When you open Paytm app, you will see UPI money transfer section there. By tapping there you need to go to two UPI apps and there you will see the Inter Mobile Number section of any UPI app.
New Features in Paytm! Yes, now you can pay through Paytm on any other payment application. It is also special that Paytm, the third largest UPI payment app in the country, has become the first app to do so. Not only this, the special thing about this facility of Paytm is that you can make such payments using any mobile number.
We tell you that earlier you could send money between two users on the same platform by scanning a QR code with a UPI ID or using a phone number and bank account, but now you are given a fourth option. Means you can send money to any other UPI app with just phone number.
If you don’t know, let us tell you that Paytm is the third largest UPI payment app in the country after Phone Pay and Google Pay.
Let us know how you can transfer money from Paytm to other UPI payment apps using mobile number only.
When you open Paytm app, you will see UPI money transfer section there. By tapping there, you need to go to two UPI apps and there you will see the Inter Mobile Number section of any UPI app.
By typing here, enter the number you want to send money to, enter the amount there and click and your payment will go.
Clearly, innovation is happening day by day and the trend of fast money transactions through UPI is increasing. Let us tell you that transactions from UPI are continuously increasing and a revolution is being felt in the world of digital payments and it is going to increase.
Before UPI payments, there was a trend of digital wallets where there were all the formalities like KYC etc., but none of these had to be done on UPI.
Earlier, the management of RTGS and NEFT payment systems in India was with the Reserve Bank of India. On the other hand, systems like IMPS, RuPay, UPI are operated and managed by NPCI i.e. National Payments Corporation of India.
If we tell you some important things about UPI, it transfers funds in real time and you can link multiple bank accounts in the same application. That is, if you want to send money to someone, then you can send money to him immediately. Also, you can send money using a person’s mobile number, account number or UPI ID.
You can do this entire process in just a few seconds. Explain that UPI is built on the same model as IMPS, so you can bank 24×7. Another special thing about it is that for shopping with UPI, you don’t need OTP CVV code, card number, expiry date etc. like credit or debit card.
That means you can transfer any amount of payment to anyone’s account easily and hassle-free. This is why UPI is growing rapidly in the world of online payments.
– Vindhyavasini Singh