Now, With UPI LITE X, You Will Be Able To Send And Receive Money Being Offline

National Payments Corporation of India (NPCI), an umbrella organization for operating retail payments and settlement systems in India, with the success of UPI LITE, has now launched a new feature called UPI LITE X. UPI LITE X will facilitate transaction of money when someone is completely offline, therefore, allowing them to initiate and execute transactions even in areas with poor connectivity, such as underground stations, remote areas, etc.

NPCI, the official body facilitates secure payment solutions with nationwide accessibility at minimal cost, had earlier launched UPI LITE, a payment solution that leverages the NPCI Common Library (CL) application to process low value transactions that have been set at below ₹200. The solution runs off existing UPI ecosystem protocols for mobile phones to ensure commonality, compliance and system acceptance.

Reserve Bank of India (RBI) Governor Shaktikanta Das had on last week announced the launch of a suite of new product offerings built by the NPCI. In keeping with the theme of the Global Fintech Fest 2023, the new products – Credit Line on UPI, UPI LITE X and Tap & Pay, Hello! UPI – Conversational Payments on UPI, BillPay Connect – Conversational Bill Payments, – are aimed at creating an inclusive, resilient, and sustainable digital payments ecosystem.

What Is UPI LITE X

Users can now both send and receive money whilst being completely offline

Allows users to initiate and execute transactions even in areas with poor connectivity, such as underground stations, remote areas, etc.

UPI LITE X will be accessible to anyone with a compatible device that supports Near Field Communication (NFC).

UPI LITE payments are faster than other payment methods, as they require less time to process the transaction.