Mobile wallet companies such as Paytm, Mobikwik, Payumoney, PhonePe and much more have seen a massive increase in users and digital transaction after demonetization. Now, Paytm have enables UPI (Unified Payment Interphase) app. Paytm already allows users to add money to wallet via net banking, credit, and debit cards.
Know how to add money to Paytm wallet using UPI:
Know how to add money to Paytm wallet using UPI
Follow this steps:
1. Login to Paytm.com using your credentials and click on add money to wallet button on the right.
2. Enter the amount you want to add.
3. You can see options to add money using net banking, credit card, debit card and UPI option. Select UPI as the payment method, enter your Virtual Payment Address (VPA) and click 'Pay Now'.
4. Your UPI enables apps would show a collect payment notification. Select the correct transaction and click on 'Approve'.
5. The user will get a payment confirmation.
You must have a UPI-enabled app on your smartphone to transact using UPI.
Limits on transactions
There is a daily upper and lower limit to the amount of money you can add to your Paytm Account using UPI platform. According to RBI's guidelines, users can add anywhere between Rs 1 to 20000 at one go to their Paytm account. Read Also: How To Book Train Tickets Using Paytm
What is UPI?
UPI is a payment platform which allows users to transfer money between two organizations, with just a few clicks. Using this interface will help reduce the hassle of typing all the bank details, card details, wallet details etc. Only we need is a smartphone to use UPI.
What is VPA?
For adding money to Paytm by UPI you must have a VPA. The Virtual Payment Address or VPA is an address given to the user of UPI payment system. VPA is needed to transfer fund. VPA is used in place of bank account address and is highly flexible. The user can choose it and change it anytime. The virtual payment address resembles the email ID. For example, you can have a rahul12@hdfcbank, 124334@PNB.
Not available for android users
Now android smartphone users can not avail this facility. They can't add money to their Paytm account using UPI. UPI is currently live across web and iOS. The mobile wallet company said that Paytm will enable UPI on their Android app very soon.
Mobile number should be same
The mobile number registered with the bank must be the same as the one users are currently using. In case they are different, users have to contact the respective bank to change their registered mobile number.