Paytm integrates BHIM UPI on its platform

Paytm has integrated BHIM UPI payments system on its platform. For the uninitiated, BHIM UPI is a mobile payment service, that lets you make instant money transfers directly between two bank accounts.

You can now create you own BHIM UPI ID on the Paytm app, which will be your mobile-number@paytem by default. You can then link any of your savings bank account with this unique Paytm BHIM UPI ID, and start sending and accepting money. According to Paytm, Paytm BHIM UPI IDs are being accepted at all banks and BHIM UPI apps.

To create Paytm BHIM UPI ID, go to BHIM UPI section on the app's home screen. Select your bank, and then the bank will verify your number, and later set your MPIN. You will also be able to link multiple bank accounts, but you'll have to set a primary account. Once done, you can start making seamless and instant money transfers directly between two bank accounts with no waiting time to add beneficiary, and without the need to furnish your bank details or IFSC code to receive money.

Paytm merchants will also be able to link their multiple existing bank accounts with Paytm BHIM UPI ID, and accept in which account they wish. As per the National Payments Corporation of India (NPCI) guidelines, users can send up to Rs. 1 lakh a day using BHIM UPI; while there’s no receiving limit.

Paytm BHIM UPI is currently available in beta within the Paytm Android app and will soon be available on iOS as well.  

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