LXME launches India’s first UPI platform exclusively for women. Here’s how it works

Women-focused financial platform LXME has launched LXME Pay, India’s first Unified Payments Interface (UPI) designed specifically for women. The platform aims to transform daily digital transactions into opportunities for saving, investing, and building wealth in the long term.

Unlike traditional UPI apps that offer short-term cashback, LXME Pay rewards users with digital gold for every transaction – including when they receive money from another LXME Pay user. New users can earn up to INR 45 in digital gold on their first transaction.

The app also features a smart expense tracker, through which investors can not only track their spending but can also get insight into different spending categories and receive monthly alerts to help manage their budgets. Users can also easily move from saving to investing with guided tools within the app. How-to tools include one-pagers, blogs, boosters, live sessions, etc.

Using the app, you can also invest via the Bombay Stock Exchange (BSE) in your chosen mutual fund scheme. The investment plans available on the platform include short term plans, long term plans, tax saving plan, enhancement plan, children’s education plan, etc. LXME does not charge any fees in relation to investments. The application is completely free to use for users.

“LXME Pay isn’t just another payments app; it’s a movement. From spending and saving to investing and budgeting, every feature is designed around women’s unique financial behaviors and goals,” said Preeti Rathi Gupta, Founder, LXME, and Ridhi Dhungursi, Co-Founder.

LXME, which launched in 2021, focuses on reducing the gender financial gap by providing tools for investing, saving and borrowing – all within one app. The startup was featured in the official commemorative album of the 2022 Platinum Jubilee Contest and was part of the Google for Startups Accelerator program.