Paytm has added support for payments using Unified Payments Interface (UPI). The latest initiative will help Paytm users across India to add money to their Paytm Wallets using their UPI ID.
At the time of adding money to your Paytm wallet you will have to select UPI as a payment option and then click pay now. The UPI enables app will now show a collect payment notification following which you will have to select the correct transaction and click on the ‘Approve’ button. You will finally receive a payment confirmation on UPI enabled app and Paytm website.
According to the RBI’s guidelines, customers can add anywhere between Rs. 1 to 20000 at a time to their Paytm account. It must be noted that you will need to have UTI enabled app on your smartphone in order to transact using UPI. This essentially means you have to download UPI apps of banks in which you have accounts and use it for transactions. There are no charges to add money to your Paytm account.
PM Narendra Modi recently launched BHIM app for UPI based payments. Freecharge had teamed up with Axis bank for UPI app on Android. In a bid to bolster the digital payments scene in India even further, PM Narendra Modi had roped in former UIDAI chairman Nandan Nilekani.