Now with the recent developments, Paytm Payments Bank users can now make payments via Unified Payments Interface or UPI to non-Paytm users or third-party application users. This movie will bring more users to Paytm as with the removal of this cap, now the payments can be made to any mobile number without restrictions, irrespective of the fact that they are non-Paytm users. Moreover, this further deepens the roots of UPI, which is adapted on a massive level.
Paytm Users Can Now Pay To Non-Paytm Users
As per the official notification from the company, “users on the Paytm app will now be able to make UPI transactions to any mobile number across all UPI payment apps even if the recipient is not registered with Paytm. With this, Paytm app users can instantly receive money from and send money to any mobile number with a registered UPI ID across payment apps.”
Payment Payments Bank can be said as the largest beneficiary and a remitter bank in terms of promoting UPI payments across the nation. NPCI has released the latest UPI-based transaction data for October 2022 and it suggests that as being beneficiary Paytm has recorded over 1,614 million transactions and as being remitter, Paytm has recorded over 362 million transactions.
A representative of Paytm Payments Bank said, “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. 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.”
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Steps For Paytm Users To Send Money To Other Non-Paytm UPI Users:
- Launch the Paytm app first.
- Find the ‘To UPI Apps’ option in the ‘UPI Money Transfer’ section.
- Now enter the mobile number of the recipient after tapping on ‘Enter Mobile No. of any UPI app’.
