Paytm goes live with onboarding of new UPI users for super fast payments

One97 Communications Limited, the parent company of Paytm, has officially launched the onboarding of new UPI (Unified Payments Interface) users on its app, following recent approval from the National Payments Corporation of India (NPCI) on October 22. This move positions Paytm as a frontrunner in India’s digital payment landscape, allowing users to link their bank accounts and create new UPI IDs for swift transactions.

A Paytm spokesperson said, “As the pioneers of mobile payments in India and a homegrown champion, we remain committed to investing in payments. We see a tremendous opportunity on the consumer side with UPI, and are dedicated to bringing the best in innovation for users.” This initiative highlights Paytm’s focus on enhancing user experience in digital payments.

Users can now easily create UPI IDs on the Paytm app, enabling them to link their bank accounts for seamless transactions. The service is available in collaboration with major banks, including SBI, HDFC Bank, Axis Bank, and Yes Bank. 

Here’s a step-by-step guide on how to create your UPI ID on Paytm and start enjoying hassle-free, secure payments.

Enter Mobile Number
Open the Paytm app and enter your mobile number to get started. Verify it using the OTP sent to your number.

Link Your Bank Account
Select the option to link your bank account to activate Paytm UPI. This will enable you to send and receive money seamlessly.

Choose Your Primary Bank Account
From the list of linked bank accounts, choose the one you want to use as your primary account for UPI transactions.

You're Done
Once you’ve selected your bank account, your UPI ID is created. You can now use your UPI ID to send or receive money instantly through Paytm. Your UPI ID will be created with one of the following: @pthdfc, @ptaxis, @ptsbi, or @ptyes.

Once set up, users can make payments to merchants or individuals, facilitating peer-to-peer transfers and enhancing interoperability with other UPI apps. Additionally, Paytm has introduced UPI Lite for small transactions under Rs 2,000, helping to keep bank statements uncluttered. Users can also link their RuPay Credit Cards with UPI and use the auto-pay feature for effortless bill payments.