Paytm Payments Bank today announced that Paytm users can now transfer money to any mobile number registered with a third-party UPI app via’s Paytm’s UPI-based payments service. Prior to this update, Paytm users could make UPI payments only to other Paytm users. However, with this update, Paytm users will now be able to transfer money via the National Payment Corporation of India’s (NPCI) United Payments Interface (UPI) even to non-Paytm users. Also Read - Google Pay, PhonePe, Paytm, other UPI payment apps to impose transaction limit: Report
This move will not only give Paytm users more flexibility in terms of making payments, but it will also deepen the interoperability between various payment apps. Also Read - Google Play to now support UPI Autopay for subscription-based purchases in India
“This is an important move for the UPI ecosystem, as it will enable more users to send money to any UPI app, encouraging wider adoption,” Paytm said in a statement on the occasion to media. Also Read - How to activate PhonePe UPI using Aadhaar: A step-by-step guide
“We continue to lead UPI payments, empowering users with a robust infrastructure for seamless and secure payments. This further strengthens our mission to drive financial inclusion in the country,” the company added.
Interestingly, the development comes shortly after Prime Minister Narendra Modi praised Paytm as the financial services and digital payments leader in India during a speech at the Mana village in Uttarakhand last month.
Commending the increase in penetration of digital payments in the country, Modi said that women entrepreneurs of the village were accepting digital payments with Paytm and that they have QR codes outside their shops.
He also said that digital payments pioneer Paytm has been at the forefront of India’s digital revolution and is widely used across the country from small villages to bigger cities and towns. The company pioneered the QR code revolution in India. “From offline payment devices to credit, Paytm is enabling merchants with robust business solutions to scale their businesses,” he had said in his speech at the time.
Meanwhile, if you want you want to make a payment from Paytm to another UPI-based app, here is what you need to do:
How to send money to other UPI apps via Paytm
Step 1: Open Paytm on your smartphone.
Step 2: Go to the UPI Money Transfer section.
Step 3: Tap on ‘To UPI Apps’ option.
Step 4: Tap on ‘Enter Mobile No of any UPI app’ option.
Step 5: Now enter the mobile number of the recipient.
Step 6: Enter the amount and tap on ‘Pay Now’ option.