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The Crux

UPI Lite is a nod to the mobile wallet era

Team CapTable

February 24, 2023 | 3 Min Read

February 24, 2023 | 3 Min Read

Unified Payments Interface nearly made e-wallets redundant in 2016. Now, it has introduced a feature for small-value transactions that resembles the very thing it once disrupted.

“You have become the very thing you swore to destroy.” That’s a memorable movie line (IYKYK). And it’s perhaps one way to describe the Unified Payments Interface’s new feature.

UPI’s rollout in 2016 almost killed off mobile payment wallets, which consequently made sense for only some use cases of domestic remittance. Now, after processing billions of transactions, it has introduced a service which resembles the very mode it disrupted.

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