Wallet vs UPI Lite

[pothi]

Which has the least possibility for failed transactions? UPI Lite or Wallet? Or just the plain old UPI?

When I was using the simple UPI interface where we have to enter the UPI PIN, I faced failures. In all occasions, the funds reached the other end after a couple of working days. Since I know the vendors, I got the refund in cash when I visited them later.

Technology fails. We can't prevent it. However, which has the least possibility of failures? UPI Lite or Wallet? And why?

 

[s1t2y3a3m6]

UPI lite is made for easy and fast processing and to decrease the burden on regular UPI. So it's sucess rate is higher than UPI.

Wallet is a totally different thing. Wallets never face that much pressure as compared to UPI.

So UPI lite is winner but at the same time having transaction limit.

 

[MrJJ]

Overall upi lite has least chance for failure because upi lite is On-device wallet. Means money (balance) is saved on your device not somewhere on the server, so it doesn't need to send any request to the server to initiate the transaction, everything is done on your device.

On the other hand for other wallet apps money is saved on some server, each time you initiate a transaction it is being verified on the server, so more chance of failure.

Conclusion: UPI-Lite is faster and has less failure chance.

Keep in mind that UPI Lite is only for small transactions (below ₹500) and max cumulative daily limit is ₹4000 and you can only keep max ₹2000 balance in UPI Lite.

 

[pothi]

As per the whole discussion at...

phonepe problem - txn completed after 4 days

I used to face this issue with gpay earlier so I had shifted to phonepe, but after using it for 2 years, now I faced this issue on phonepe too: I paid uber driver via phonepe UPI, and I got an sms saying amount debited from my bank. but in phonepe, the status showed that it is processing...

www.technofino.in

Most failures seem to be due to recipients end. UPI lite and wallet can only solve issues, if any, with the source bank.

 

[rajcasio]

In my case i still don't know who is in charge of UPI LITE. Bank(SBI) or PAYTM?
Amount debited but not reached Merchant.
3 months gone and no proper response.
Didn't contacted bank yet because they will always say we are not responsible.
Didn't take extreme steps to recover as the amount is 50 INR

 

[pothi]

In my case i still don't know who is in charge of UPI LITE. Bank(SBI) or PAYTM?
Amount debited but not reached Merchant.
3 months gone and no proper response.
Didn't contacted bank yet because they will always say we are not responsible.
Didn't take extreme steps to recover as the amount is 50 INR

That's unfortunate. From my understanding, the bank can not take responsibility for transactions as its responsibility is over after loading the amount into the device for UPI Lite functionality. So, the app has to take responsibility in this case. I mean PayTM.

 

[yusuf646]

Which has the least possibility for failed transactions? UPI Lite or Wallet? Or just the plain old UPI?

When I was using the simple UPI interface where we have to enter the UPI PIN, I faced failures. In all occasions, the funds reached the other end after a couple of working days. Since I know the vendors, I got the refund in cash when I visited them later.

Technology fails. We can't prevent it. However, which has the least possibility of failures? UPI Lite or Wallet? And why?

Google Pay's UPI Lite is a better option. It's faster than any other UPI app (applicable only for UPI Lite, Google Pay is very slow if normal bank UPI transactions are considered). However, due to the very low transaction & balance limit of UPI Lite, I use Slice Wallet for all my UPI transactions. It's faster, easier, and doesn't require a UPI PIN, it uses biometrics for processing transactions. It keeps my bank transactions clean, and as of now, it's well rewarding too. I've received around 350 rupees cashback in just a month, and it's still counting.