Paytm, the Top leading digital payment service in India roll out another features for its users. Paytm integrated BHIM UPI to its application. Eariler today, Paytm introduced Paytm Inbox messaging service. But the update is still not live on the Google Play store, but Paytm says it will be available shortly. Introducing payments via BHIM UPI will help Paytm broaden its customer base and help expand the useability of the instrument.
Paytm users wil now be alllowed to send money over BHIM UPI from Paytm app.
How to use - Firstly , you need to create a Paytm Virtual Address (VPA). For this ,tap on your BHIM Upi icon, here you will have to create a new VPA on your Paytm app. Select your bank account and proceed . Now your bank will verify your mobile numbers , when your mobile number is verified then your VPA is also created eg.1234567890@paytm.
This VPA is used to send and recieve payment from your linked saving bank account.
With Paytm BHIM UPI, you can now make seamless and instant money transfers directly between two bank accounts.
You would not need your bank details or IFSC code to recieve money , all you need is the Paytm UPI ID of the person to send the money.
Paytm users can link their multiple bank accounts and accept and send money on which account they wish.
"As a part of our journey of being a truly open payment platform, consumers and merchants should both have complete range of choices to select payment source and destination," added Renu Satti, MD and CEO, Paytm Payments Bank. "With the availability of BHIM-UPI to our large user base and merchant network, we believe the next wave of digital payments will begin soon."
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