far only in the BHIM app. Additionally, customers of only eight Indian banks can use the UPI light feature through the BHIM app. These banks include HDFC Bank, Kotak Mahindra Bank, State Bank of India, Utkarsh Small Financial Bank, Canara Bank, Indian Bank, Punjab National Bank and Union Bank of India.
UPI 123Pay
UPI 123Pay differs from UPI Lite in that it is issued for feature phones and works even without internet. With UPI 123Pay, feature phone users can pay using one of the following options: IVR-based payment solution, missed call, voice-based technology and payment app. UPI 123Pay is completely free which means no transaction fees yet. In addition, the payment platform supports seven languages namely English, Hindi, Kannada, Tamil, Bengali, Malayalam and Telugu.
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How is UPI Lite different from UPI 123Pay?
UPI Lite is a new payment system that is designed for small businesses. It has a lower processing fee and lower merchant fees than UPI 123Pay, which makes it a better option for small businesses. It also has features like zero liability for merchants, which means that merchants don’t have to worry about any financial losses due to fraudulent payments. UPI Lite is available in more than 100 Indian languages, so businesses of all sizes can easily use it.
| UPI LITE | UPI 123PAY |
| An on-device wallet feature that allows users to make real-time small-value payments without using UPI Pin | A feature phone option that allows you to make Unified Payments Interface payments |
| Can only be used on a smartphone | Is compatible with feature phones |
| UPI Lite is partially offline | You don’t need an active internet connection |
| 1 payment gateway | 4 payment alternatives |
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How UPI Lite and UPI 123Pay work?
UPI Lite is an app-based payment system that lets users make payments through their mobile phones. UPI 123Pay is an extension of UPI Lite that allows users to make payments quickly and easily by scanning QR codes. Both apps are available on Android and iOS platforms, and they work with a variety of payment options, including bank accounts, debit cards, and e-wallets.
UPI Lite and UPI 123Pay both follow a various approach. Read and find out how they work:
UPI Lite
You need to download and install the Bhim app on your smartphone.
- To add a bank account for UPI transactions, open the app and login.
- Go to the bottom of the page and click on the UPI Lite ribbon.
- Tap “Enable Now”. Enable UPI Lite.
- Enter UPI PIN. Your UPI Lite e Wallet will be activated after the amount is transferred.
UPI 123Pay
UPI 123Pay works through Missed Calls, IVR and App. If you have the application installed on your phone, you can register and pay without the Internet. Otherwise, you have to use missed calls and IVR services. To make a payment, however, you must first link your bank account and set a UPI code. Here’s how you can do it:
- Call any IVR number – 080 5163666, 080 5163581, 6366200200 from your registered mobile.
- Choose a language.
- UPI 123Pay currently supports three languages: Hindi, English and Kannada.
- Choose your bank.
- Enter bank card details. mounting bolts.
- Learn how to register your account with UPI 123Pay.
Conclusion
UPI Lite and UPI 123Pay are two of the most popular mobile payments systems in the country. But what’s the difference between them and how do they work? In this article, we’ll cover everything you need to know about UPI Lite and UPI 123Pay. We’ll also provide a conclusion of this article that clarifies the pros and cons of these mobile payment systems. So if you’re looking for a comprehensive guide to these two systems, read on!
FAQ
How To UPI Lite and UPI 123Pay work: what’s the difference and more?
A UPI Lite payment transaction has a maximum limit of Rs 200, while an on-device wallet's total capacity is Rs 2,000 at any given moment. What is it? UPI 123PAY, on the other hand, is a feature phone payment system that allows users to use it in a secure and safe manner.
How does UPI Lite work?
In the App, you can enable UPI LITE for a single account; 2.2. At any time, or such other limits as may be prescribed by NPCI from time to time, the upper limit of a UPI LITE Transaction shall be Rs. 200/- and the overall limit of UPI LITE Balance shall be Rs. 2000/-.
How does UPI 123PAY work?
By dialing a number displayed on the merchant's side and then receiving a call from a given number to verify the transaction, the customer may perform transactions using this approach. The transaction is successful when the UPI PIN is entered correctly.
What Is UPI Lite available in GPAY?
The BHIM App, which is accessible for free on both the Google Play Store and the Apple App Store, is currently the only way to get UPI LITE. UPI LITE, according to NPCI, will be introduced shortly in additional major UPI Apps such as PhonePe, Google Pay, and PayTM.
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