The problem with UPI lite is that it only allows INR 500 transaction per day without using UPI PIN. I am still unable to relate why I would need INR 500 transaction with the lite version. I could easily withdraw cash or borrow money for 24 hours from a friend for such an amount. I somehow feel they needed a new feature to be added to the UPI and they came up with an abrupt new feature. As per my understanding not many have availed this feature. The same fate will happen with the AI chat bot. Indians are very particular about finance and don't generally accept new technology associated with it.
I am using UPI lite on daily basis and I find it useful because I don't have to enter my PIN every time I make a transaction.
I am using Phonepe and we can add 1000rs to UPI lite which is sufficient for day to day transactions.
Just when the balance is low we can add more funds to it to keep it going and I personally think it's good that amount is restricted to 1000.
It will keep us secured from unwanted transfers of large amount.
Coming to the AI chat based payments I don't find it useful at all. I mean, why would I chat with AI when I have to make the payment.
The way it is now is far better. Just enter the details and send. Chatting for payments would be ridiculous and I would definitely not use it.