Paytm UPI introduces auto-debit for hassle-free trading on equity broking apps
With this new feature, Paytm UPI users can set up automatic payment deductions directly from their bank accounts for trades.
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Paytm (One 97 Communications Limited) one of India’s leading payments and financial services distribution company and the pioneer of QR codes, Soundbox, and mobile payments, has today announced that Paytm UPI now supports UPI Trading Blocks (also known as Single Block Multiple Debits), a feature designed to simplify the trading experience for stock investors.
With this new feature, Paytm UPI users can set up automatic payment deductions directly from their bank accounts for trades, eliminating the need to transfer large sums to their brokerage accounts in advance. This allows them to continue earning interest on their funds until the actual trade is executed, as the money remains in their bank account.
Paytm's UPI Trading Blocks, built on NPCI’s infrastructure and leveraging UPI, deducts the required amount only when a trade is made. This process occurs automatically without requiring a UPI PIN, ensuring transparency while keeping funds securely in the investor’s bank account. Users can manage and track their funds conveniently through the Paytm app once the trade is completed.
Currently, this feature is available for UPI handles of Axis Bank (@ptaxis) and Yes Bank (@ptyes). It will soon be extended to UPI handles of the State Bank of India (@ptsbi) and HDFC Bank (@pthdfc), ensuring secure and seamless UPI payments.
A Paytm spokesperson said, “We are thrilled to introduce UPI Trading Blocks on Paytm UPI, bringing greater convenience to stock traders. This service simplifies fund management by enabling seamless, automatic payment deductions directly from bank accounts, eliminating the need to transfer large sums to brokerage platforms. With fast and reliable payments via Paytm UPI, we aim to continue innovating and enhancing the trading experience for our users.”
Recently, the company launched the 'Receive Money QR Widget' for both Android and iOS users, allowing influencers, shopkeepers, freelancers, and small businesses to accept payments instantly from their smartphone home screens without opening the app. Additionally, Paytm introduced a coin-drop sound feature for real-time payment notifications, offering instant confirmation and assurance for received payments.
Paytm UPI also enhances everyday transactions with features such as UPI Lite for small-value payments, RuPay Credit Card linking on UPI, and an auto-pay service, all designed to improve user convenience. As part of its global expansion, Paytm now supports international UPI payments in locations where UPI is accepted, including the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.
