Hello Everyone. Today In this article I am going to show you How To Send or Receive Money Using BHIM UPI on Paytm 2017. The most popular mobile payments platform Paytm merchants declared on Tuesday, Nov 7, that they now support BHIM UPI for its payments. That means users can create their own Paytm BHIM UPI ID on the app pay through this service. This update will provide Paytm users to set up a UPI address or link any of their savings bank accounts with this Paytm BHIM UPI and start sending and receiving payments.

How To Send or Receive Money Using BHIM UPI on Paytm 2017

How To Send or Receive Money Using BHIM UPI on Paytm 2017
How To Send or Receive Money Using BHIM UPI on Paytm 2017

What is BHIM UPI?

BHIM UPI [Unified Payment Interface] is a government-authorized mobile payment system to make instant money transfers in India. This intends to simplify the process of sending and accepting money directly between two bank accounts.

To transfer money, someone, all you need is the receiver’s UPI address, which can be as simple as name@bank – you don’t need to worry about the receiver’s name, Bank name, account number or IFS code.

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Benefits of Using BHIM UPI on Paytm:

1. No waiting time,
2. Smartphone-friendly.
3. Seamless and immediate money transfers directly between two bank accounts.
4. No need to add bank details or IFSC code to receive money as well.
5. No limitation on receiving Payments.

How to Create Bhim UPI ID?

UPI also called Virtual Payment Address or VPA. You can create your own Paytm BHIM UPI ID, which will be your phonenumber@paytm by default. You can link any of their Savings bank accounts with this unique Paytm BHIM UPI ID. That’s it after that now can start sending & accepting money. Paytm BHIM UPI IDs are being accepted across all banks and BHIM UPI apps.

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How To Send or Receive Money Using BHIM UPI on Paytm 2017

How To Send or Receive Money Using BHIM UPI on Paytm 2017
How To Send or Receive Money Using BHIM UPI on Paytm 2017

The company makes very easy while using UPI in the Paytm app. Follow the steps given below.

Step 1. Open Your Paytm app. >> Tap on the BHIM UPI icon on the app’s Homepage.

Step 2. Next, select your bank account. The app will then ask you to verify your mobile number linked to the respective bank account.

Step 3. After verifying, you can then verify or set up a UPI PIN if it doesn’t exist already.

Paytm lets you setup up to 2 UPI addresses at any given point in time.

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Limit of Sending Money Through BHIM UPI on Paytm?

As per the NPCI guidelines, users can send up to Rs. 1 lakh/ day using BHIM UPI; on the other hand, there’s no limitation on receiving Payments.

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Who Can Avail This Features?

Currently, Paytm BHIM UP feature is only available in beta version on Paytm Android app. The Paytm Marchen has declared users of iOS will soon be available to use this app. So, iOS users have to wait to get the app from Itunes.

Can I Edit My Paytm BHIM UPI ID?

You are free to edit anytime your Paytm BHIM UPI ID. To do this just click on your auto-generated Paytm BHIM UPI ID to edit your custom ID.

How To Send or Receive Money Using BHIM UPI on Paytm 2017

Where can I view my Paytm BHIM UPI Transactions?

All Paytm BHIM UPI transactions are available in the Paytm Passbook.

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Can I Pay From My Paytm Wallet Using my UPI ID?

Both Wallet and UPI are two different funding sources. You can either pay using Paytm Wallet or use Paytm BHIM UPI ID.

What is a BHIM UPI PIN?

BHIM UPI PIN is a 4 or 6 digit PIN that can be used for authenticating your UPI transactions.

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Paytm BHIM UPI PIN & Login Password [Confusion !!!]

Your BHIM UPI ID on Paytm PIN is different from your login password. You will have to type the PIN that you have set to complete the transaction on all UPI-enabled banks and apps.

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My Last Words:

Hope you like this article about How To Send or Receive Money Using BHIM UPI on Paytm 2017. Let you try and tell me through your comment what is your experience. If you have any issues while following above methods, then do not forget to tell me through your comment below in comment section. Any of your opinions will encourage me for correction and make this article into a better quality. Thanks for being, stay tuned for my next to my next article.

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