Tue, December 10, 2024
Mon, December 9, 2024
[ Mon, Dec 09th 2024 ]: BBC
Reeveswantsresetwith E Utoboostgrowth
[ Mon, Dec 09th 2024 ]: Daily News
Tanzaniaspathtoprosperity
Sun, December 8, 2024
[ Sun, Dec 08th 2024 ]: AOL
Wall Streets 2025outlookforstocks
Sat, December 7, 2024
[ Sat, Dec 07th 2024 ]: AOL
Whatiscreditcardchurning
Fri, December 6, 2024
Thu, December 5, 2024

Digitalpayments Howdo UPIUPI Lite NEFTRTG Swork Knowthedifferenceschargestimetaken

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. tg-swork-knowthedifferenceschargestimetaken.html
  Print publication without navigation Published in Business and Finance on by Business Today
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  The contemporary payment methods, such as digital wallets and online banking, have significantly transformed the way funds are transferred between individuals and businesses.

The article from Business Today discusses various digital payment methods in India, detailing how UPI, UPI Lite, NEFT, and RTGS work, along with their differences, charges, and transaction times. UPI (Unified Payments Interface) allows instant money transfers between bank accounts using a mobile app, with no charges for transactions up to Rs 1 lakh, and transactions are processed in real-time. UPI Lite is designed for small-value transactions up to Rs 200, enabling offline payments without real-time bank interaction, which reduces transaction failures. NEFT (National Electronic Funds Transfer) facilitates one-to-one funds transfer, available 24/7, with no minimum or maximum limit, and transactions are settled in batches with no charges for transactions up to Rs 1 lakh. RTGS (Real Time Gross Settlement) is used for high-value transactions above Rs 2 lakh, processed individually and in real-time, with a fee of Rs 2 lakh to Rs 5 lakh costing Rs 25, and above Rs 5 lakh costing Rs 50. The article highlights the convenience, speed, and cost-effectiveness of these digital payment methods, aiding consumers in choosing the right option for their needs.

Read the Full Business Today Article at:
[ https://www.businesstoday.in/personal-finance/banking/story/digital-payments-how-do-upi-upi-lite-neft-rtgs-work-know-the-differences-charges-time-taken-456560-2024-12-08 ]