Federal Bank Introduces UPI Lite for Effortless Small-Value Digital Payments 

Mumbai, November 15, 2023: Federal Bank, a pioneer in banking innovation, launches UPI Lite, that will power small-value digital transactions in India. 

NPCI introduced UPI Lite—a simplified version of the Unified Payments Interface (UPI) system to cater to the growing demand for faster and more efficient small-value payments.  

Benefits of UPI Lite for Customers include reduction in transaction time, a ready to access bank statement, higher payment success rate and enhanced security. UPI lite account can be created within the existing UPI app without downloading a new app. 

Shalini Warrier, Executive Director, Federal Bank said, “UPI has been at the centre of India’s digital revolution and the addition of UPI Lite to this ecosystem provides customers a faster, more efficient and cost-effective alternative to cash transactions. We at Federal Bank are proud to be at the forefront of implementing UPI Lite and provide customers with greater digital convenience.”