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Paytm now launch "Wallet UPI" | Full-KYC Paytm wallets can now make payments across all UPI QR codes

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Finance Ninja
abhishek012

Paytm now launch "Wallet UPI" | Full-KYC Paytm wallets can now make payments across all UPI QR codes:

Move comes after NPCI announces KYC wallet interoperability

Following National Payments Corporation of India’s (NPCI) circular asking all KYC wallets (prepaid instruments) to be interoperable on all UPI merchants in offline stores and online apps and websites, Paytm Payments Bank on Monday said its full KYC customers now will be able to able to make payments on every UPI QR code and online merchant where UPI payments are accepted.

In an exchange notification, Paytm said, its associate company Paytm Payments Bank will earn 1.1 per cent interchange revenue when Paytm Wallet customers (i.e., the KYC wallets issued by Paytm Payments Bank) make payment on merchants acquired by other payment aggregators or banks.

“The bank will pay 15 bps of charges for adding more than Rs 2,000 using UPI, and in turn will also earn 15 bps when any other wallets use the bank to add more than Rs 2,000 using UPI”, it said.

In addition to this, One97 Communication will also have a beneficial impact because of this move, in the form of meaningfully lower interchange fees paid to the bank for Paytm wallet since this is now based on the lower standardized interchange.

Paytm Payments Bank is the largest issuer of KYC wallets (prepaid instruments) with over 100 million users.

“We welcome NPCI’s interoperability guidelines that allow Paytm wallet to be used in every nook and corner of the country. This is in line with our mission to bring mobile payments to every Indian everywhere”, said a Paytm spokesperson.

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Community Angel Community Angel
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Now find ways to misuse it RIP paytm upi

Wingman Wingman
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Means what
Helpful Helpful
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What's new in this ?? Or Am i missing something ??


Generous Generous
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Off topic - phone camera is dead so can't do paytm video kyc for full kyc

Will there be any issue if logged in on another device which already has other paytm account linked

Benevolent Benevolent
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Set up your account under the Work Profile (Island app). Since A10+ apps can no longer easily access unique device identifiers. I am no longer using App Cloner to randomize device parameters. 

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Finance Mentor Finance Mentor
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Huh...new roads, new tricks... is it already live?

Cool Cool
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Mostly Rupay card users get benefits

Helpful Helpful
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i am full kyc user. where to check for this wallet upi in app?

Benevolent Benevolent
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I completed full KYC last year. And while the verification is on the lines of opening a Paytm Payments Bank account it wasn't actually activated. I did it myself a month or two later cuz why not? 

P.S. Afterwards Paytm sends a letter to the address mentioned in Aadhaar containing a QR code which has to be scanned in the concerned Paytm app. So no way out I guess. @avgn Which device by the way? 

Generous Generous
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OP6

I think that QR code scan can be done from gallery if not wrong

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Benevolent Benevolent
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thread is hijacked😄

Finance Mentor Finance Mentor
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@guest_999 I'm one without any tied strings like Paytm bank account, demat, whatever else but only a full kyc wallet... Maybe it was around September 22 I did full kyc, asked their online agent not to open other stuff and they double confirmed that only wallet kyc for you...

Critic Critic
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Were you an existing user of paytm wallet(min kyc) before that?
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Deal Newbie Deal Newbie
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Paytm is very strict when it comes to apps. Even if I have TeamViewer installed it won't let me open paytm

Also this waller upi is basically UPI lite. 


Finance Ninja Finance Ninja
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UPI Lite is different thing.

Wallet UPI is directly link your paytm wallet balance on UPI.
Generous Generous
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Paytm walletbto bank.. pahle se free tha.. ab scan and pay hoga wallet se.. yahi new hai na?

Deal Captain Deal Captain
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Vu @abhishek012 bro

I want to know how it helps as of now?

We can send paytm wallet money to bank without charges right?

Any added benifit with this, please let me know.

Finance Ninja Finance Ninja
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Paytm wallet to bank is already free.
Benevolent Benevolent
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how to activate wallet upi? 

Deal Cadet Deal Cadet
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@abhishek012
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