UPI LITE TERMS AND CONDITIONS

  • w.e.f July 04, 2024

These UPI LITE Terms and Conditions (“UPI LITE Terms”) apply to and govern the UPI LITE Feature enabled by National Payments Corporation of India (“NPCI”, “We”, “Us” and “Our”) on App. Please read these Terms carefully before accessing or using UPI LITE. By requesting to enable, or using, UPI LITE, you acknowledge that you have read, understood and agree to be bound by the UPI LITE Terms. In the event of conflict between the UPI LITE Terms and any other terms , the UPI LITE Terms shall have an overriding effect.

  1. Introduction:

    UPI LITE is a payment solution that leverages the trusted NPCI Common Library (CL) application to process low value transactions that have been set at below Rs. 500. The solution runs off existing UPI ecosystem protocols for mobile phones to ensure commonality, compliance and system acceptance. The UPI LITE experience is intended to be a customer-friendly approach to enabling low value transactions without utilizing a bank’s core banking systems in real-time, while providing adequate risk mitigation.

  2. TERMS:

You understand, agree, confirm and undertake that:

  1. All your accounts linked to your UPI IDs may not be eligible for UPI LITE. You can enable UPI LITE for one account;

  2. The upper limit of a UPI LITE transaction shall be Rs 500/- and the total limit of UPI LITE Balance shall be Rs. 2000/- at any point in time or such other limits as may be prescribed by NPCI, from time to time. You understand and agree that NPCI may revise the aforesaid limits in its sole discretion and without providing any prior intimation to you;

  3. UPI LITE Balance is only a virtual ‘on-device’ balance and a reflection of UPI LITE Balance allocated by you in your account. No interest will be payable on the UPI LITE Balance. You further understand that actual money or funds with respect to UPI LITE Balance are not transferred to or received by NPCI from your issuing bank. The actual money/funds with respect to your UPI LITE Balance is held and maintained with your issuing bank;

  4. UPI LITE Balance can be replenished by making a top up transaction i.e. allocate / add more funds to UPI LITE from your account;

  5. Your cumulative daily spend limit is capped at ₹4000/- i.e., you cannot do UPI LITE transactions beyond the above limit per day or such other limits as may be prescribed by NPCI, from time to time. You understand and agree that NPCI may revise the aforesaid limits in its sole discretion and without providing any prior intimation to you

  6. In the event your access to UPI LITE is disabled, the unutilised UPI LITE Balance will be credited to your account by your issuing bank. Any refund or reversal of funds under a transaction will appear in your account only.

  7. UPI LITE can be accessed, and UPI LITE transactions can be carried out, by simply logging in the relevant application or platform downloaded on your phone by entering your phone/device biometric or pattern validation details. You understand that separate authorisation or UPI PIN is not required for carrying out transactions using UPI LITE.

  8. UPI LITE transactions other than top up transactions will not be displayed in the statement (pass book) of your account. You will receive SMS once a day for UPI LITE transactions from your issuing bank containing history of transactions carried out during the day;

  9. Any disputes pertaining to enablement, top up or disablement of UPI LITE shall be referred to and handled by your issuing bank;

  10. You are responsible for maintaining the confidentiality of your password and other details associated with UPI LITE Transactions and you are solely responsible for all activities that occur under your password, mobile phones on which UPI LITE is enabled. If you know or suspect that someone else knows your password, you should immediately take appropriate measures to change the same. You shall not hold NPCI responsible for any unauthorized transactions made from your account using UPI LITE including transactions made by entering your login Pin/password. NPCI shall not be liable to your or any other person for any loss or damage which may arise as a result of any failure by you to protect your password or user account or in otherwise complying with the UPI LITE Terms.

  11. Notwithstanding anything to the contrary contained in the UPI LITE Terms, NPCI reserves the right to deny the enablement of UPI LITE to you, suspend access to or terminate your user account, or require you to change your password, at any time in its sole discretion and without any prior notice or liability to you or any other person.