Paytm Adds New Feature: Enables Users To Receive Money Via UPI

Showing support for the government-backed Unified Payment Interface (UPI) on its platform, Paytm has now enabled users to transfer money to others using its app integrated UPI feature.

At present, only Android users will have access to this feature. However, the iOS version of the feature will be rolled out very soon.

With the integration of this new feature, users can create their own Paytm BHIM UPI ID through the app. The ID will be issued by Paytm Payments Bank. There is also a provision for users to link their existing UPI ID with other banks.

The company in a press release stated “Paytm users can link any of their savings bank account with a unique Paytm BHIM UPI ID and start sending & accepting money. Paytm BHIM UPI IDs are being accepted across all banks and BHIM UPI apps.”

Paytm’s latest feature will be a great boost to the government-backed UPI platform. With 280 million users and more than 100 million app installs, the digital wallet is certainly a force to reckon with.

The company will be imparting training to its partners on how to create Paytm BHIM UPI ID and accept money using the same. It will also enable the merchants to add multiple bank accounts using a single Paytm BHIM UPI ID, and accept money directly into their bank accounts.

It is worth mentioning that users currently have a limit of sending up to Rs 1 lakh per day using BHIM UPI ID, according to National Payments Corporation of India (NPCI) guidelines. However, no such limit exists on receipt of money.