Paytm Introduces UPI Lite on iOS, Support for RuPay Credit Cards on UPI
Paytm on Tuesday announced that it was introducing support for UPI Lite on iOS. During a live event, Paytm CEO and Founder Vijay Shekhar Sharma announced that the company’s associate Paytm Payments Bank was also adding support for RuPay credit cards on the Unified Payments Interface (UPI), along with other features that will allow users to split bills, pin a contact for quick access, or set up an alternate UPI ID to hide their mobile number. The Paytm Super App has seen around 60 lakh users sign up to use UPI Lite so far, according to the company.
As per details shared by Paytm, the faster UPI Lite system that is claimed to function even during peak hours, is now available on iOS. The company also said that it has 60 lakh UPI Lite users, while a total of 13 banks support UPI Lite on Paytm. Meanwhile, 70 lakh small business merchants use Paytm Soundbox, a speaker that announces incoming payments.
Paytm also announced that users with RuPay credit cards can now register to make OTP-less UPI payments on the company’s application. They will also be able take advantage of reward points, just like other users who have signed up with other cards.
In July 2022, National Payments Corporation of India (NPCI) Managing Director and CEO Dilip Asbe had announced that around 250 million users — a fifth of the population — used UPI, and that RuPay cards would be linked to the UPI platform within a few months.
Other features announced by the company include the ability to create groups with friends on the Paytm app to use the Split Bill feature. Users can also pin contacts to interact with on a regular basis for easy access, as per details shared by Paytm.
Payments on Paytm can now be tagged with specific labels, the firm said on Tuesday. These can be easily accessed to see all payments that are tagged with a particular label, making it easily to keep track of specific payments, according to the company.
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