Paytm now offers automatic wallet top-up for UPI Lite users
Paytm, a popular digital payments platform in India, has launched a new feature - UPI Lite auto top-up. The new function is aimed at simplifying daily transactions by automatically recharging the user's wallet balance, when it goes below a certain pre-set limit. The feature is an initiative of the National Payments Corporation of India (NPCI) to enable small-value transactions directly from an on-device wallet linked to a user's bank account.
A simplified payment solution
The UPI Lite feature removes OTP or PIN requirement for payments below ₹500. Users can load their UPI Lite wallet with up to ₹2,000 and spend up to that amount every day. The auto top-up feature kicks in when the wallet balance goes below a user-set limit, automatically recharging from the linked bank account.
Ideal for small-value payments
The auto top-up facility comes especially handy for recurring, small-value payments like daily commutes, buying food and beverages (tea, coffee, and snacks), and utility payments (groceries, subscriptions, and small bills). As of now, this feature works for UPI handles on Yes Bank and Axis Bank. However, it will be expanded to other partner banks like State Bank of India and HDFC Bank soon.
How to enable auto top-up feature?
To enable the UPI Lite auto top-up facility on Paytm, users will have to link their bank account, and choose a minimum balance limit and a recharge amount for automatic top-ups. This new feature is a part of Paytm's continuous efforts to simplify and improve the user experience on its platform.
