Paytm Users can now send money to people who do not have paytm account
Paytm users can now send money using UPI to any mobile number that has an account with a third-party UPI app.
All UPI payment apps now support UPI transactions from Paytm users to any mobile number. On Monday, the provider of digital payment services announced that Paytm users can send UPI payments to any UPI-registered mobile number, even if the recipient does not have a Paytm account.
“The UPI ecosystem will benefit from this action as more users will be able to send money to any UPI app, which will promote greater adoption.” “We continue to be the market leaders in UPI payments, providing users with a solid infrastructure for quick and secure transactions.” This reinforces our goal of promoting financial inclusion in the nation.” In a formal statement, Paytm Payments Bank Limited made a statement.
With this new Paytm feature and instant money transfers through the Paytm app, more people will switch to the Unified Payments Interface (UPI). Therefore, the recipient can send money via Paytm UPI transfer if they have a registered UPI ID on Gpay, Amazon Pay, PhonePe, or any other payment app. Receivers previously had to have a UPI ID registered on the Paytm app in order to receive mobile money transfers.
How to use Paytm to send money to other UPI apps
- Open Paytm and click on “UPI Money Transfer.”
- Under the UPI section, click on “To UPI Apps.”
- Now, enter the mobile number to which you want to send money. The receipt must contain a valid UPI ID from any third-party app, such as Gpay or PhonePe.
- Enter the amount you want to transfer and click on “Pay Now.”
- Next, verify the transaction by entering your UPI PIN.
- Your funds will be transferred to the recipient’s bank account immediately.
You can also send money via UPI by scanning the QR code of the recipient. To send money via QR code, open the Paytm app and go to “Pay,” then “QR code.” Scan the receiver’s QR code and enter the amount you want to pay. Now enter your PIN to complete your payment transfer.
