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Reserve Bank of India: The Reserve Bank of India (RBI) has recently launched the UPI Lite X service to make UPI payments easier. The service will allow users to send and receive money even when completely offline. The service was launched earlier this week during the Global FinTech Fest 2023. It means users can now complete transactions even in places without connectivity like underground stations, remote areas etc. With this service, you can complete the transaction process even when you are completely offline.
Transactions will be completely offline
RBI Governor launched UPI LITE X for offline payments only after the success of UPI LITE. With this feature, users can now send and receive money even when completely offline. In order to use UPI LITE X, users’ phones must support Near Field Communication (NFC), the National Payments Corporation of India (NPCI) said in a press release. This service is more beneficial for those where internet connectivity is not good.
How is UPI LITE different?
Let us tell you that UPI LITE is a short payment solution. Through it, users can make transactions in less than 500 rupees. The NPCI Common Library (CL) application is used to complete this transaction. This is an ‘on-device wallet’ feature that will allow users to transact in real time without using a UPI PIN.