Image Source: thequint.comUnified Payments Interface supported the Paytm, is an e commerce company in Noida in New Delhi. Now it is too easy to transfer money through the Paytm wallet app. For add the money in your Paytm wallets user should be used their UPI ID.
National Payments Corporation of India in month of August of 2016 launched the Unified Payment Interface (UPI). Users can easily transfer money between two different bank accounts by their Smartphone. First the users should be creating Virtual Payment Address and link it to a bank account.
It is as easy as like message sending yes I’m talking about the money transferring process through the UPI app, here users could not be remember the Id and Password of net banking or the bank account details. For bank funds transfer IFSC code and bank accounts details some several steps are doing but here all these process eliminates.
Customers will be refilling and transferring money from their exiting account to another account or another account to his or exiting account through the UPI enable app Paytm.
All the Paytm accept the payment from other UPI apps since QR codes for Paytm merchant is interoperable. eSign and eKYC have been started by the Paytm to ensure the all important information and for the mobile payments and commerce solutions.
Nitin Misra, senior vice president, Paytm said “We have implemented a deep integration between our payment system and UPI. This will not only help customers add money into their Paytm Wallets, but also act as a strong foundation for our upcoming Payments Bank. Going forward, we will continue to leverage various India Stack features to bring innovative and cost-effective services to our fellow Indians.”
New features include App Password on Android, toll free number for users support in 10 regional language including Hindi launched by the Paytm within last few months.
After demonetisation, over 7 million near about Rs 120 crore in a single day transacted by through the Paytm. The target is cross $ 5 billion GMV sale within last four months.