UPI Lite limit upgraded and new UPI X Lauched

We're in the 21st century and we have a great advantage of highly advanced technology around us. Because of this high-end technology the banking sector has been revolutionised and the upgraded version is also known as Fintech where the finance is collaborated with the technology. Now sending money to another person is a matter of a few seconds and the same is applicable if in case we want to make a payment to any merchant. it's all possible because of the technology and it is expected that it will evolve more which will make the experience even better and take it to the next level.

India has got its payment system which works in real time and can be used for person-to-person and even for merchant transactions. this payment system is called UPI which works on mobile devices and of course, they have taken all the security and safety measures to ensure that this is not misused by anyone other than the authentic user. this payment system is so advanced that it has also been adopted by some other countries including Singapore.

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With technology, we always should be ready to experience something new because the upgrade is always in process and now the government has launched the upgraded version of the UPI service. UPI Lite was launched a few months back and this was billed for avoiding low-value transactions without any second-layer authentication. This was a good move because this way We can make the payment within seconds without entering any password but it has got a limit of 200 inr which has been revised to 500 recently.

Now another version of UPI has been launched this week and it is known as UPI X. This service will work the same way as up does which settle transaction instantly in real time. with UPI X week should be able to send or receive money without the need for the Internet There are many areas in the country where Internet connectivity is still a problem so this is going to help them and people would be able to use the UPI service for payments.

It is expected that the service will evolve even more and maybe in a few months, we are going to see another upgrade that will make it even better so we need to keep ourselves updated with the news.

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