Paytm, India’s one of the most used e-wallets has come up with a unique feature of sending and receiving money via UPI feature for better and faster transaction. The government of India supported Paytm digi wallet will now make transactions via Unified Payment Interface (UPI) and the users of this electronic payment gateway can start using this feature on your mobile app.
The new feature of BHIM UPI has kicked off from today for Android use but for iOS users, the UPI feature for money transaction is yet to start in the near future. From today onwards, the Paytm users on Android devices will be able to do all money transactions using the UPI feature in this mobile app.
How Paytm’s new feature BHIM UPI works
To use BHIM UPI feature on the Paytm e-wallet, the Android users will have to first make their own Paytm BHIM UPI ID. The Paytm Payments Bank will then issue the ID to the user who can further link it with their saving banks account.
To now start with the money transaction on Paytm, via UPI, tap on the BHIM UPI icon on the home page of the digital wallet app. You can find this icon on the top bar, right after Pay and Passbook. You will now receive a unique payment ID generated by the app on your registered mobile number. You will now have to link your bank account with Paytm UPI ID. Now the app will create a unique UPI QR code showing three options for money transactions including send money, request money, and scan & pay.
Now you are done to send money to your friends and family by just entering their UPI ID followed by bank account and Aadhaar number. Once you have entered your UPI ID, enter bank details, verify the payment and tap the confirm link and then your transaction complete.
More about Paytm & other UPI- based mobile apps
A few days back, Paytm had introduced a mobile app with the messaging facility called Inbox. The Inbox app by Paytm was started for the users to send messages, multimedia or share location similar to Whatsapp. In the first two days of its launch, Paytm’s Inbox has catered to over 3 million users, with over 15 million messages being exchanged in just two days. Even, the Google has come up with its new app Tez, which is a UPI-based payment service, last month. Till date TEZ, UPI based mobile app has catered to 7 million users, making over 30 million money transactions.