Paytm Payments Bank Ltd (PPBL) announced new features for Paytm UPI. These features include UPI Lite on iOS, RuPay Credit Card on UPI, Split Bill and alternate UPI ID with the Paytm app to hide mobile numbers and more. Vijay Shekar Sharma, Founder and CEO, Paytm and Chairman of Paytm Payments Bank, announced the new features in the presence of Bhavesh Gupta, Board Member, PPBL and Surinder Chawla, CEO,PPBL. PPBL was the first bank to adopt UPI Lite on the Paytm Super App and has seen 60 lakh users.
Paytm UPI Lite: UPI Lite enables low-value transactions. It makes small transactions easier and quicker. The maximum UPI Lite transaction limit is Rs 200 with a maximum cumulative limit of Rs 4000. Paytm UPI Lite never fail in payments even during peak transaction hours.
“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 bills, Paytm tags, and alternate UPI IDs on the Paytm app,” Vijay Shekhar Sharma, Chairman, Paytm Payments Bank, and CEO of Paytm, said.
“We are a full-stack technology bank. We were the first to launch UPI Lite; the same is true for the RuPay credit card, and this innovation will continue. Our latest product, Paytm UPI Lite, is one of the biggest innovations that will propel UPI to the next level. Almost 60 lakh users today enjoy superfast payments with Paytm UPI Lite.” - Surinder Chawla, CEO, PPBL
“There are 70 lakh small business merchants who use Paytm Soundbox. With Paytm UPI Lite, payments are successful 99.99% of the time. The trust and relationship with the bank continue with Paytm UPI Lite. A total of 13 banks have gone live on UPI Lite to date. RuPay credit card on UPI is the most disruptive move in payments after Wallet and UPI payments.” - Bhavesh Gupta, Board Member, PPBL
“We have brought multiple features to the Paytm app that are aimed at empowering users. With RuPay Credit Card on UPI, users can pay with RuPay credit cards and also earn reward points. NPCI is working on enabling customers to pay for subscription services through UPI Autopay with a credit card as the funding source.” - Abhishek Madan, Vice President, UPI Product, PPBL
iPhone users can make lightning-fast payments that never fail, thanks to Paytm Lite now on iOS.
Rupay credit cards: PPBL has now enabled users to link their RuPay credit cards to an UPI ID on the Paytm App. Users can pay by scanning the UPI-enabled QR code via the Paytm App, instead of carrying cards all time. Users now will not have to wait for OTP, SMS, as they can just pay with UPI PIN.
Split bill feature: The new Split Bill feature has the option of creating groups on Paytm and sharing the bill in any group. Users can also tag the payments made on Paytm, with which they can view all payments made under a certain tag at any time.