UPI is a real-time payment service that allows you to make fast and easy online money transfers. To transfer money via UPI on the Paytm app, you do not need to add the bank account details of the beneficiary or await your bank’s approval for adding a beneficiary unlike various other traditional methods of online money transfer. On the Paytm app, all you need is to enter the receiver’s mobile number and you can make immediate money transfers.
Paytm is one of the best UPI apps through the provision of quick, successful transactions that gives a hassle-free experience to the users. It allows you to send and receive money from your friends and family just by using the receiver’s mobile number. You can also make payments at shops/merchants simply by entering their contact numbers or by scanning their QR codes. With Paytm, you can scan the QR codes of all UPI service providers, and not only of Paytm. You can also earn cashback and various discount vouchers on every UPI payment.
Why Paytm is the Best UPI Money Transfer App?
Increasing digitization increases the risk of fraud and financial mishaps. This leads to one of the major concerns of people doing online money transactions, which is their safety against frauds and scams.
Unlike many other online platforms, Paytm is a safe UPI app with all UPI payments secured by 2-factor authentication – your Paytm login password and your bank’s secured UPI PIN. To make UPI payments, you simply need to create a UPI account on your Paytm app, in the process of which, you will have to link your bank account in order to perform direct bank to bank transfers. Follow the following to set up your UPI account on Paytm :
- DownloadÂ the Paytm UPI payment application
- Just enter your mobile number. If you have a dual SIM phone, you may be prompted to select the SIM slot in which your mobile number is present
- An SMS will be sent from your number to verify your mobile number
- Once this is done, you will have to select your bank name from the list that will be presented to you. Please make sure that the mobile number registered with your bank is the same as the one you entered earlier. Your bank account details will now be fetched from the bank using your mobile number
- If you are linking your bank for the first time, you will be asked to set up a UPI PIN. You will need your debit card details for setting this up
- Your bank account is now linked via UPI and you are ready to make your first payment!
There are multiple benefits of linking your bank account with your Paytm app, some of which are-
- You can make direct transfers to the bank accounts of your friends and family members instantly only using their contact number
- You can recharge your mobile and buy subscriptions through the Paytm UPI service
- Paytm allows its users to can scan the QR codes at retail shops and make quick payments to merchants/vendors
- Paytm offers cashback, discounts, or vouchers on every payment
- With every Paytm UPI transaction, you get a reference ID that can be used for getting any issues resolved with its 24*7 customer support facility. Alternatively, you can also give a call at 0120-4456-456 to get your queries resolved with Paytm’s customer support
- Paytm UPI transactions are completely free of any kind of charges/additional costs
- Paytm allows you to perform transactions with an upper limit of Rs. 1 lakh on the total amount spent in a day
- You can pay home utility bills, credit card bills, loan EMIs, etc. using the Paytm UPI feature
- Unlike other online methods of money transfer such as IMPS, NEFT, etc. the UPI feature on the Paytm app saves a lot of your time and energy in entering various details of the payee, making UPI money transfer a simple, quick, and hassle-free process
Wrapping it up:
If you are wondering about which is the best UPI app in India, or which app gives you more cashback and offers, Paytm is the answer. You can do all kinds of payments on one platform, go digital at the ease of your time and comfort on the Paytm app. Whether it is about paying your electricity, DTH, phone, or credit card bills or making payments at merchants, you can do it all through UPI payment on the Paytm app. All of this only by entering the contact number of the receiver. So, now when you are asked which is the best UPI app for money transfer, just say #Paytmkaro.