Paytm adds UPI to its digital wallet
Leading mobile wallet Paytm has added UPI feature on its digital wallet.
“Our customers across India can now add money to their Paytm Wallets using their UPI ID. This will help our customers add money to their Paytm Wallets easily,” the company said.
Paytm said that one can add up to Rs 20,000 in their Paytm wallets in one go. It further said that there are no charges to add money from UPI to your Paytm account.
However, Paytm said that a person will have to download a UPI-enabled app and create an account in order to transfer money to Paytm.
The government recently has given a push to the unified payment interface (UPI) with Prime Minister Narendra Modi promoting it with the name of 'BHIM'. This enables people in the country to make payments much easily through the system without a need for even internet.
This however comes as a threat to mobile wallet apps which have been enjoying a good growth in users and payments since demonetisation.