Paytm Wallet is now interoperable with any UPI QR codes and online merchants

Paytm Wallet customers with full KYC can now scan any UPI QR code and pay using their wallet balance.

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Paytm Wallet interoperable with any UPI QR codes
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Paytm Payments Bank Limited (PPBL) has announced that Paytm Wallet customers with full KYC can now scan any UPI QR code at offline stores, apps, and websites and pay using their wallet balance. The National Payments Corporation of India (NPCI) announced Wallet interoperability guidelines on March 24, 2023.

“We welcome NPCI’s interoperability guidelines that allow Paytm Wallet to be used in every nook and corner of the country. This is in line with our mission to bring mobile payments to every Indian everywhere. As the pioneer of mobile payments and QR-based payments, this move presents incredible growth opportunities for India’s payment ecosystem. In line with RBI’s mission of making ‘Har Payment Digital,” we are the largest acquirer for UPI merchant payments,” said a Paytm spokesperson.

When Paytm Wallet customers pay at merchants acquired by other payment service providers (PSP), payment gateways (PG), and payment aggregators (PA), Paytm Payments Bank will get 1.1 percent of the payment amount as interchange revenue. Further, the bank will pay 15 basis points (bps) of charges for adding more than Rs. 2,000 using UPI, and similarly, Paytm will also earn 15 bps when any other wallets use PPBL to add more than Rs. 2,000 through UPI. 

To recall, Paytm Payments Bank is the first bank to launch the UPI LITE feature, which is a simplified version of UPI. According to the company, Paytm Payments Bank has the most UPI payment merchants in India, and it has also been the top UPI beneficiary bank for 21 consecutive months and registered 1,657.41 million transactions in February 2023.

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Sumit Roy

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Sumit is the Editor-in-chief at OnlyTech. He loves to cover news about Windows PCs, Android, Smart Devices, and more. You can always find him experimenting with electronic devices when not in front of a computer.

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1. Open the Paytm App

2. And Tap on the Electricity Icon on the homepage

3. On the top, Select ‘Apartments’

4. Select the city where your Apartment is situated

5. Select Apartment Name.

6. Enter your Apartment Number.
Then, tap on Proceed to see the Consumer Details such as consumer name,address, meter number, etc.

7. Enter the Amount by which you want to recharge your prepaid electricity meter in the apartment.

8. By selecting the Fast Forward option here, You can proceed directly to payment page, otherwise you will be moved to deals page.

9. Tap on Proceed

10. Select the deal of your choice and apply the relevant promo code if any.

11. Tap on Proceed to Pay

12. Select your preferred Payment Mode here. You can either pay with your Paytm Wallet or use a Debit Card/Credit Card or Net Banking. You have the flexibility to deselect the Paytm wallet option if you do not wish to use the wallet balance. As of now we will use Paytm Wallet to make the payment.
Click on ‘Pay Now’ to confirm your payment.

13. On successful payment you will see success on the order summary page.
Here, you can also see details like order number, payment status etc. A confirmation of payment will be sent to your registered mobile number & email id too.

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Leading digital payments firm Paytm plans to launch a messaging service to rival Facebook Inc’s WhatsApp by the end of August, a source familiar with the matter said on Tuesday.

SoftBank and Alibaba-backed Paytm is seeking to attract people in India to use the new messaging service embedded in its app, which many already use to buy everything from food to plane tickets.

Paytm plans to launch messaging service to rival WhatsApp | tech | Hindustan Times

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