KVB UPI LITE
UPI LITE is the payment solution designed by NPCI (National Payment Corporation of India) to process the small value transactions less than or equal to Rs.500/-
UPI LITE is intended to be customer-friendly, faster and easier for low value transactions.
Steps to enable UPI LITE for KVB customers:
Customer should have a KVB bank account linked in the respective UPI App and the following steps to be done.,
- Open the UPI application (Other bank/third party UPI App).
- Select UPI LITE in the home screen.
- Read & accept Terms & conditions.
- Enter the amount to add in UPI LITE and select the KVB bank account registered for UPI transaction.
- Enter the UPI Pin.
- On successful authentication of UPI PIN, the amount will get added in UPI LITE (On-Device Wallet) and will get enabled to do transaction.
UPI LITE transaction Flow:
- Open the UPI application in which UPI LITE is activated as per the above enablement steps.
- Choose anyone mode (scan & pay, pay to person/merchant, etc) of UPI payment option.
- Enter/confirm the payment amount based on the above said modes.
- Select UPI LITE.
- Transaction will get executed without PIN.
- Consolidated transaction SMS will be sent for the total spent on UPI LITE in a day.
Note: The add money in the UPI LITE will get reflected in the KVB account statement and the UPI LITE transactions are shown only in the respective UPI Application and not on the KVB account statement.
Benefits of UPI LITE:
- Once click, Pin free, for transaction value less than or equal to Rs.500/-
- Single consolidated SMS will be triggered to the customer for all UPI LITE transactions performed in the previous day.
- Improved success rate for UPI transactions.
- Less infrastructure load on Remitter bank CBS.
- Transactions executed through UPI LITE will be safe and will reduce the transaction fraud risk to the extent of UPI LITE (maximum of Rs.4,000/- per day) transaction limit.
UPI LITE Transaction Limits, per day:
| Minimum loading | Re.1/- |
| Maximum limit per transaction | Rs.500/- |
| Maximum Store Value limit in wallet | Rs.2,000/- |
| Cumulative maximum daily spend limit | Rs.4,000/- |
Frequently Asked Questions For KVB UPI LITE - Click here
