Paytm Payments Bank Announces New Features For UPI Payments; Details Here

Paytm Payments Bank on Tuesday announced a slew of new launches for Paytm UPI.

In a blog post, Paytm said that the bank has become the first to go live with UPI Lite on iOS. Paytm Payments Bank also announced its latest features like RuPay Credit Card on UPI, Split Bill, pin favorite contact and chat with friends, set an alternate UPI ID with Paytm app to hide mobile number, and more.

Vijay Shekhar Sharma, Founder and CEO, Paytm and Chairman of Paytm Payments Bank announced these features in through a social media live stream along with others.

“We continue to drive innovation in India and empower users with the security and safety of Paytm UPI. We have also brought many cool features like split bill, Paytm tags, alternate UPI ID on the Paytm app,” a Financial Express report quoted Vijay Shekhar Sharma as saying.

Paytm Payments Bank was the first payments bank to go live with UPI Lite on the Paytm Super App and has seen rapid adoption with about 60 lakh users, the company said in the blog post.

With RuPay Credit Card on UPI, users will be enabled to link their RuPay credit card to an UPI ID on the Paytm app. Users can then pay by scanning the UPI-enabled QR code via the Paytm app, eliminating the need to carry cards all the time. Users don’t have to wait for OTP SMS, they can just pay with their UPI PIN.

Paytm UPI Lite will enable lightning-fast UPI payments that never fail, even during peak transaction hours, the company claimed. Almost 60 lakh users use Paytm UPI Lite.