UPI(United payments interface) is a platform provided by government of India to do cashless transaction directly from one account to another. Now UPI in Paytm yes users need to create a virtual id to do payments directly from one account to another bank account.
Even you can use paytm payments bank to do the upi transaction.
Within seconds the money is transferred. Sending money using the UPI app is said to be as easy as sending a message, since users don’t need to remember the beneficiary’s account details or their own net banking ID and password. It eliminates the need to fill IFSC code, account details etc, this way doing away with several steps that are typically involved in bank funds transfer.
However Paytm is a mobile wallet in which you have to add your money and then you can use it, now paytm has started supporting UPI to add money in its wallet directly without using net banking\credit\debit card details just put your virtual id and transfer your money.
Now very first UPI transaction will give you Rs 50 Cashback as well.
Note: Paytm changes its interface regularly from time to time so you might not able to find the options shown in video at the same place, and also paytm has now started paytm payments bank service.
In my video I am going to show you how to add money in paytm wallet using upi and will talk about the new safety feature which paytm has introduced recently. Please watch the complete video for proper understanding.