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Paytm Payments Bank Ltd. (PPBL) on Tuesday rolled out a slew of new features for Paytm UPI, including 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.
In a social media livestream organised by PPBL, Vijay Shekhar 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 payments bank to go live with UPI Lite on the Paytm Super App and has seen rapid adoption with about 60 lakh users.
Rupay credit cards
With RuPay Credit Card on UPI, PPBL has now enabled users to link their RuPay credit cards to an UPI ID on the Paytm app. Users can then simply pay by scanning the UPI-enabled QR code via the Paytm app, eliminating the need to carry cards at all times. Users do not have to wait for an OTP SMS, as they can just pay with their UPI PIN.
Paytm UPI lite
Paytm UPI Lite enables lightning-fast UPI payments that never fail, 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.
Also read: Paytm UPI Lite crosses 4 million users with 10 million transactions so far
Talking about Paytm UPI, Surinder Chawla, CEO, PPBL, 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.”
During the social live, Bhavesh Gupta, Board Member, PPBL, said, “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.”
With Paytm UPI Lite now on iOS, iPhone users can make lightning-fast payments that never fail. “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, said while doing a product demo of the new features.
Also read: UPI: How to add a credit card to UPI apps, including Paytm, GPay, PhonePe
He highlighted that users can also pin their favourite contacts or chat with their friends on the Paytm app.
Split bill feature
With the new Split Bill feature, users can create friend groups on Paytm and share 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.
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