Title : A New Chapter in Digital Payments in India : UPI Lite X
What is UPI Lite X?
UPI Lite X is a next generation payment solution launched by the Reserve Bank of India, designed for areas with unstable or poor internet connectivity. This technology allows users to make secure money transactions without internet access.
UPI Lite X Features and Benefits
1. Offline transactions
UPI Lite X supports offline money transfers for areas with poor internet conditions.
2. Near field communication (NFC) technology
Utilise NFC technology for seamless, secure transactions between devices.
3. Equipment wallet
Store funds locally on the user's device to ensure quick access.
4. Low battery consumption
Optimise battery usage to ensure the longevity of the device during trading.
Requirements for accessing UPI Lite X
- The sender's and receiver's equipment needs to be in close proximity.
- The device needs to support NFC technology.
UPI Lite X vs. UPI and UPI Lite
- Features: UPI and UPI Lite require an internet connection, while UPI Lite X supports offline trading.
- Transaction Limit: The daily transaction limit for UPI Lite X is Rs. 4000, same as UPI Lite.
- Transaction Authentication: UPI Lite X uses NFC for offline transactions without a PIN.
concluding remarks
UPI Lite X marks a significant change in the digital payments space in India, providing a secure and convenient payment solution for rural and poorly connected areas, fuelling the cashless economy.
Atpay - As a professional payment solution provider, we are committed to provide efficient payment services to the Indian market, welcome inquiries and communication.
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