UPI Lite Queries

[Sushubh]

so i was finally forced to create a upi lite account today. just a few queries. i do know the answers for a few but seeking confirmation.

1. What happens if I reinstall the app where funds are added to UPI Lite?
2. Same question for if I have to reset the phone! And I do not get a chance to transfer funds back to a bank account. Is there any possibility of recovery of funds?
3. What is the pin for transactions over Rs. 500?
4. And I assume this would work for all UPI IDs unlike the UPI on Rupay.

Ended up having some food at a vendor who had a Paytm placard but it didn't show either wallet or rupay option for payment. I hate paying through bank so decided to keep some funds in UPI Lite for these situations.

 

[Trex]

1.funds will be there, whenever you reinstall the app. It is like wallet with 2000 limit
2.same, money will be there whenever you reinstall the app. Can transfer to bank any time.
3. For above 500 transaction it will automatically turn to other means of payment.
4. Yes

 

[Sushubh]

ooh. i thought it would ask for bank's pin for 500+ transactions. so it only works for under 500 payments? cool.

 

[Trex]

Yes, entering the amount greater than 500 it will ask for UPI pin(linked a/c) or other payment methods.

 

[Smh]

https://www.moneycontrol.com/news/business/personal-finance/rbi-plans-auto-replenishment-of-upi-lite-wallet-what-does-it-mean-to-users-12743148.html