How Bank of Baroda customers can enable UPI LITE to make instant payments with just one tap. Step-by-step guide here
Bank of Baroda is one of the leading UPI remitter banks and the launch of our UPI LITE facility will further accelerate the adoption of UPI and help in promoting digital financial inclusion," said Joydeep Dutta Roy, Executive Director, Bank of Baroda. UPI LITE enables customers to seamlessly make multiple, small-value transactions instantly during peak hours. The maximum balance in the UPI LITE wallet at any point in time cannot exceed ₹2,000.
1)To avail of this service, customers need to enable UPI LITE on BHIM or any UPI LITE support app. 2)During LITE activation, customers can fund their UPI LITE account through their UPI-linked Bank of Baroda bank account. 3)Once a customer activates the UPI LITE account, small-value digital transactions as per the permissible limit will be debited from the LITE account without any additional factor authentication (AFA).
4)However, users recharging or loading funds in UPI LITE will need to enter additional factor authentication. 5)On deactivating UPI LITE, the balance in the UPI LITE wallet will be credited back to the Primary LITE bank account. 6)Customers can use their wallet balance to make small value, cashless payments at Kirana stores, pharmacies, restaurants, shops, fuel retail outlets, and more.
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