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How to Add Money to Paytm Using UPI

Launched in 2010, Paytm is a mobile payment platform which helps users recharge mobiles and DTH connections, pay utility bills, shop online and offline, and even transfer funds. And owing to the ban on Rs. 500 and Rs. 1000 currency notes by the government, Paytm has seen a massive surge in usage. Earlier you could add money to your Paytm wallet only through net banking and credit/debit cards, but now you can add money to your Paytm account using UPI as well.
Unified Payment Interface, in turn, is also a mobile based payment system, which allows users to transfer money or make a financial transaction without using the bank/card details of the receiver and the payee whatsoever. You only need your Virtual Payment Address (VPA) for using UPI for various transactions.

What is Virtual Payment Address (VPA)

Virtual Payment Address is issued to the user when he/she registers for and uses UPI. VPA is important and required for all financial transactions between two platforms like Paytm and UPI.
VPA is quite similar to an email id like jay*****@icicibank or 986*****22@PNB and is used in place of the bank account details and can be changed anytime.
Hence, VPA has made transferring money within different accounts and organizations convenient while keeping safe your card/bank details.

Add money to Paytm using UPI

Adding money from UPI to Paytm is incredibly easy and quick. Follow the steps below for a step-by-step guide:
  1. Log in to the Paytm account on the website (the add money option is unavailable through Paytm android app as of now)
  2. Click on Paytm Wallet in the top right corner of the landing page
  3. Enter the desired amount in the respective field and click on Add Money
  4. You will be directed to the Select payment method page
  5. Select UPI from the panel of payment options
  6. Enter the Virtual Payment Address (VPA)
  7. Click on Pay now
  8. After clicking on Pay now, you will receive a Collect Request on your UPI ID
  9. Open UPI app on your smartphone and enter the four-digit UPI pin
  10. You will find a collect request, click on Accept to complete the transaction
  11. Money will be added to your Paytm wallet
However, if you click on reject on your UPI app the transaction will be declined, and you will get a notification on your Paytm account.
Some important points which you need to keep in mind while using UPI to add money to your Paytm account include:
  • As per the guidelines by RBI, you can add up to Rs. 20,000 to the Paytm account in one transaction
  • The mobile number registered with the bank must be the same on which you use Paytm and UPI app for financial transactions
  • UPI is available across the web and to the iOS users, but according to Paytm, UPI will be available for Android users very soon
UPI has reduced the hassles of using the bank and card details for every transaction, whether it is for bill payments or accepting and making payments. You can transfer funds without revealing your personal details to anyone and everyone. And with the option to add money to Paytm using UPI, daily activities have become all the more convenient.
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