E-commerce Paytm introduces payments through “BHIM UPI”

New Delhi: The Indian electronic payment and e-commerce giant Paytm on Tuesday has announced to introduce payments using BHIM UPI (unified payments interface) on its platform.

The company says this new payment system could help its users create their own Paytm BHIM UPI ID’ on the app, which will be issued by the Paytm payments bank.

In a statement, the company said: “Paytm users can link any of their savings bank accounts with this unique Paytm BHIM UPI id and start sending and accepting money”.

Adding that, “As per the National Payments Corporation of India (NPCI) guidelines, users can send up to Rs 1 lakh a day using BHIM UPI; while there’s no receiving limit”.

Now the company said it has also planned to train its five million users to create their Paytm BHIM UPI ID.