Paytm Unveils UPI Lite Auto Top-Up For Daily Payments Under INR 500

Days after launching ‘UPI International’ in select overseas markets, fintech giant Paytm has now rolled out Unified Payments Interface (UPI) Lite automatic top-up facility for daily payments under INR 500 that do not require a pin.

The feature will allow users to automatically recharge their UPI Lite balance when it falls below a set limit, Paytm said in a filing.

Payments up to INR 500 can be made per transaction without putting a pin in UPI Lite with a daily limit of INR 2,000.

With this feature, the company aims to facilitate user’s daily payments, including food, metro and bus rides among others. 

It will further help users in a “clutter-free bank statement as routine payments are processed through an on-device wallet,” the filing added. 

Shares of Paytm were trading 1.3% lower at INR 889.15 on BSE at 10:45 AM today (November 25).  

A few days ago, the company launched UPI International which users can avail in countries including UAE, Singapore, France, Mauritius, Bhutan and Nepal, among others. 

Indians traveling to these countries can opt to activate the service for up to 90 days depending on the duration of their trip. 

The company is currently on a launching spree as a few weeks ago it has also launched a new feature which lets users download their UPI transaction statements directly from the app. It will help users in tracking expenses, manage budgets, and prepare for tax filing, the company said.

On the financial front, the company posted a consolidated profit after tax (PAT) of INR 930 Cr in the September quarter of the financial year 2024-25 (Q2 FY25) as against a loss of INR 292 Cr in the year-ago period.

However, the profit was effected by a one-time exceptional gain of INR 1,345 Cr on account of sale of its entertainment ticketing business to Zomato.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.