Users of the Paytm app will now be able to transfer UPI payments to any mobile number using any UPI payment app, even if the recipient is not a Paytm subscriber, according to a Monday announcement from Paytm Payments Bank Limited (PPBL).
Users of the Paytm app can now instantaneously transfer funds between different payment applications using a registered UPI ID. This enhances Unified Payments Interface (UPI) interoperability and creates a solid foundation for the adoption of mobile payments. The UPI ecosystem will benefit greatly from this since more users will be able to send money to any UPI app, promoting greater adoption. We remain the market pioneer in UPI payments, giving customers access to a solid infrastructure for quick and safe transactions. The promotion of financial inclusion in the nation is strengthened by this, according to a representative for Paytm Payments Bank Limited.