UPI Lite to launch on Paytm & others soon! Supported Banks, UPI vs UPI Lite & more
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https://www.desidime.com/comments/permalink/9074769
Welcome, and thanks for your comment!
https://www.desidime.com/comments/permalink/9074964
So, will the money be credited to shop in real-time? If yes, using USSD or some other mean?
https://www.desidime.com/comments/permalink/9075032
Yes, the money will be credited to the receiver in real-time (similar to how our normal UPI transactions work) and I do not think it would be done through USSD. UPI Lite will work similarly to how our normal UPI works (scanning QR Codes, entering UPI number, etc), it is just that we won't need to have an internet connection or enter our UPI Pin to send payments since in the UPI Lite case, we are using a digital wallet that gets stored on our phone instead of debiting the amount from a bank account.
Hope this helps.
Hope this helps.
https://www.desidime.com/comments/permalink/9075172
Okay. But still wondering, how my offline phone will communicate to receivers bank (in real-time)! 🤔
+ It doesn't need UPI pin, <Rs200/-.
+ It doesn't need UPI pin, <Rs200/-.
https://www.desidime.com/comments/permalink/9076297
Good question @Blessed So, the entire procedure will work on SMS networks in internet-free digital payments.
Saket Modi, an original security contractor of the BHIM UPI app had said the following - "the SIM card has certain unique cryptographic keys which UPI uses to hard bind your phone with its server, so that even if you switch mobiles, all you have to do is use the same sim card, and you are good to go to use UPI on your new device."
Hope this answered your question
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this is really good initiative, many time UPI fails due to network issue and too much hassle to pay small amounts using PIN