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Paytm’s shares surge by 6.03 per cent to Rs 789.95 apiece on the BSE.
With the latest NPCI approval, users will be able to create new UPI IDs on the Paytm app.
One97 Communications Limited (OCL), which owns Paytm, on Thurday went live with the onboarding of new UPI users on the Paytm app. This comes after the Company received approval from the National Payments Corporation of India (NPCI) on October 22, to onboard new UPI users.
Following this, the company’s shares continued rally on Thursday and surged by 6.03 per cent to Rs 789.95 apiece on the BSE.
“Paytm remains committed to investing in payments. We see a tremendous opportunity on the consumer side with UPI, and are dedicated to bringing the best in innovation for users,” said a Paytm spokesperson.
With the latest NPCI approval, users will be able to create new UPI IDs on the Paytm app, by seamlessly linking their bank account(s) to the Paytm app for super fast payments. The company offers this in partnership with leading banks, including SBI, HDFC Bank, Axis Bank, and Yes Bank.
On the Paytm app, users can seamlessly make payments to any merchant or individual, facilitating Peer-to-Peer (P2P) transfers between bank accounts and other UPI apps, thereby enabling interoperability. Additionally, Paytm offers UPI Lite for small transactions under Rs 2,000 daily, ensuring uncluttered bank statements. Users can also link their RuPay Credit Card with UPI and utilise the auto-pay feature for effortless bill payments. Moreover, they can check their bank account balances and make self-account transfers with ease.
“As the pioneer in mobile payments, Paytm continues to innovate with its revolutionary Paytm soundbox, card machines, and various other solutions tailored for merchant payments, reinforcing its commitment to enhancing the payment experience for everyone,” the Paytm spokesperson said.
