This move empowers users to benefit from interoperability across all UPI-based payment apps, providing a superfast and seamless payment experience.
“This is an important move for the UPI ecosystem, which will enable more users to send money to any UPI app, encouraging wider adoption. We are at the forefront of UPI payments, empowering users with a robust infrastructure for seamless and secure payments. This further strengthens our mission to increase financial inclusion in the country,” a Paytm Payments Bank Ltd spokesperson said in a statement.
How you can send money to other UPI apps using Paytm
- To start, you must open Paytm and tap on ‘UPI Money Transfer’.
- In the ‘UPI Money Transfer’ section of the Paytm app, tap on ‘To UPI Apps’.
- Now, you need to tap on ‘Enter mobile number of any UPI app’ and enter recipient’s mobile number.
- You will find a payment page where you enter the amount and tap on ‘Pay Now’ for instant money transfer.
According to Paytm, the National Payments Corporation of India (NPCI) has enabled all payment service providers to access its universal database and make UPI payments interoperable.
Paytm Payments Bank Limited (PPBL) continues to be the largest beneficiary bank and leading remitter bank in UPI payments. According to the latest NPCI report, as the beneficiary bank, PPBL recorded 1,614 million transactions. As a remitter bank, it recorded more than 362 million transactions in October 2022.