Five Ways Paytm Is Making UPI Safer and Smarter

There are several UPI apps for use, and many are more popular like Google Pay, Paytm, BHIM, PhonePe, etc. However, when it comes to Paytm app, it is making a difference. As we know, UPI apps also come with several additional features. Paytm UPI app has stood unique because of these product innovations, becoming the most trusted and one of the best UPI apps for digital financial transactions. These are its new feature introductions that are truly making UPI safer and smarter.

Paytm – One of the Best UPI Apps

Paytm - this UPI app is known to have introduced technologies like Soundbox and QR codes. These have made a significant difference in the way the whole country is using UPI apps for payments. It is still leading the way through its technological innovations. Paytm has brought some real-world solutions that contribute to the company's position as the top UPI app. These have made UPI apps easier, more secured and feature-rich, catering to the needs of both consumers and merchants.

Let us have a look at some of these feature innovations of Paytm.

5 New Product Innovations of Paytm

Here are the top five new innovations by this UPI app that are making it the first choice of many:

Hide and Unhide Transactions

Out of the several transactions we make through the app, we sometimes wish if we could hide certain. They could be more personal transactions that you may not want everyone to see in case they happen to access your mobile phone or transactions history. The Paytm UPI app lets you hide these. You can anytime unhide the same from 'View Hidden Payments,' where they are kept, accessible only to the main user through his/her authentication.

This way the payments are no more visible in the 'Balance and History' section. While you gain greater control over the way you use the app, your privacy is also not compromised. The records are also kept intact to be viewed later on.

Creation of Personalized UPI IDs

Mobile numbers are one of the most significant mediums to misuse someone's personal details, which is why we do not prefer sharing the mobile numbers with everyone. Paytm allows you to create personalized UPI IDs, where you can have handles like name@ptaxis or name@ptyes. Hence you are not required to share your mobile numbers.

This feature enhances safety and privacy to the users. It is also a unique and more convenient way to ensuring safe transactions.

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Checking Your Bank Balance

To use UPI apps like Paytm, we need to link our bank account with the app to be able to carry out necessary transactions. Now, with Paytm, one can not just check this balance of a UPI-linked bank account, but also know the total balance across all your bank accounts linked through UPI handles that you created on the platform.

This new feature introduction by Paytm is making fund monitoring simpler and available at fingertips. You do not need to switch between several banking apps to know the balance.

Downloadable UPI Statements

While making a number of daily UPI transactions, there are times when we need the transaction statements in Excel or PDF formats. This has been made possible by Paytm. You can now get the UPI transaction statements in these formats as and when required, thereby fulfilling your personal and business needs. This is especially beneficial when you require clear reports of certain transactions for accounting and tax purposes.

This another new feature innovation by this UPI application is making it simpler for users to maintain financial records, manage budgets, track expenses and carry out appropriate accounting.

QR on the Home Screen to Receive Money

Last on the list is the QR Widget that is also in use largely. You might have noticed that after taking a ride via applications like Uber or Ola, the driver shows you a QR code on their mobile phones to receive money from you. Paytm introduced the 'Receive Money' QR widget through which cab drivers, freelancers and delivery agents can get quick, easy payments without opening the app.

Final Thoughts

These innovations are now commonly available on various UPI apps, proving the ease and convenience they bring to the users. They've become a regular part of lives as UPI payments are on the rise.

Paytm has truly made UPI smarter and simpler, more convenient for both parties whether it be the payer or the receiver. While the above-mentioned are five major transformative innovations of Paytm, there are more in the list. Paytm is second to none when it comes to making India a secure digital economy.

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