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Paytm Payments Bank Limited (PPBL) on Monday said Paytm app users 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 make transactions with a registered UPI ID across payment apps.
This further deepens Unified Payments Interface (UPI) interoperability and roots for the adoption of mobile payments.
Wider adoption
“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”, a Paytm Payments Bank Limited Spokesperson said.
This empowers users to get the benefit of interoperability across all UPI-based payment apps, ensuring a superfast and seamless payments experience.
National Payments Corporation of India (NPCI) has enabled all payment services providers to access its universal database and make UPI payments interoperable.
PPBL continues to lead UPI payments as the largest beneficiary bank and a leading remitter bank. According to the latest report by NPCI, as a beneficiary bank PPBL has registered over 1,614 million transactions and as a remitter bank, it has registered more than 362 million transactions in October 2022.
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