If you use your Paytm Wallet balance every day to make digital payments, there’s good news for you.
Paytm, the digital payment and financial services company, has introduced a new feature just before the New Year that you’ve been waiting for.
Now, you can make payments through your Paytm wallet by scanning any UPI ID or UPI QR code.
This feature is called Wallet on UPI. Previously, you could only use the Paytm wallet by scanning a Paytm number or Paytm QR code.
Also, you could transfer money from your Paytm wallet to your bank account using the bank account number and IFSC code.
Additionally, you could make UPI payments by linking any bank account with the Paytm app.
Currently, not all users have access to this feature; the company is gradually enabling it for everyone.
However, this feature is only available to those who have completed full KYC for their Paytm wallet.
It’s essential to note that you can only transfer money from your Paytm wallet, not your fuel wallet or gift voucher balance.
Now, let’s understand the difference between Paytm UPI ID and Paytm Wallet UPI ID. Your Paytm Wallet UPI ID (@paytmwallet) is connected to your wallet balance, while your Paytm UPI ID (@paytm) is linked to your bank account.
When making transactions with the Paytm UPI ID, you need to enter a 4 or 6-digit UPI PIN each time.
However, transactions through the Paytm Wallet UPI ID do not require a UPI PIN.
Paytm has introduced an amazing feature, and you can load money into your Paytm Wallet in various ways, such as using a debit card, credit card, UPI, or net banking.
Please note that currently, there is a charge for loading money into your Paytm wallet using a credit card.
