Paytm allows users to receive and send money via UPI

By Vandita Jadeja | 2017-11-10

Paytm announced support for the Unified Payment Interface on its platform which will now allow users to be able to transfer money using in-app UPI feature. This facility is currently available for Android users only. The iOS version will be rolled out in coming days.  This feature is set to give a fresh boost to the government backed UPI platform. The digital wallet form has about 280 million users and more than 100 million app downloads. It is also backed by five million offline merchant players. They plan to train its partners to create Paytm BHIM UPI ID and accept money through the same. Users will also have an option to add multiple bank accounts with a single Paytm BHIM UPI ID and accept money directly into the bank accounts.

There has been a growth of 77 times in digital transactions through the UPIN platform in the last one year. About 76.96 million transactions were made in October via UPI, which is up from 30.98 million in September. WhatsApp’s anticipated payment feature is also expected to be based on the UPI platform. It is expected that WhatsApp will launch the payment facility by the end of next month while Paytm has been aggressively working to bring new features on the app. Paytm introduced an in app messaging facility called Inbox, which allowed users to message as well as send money via the app. Like WhatsApp, users can send and receive messages, multimedia, location and recall messages through Paytm Inbox. The company mentioned that Inbox had garnered more than 3 million users within two days of the launch. More than 15 million messages were exchanged during the period.

Here is a quick step by step guide on making UPI payment through the app:

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