Context:
Paytm has launched a custom UPI ID feature to enhance privacy and security while attracting new users to its platform. This follows NPCI’s approval allowing Paytm to onboard new UPI users after prior restrictions.
Key Highlights:
- Custom UPI IDs:
- Users can now create personalised UPI handles
- Eliminates the need to link UPI IDs with mobile numbers
- Currently available for Yes Bank and Axis Bank users; more banks to be added soon
- Recent UPI Features Introduced by Paytm:
- Transaction hide/unhide option for privacy
- Monthly spending summaries
- Downloadable UPI statements in PDF and Excel formats
- Unified bank balance view across all linked accounts
- Spending categorisation to manage finances
- Receive Money widget for real-time payment alerts
- Scan & Pay widget for instant QR payments
- Auto top-up for UPI Lite (up to â‚ą5,000)
- Global Expansion:
Paytm is enabling international UPI payments for Indian travellers in:- UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal
About Paytm:
- Founded: 2010
- Headquarters: Noida, Uttar Pradesh
- Chairman & CEO: Vijay Shekhar Sharma
