Paytm has introduced the ability to create custom UPI IDs in a bid to strengthen privacy and security and boost the onboarding of new UPI users in the country. This new feature enables Paytm users to personalise their UPI handles, eradicating the need to create UPI IDs by using mobile numbers. Ever since NPCI lifted the restriction to onboard new UPI users on the Paytm app last year, the tech company has been introducing new features to bait more users. Features rolled out by Paytm recently include the ability to hide and unhide transactions, check monthly summaries to track spending, download UPI statements in PDF and Excel formats for easy tracking and a unified bank balance view across all linked accounts in one dashboard.
Personalisation of UPI IDs on the Paytm app is currently available for Yes Bank and Axis Bank users only. Paytm says that more banking partners are expected to support this feature soon. In order to customise your UPI ID on Paytm, follow the steps mentioned below:
Open the Paytm app and tap on the Profile icon
Head to UPI Settings and click on ‘Manage UPI ID’
Select a custom UPI ID ( for instance name@ptyes) and click on Activate
In its latest blog, a Paytm spokesperson said, “We have introduced personalized UPI IDs to offer more choice and privacy in payments. We heard the feedback from our customers who wanted to keep their mobile numbers private, and built this solution to address that need.” This feature has been available on other applications like Google Pay and PhonePe, and it has finally been introduced by Paytm as well. There is no clarity on when other banks apart from Yes Bank and Axis Bank will get this custom UPI ID creation support.
Paytm recently also announced that it is expanding its UPI services internationally. The company says that Indian travellers can now use Paytm’s UPI services in places like UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.
In a bid to reinstate itself as a pioneer in the UPI space, Paytm has introduced a slew of other features in the past few months. It brought the ability to categorise spending and allow users to look at monthly summaries. This will enable users to manage and track their finances. The company has also introduced the ability to hide or unhide transactions for added privacy. The ‘Receive Money’ widget has been brought to the home screen allowing users to get real-time payment alerts and there’s also the addition of the ‘Scan & Pay’ widget for quick access to QR payments.
Other recently introduced features include the option of auto top-up for Paytm UPI Lite users enabling smooth low-value payments of up to Rs. 5,000. Paytm also allows users to download UPI statements in PDF and Excel formats. There is also a new dashboard that enables a unified bank balance view across all linked accounts.
