Paytm Update: There is a major update for Paytm users. Paytm, the digital payment platform, has rolled out two cool features for its users, making money transactions smoother and safer than ever. Now, users can make UPI payments and withdraw cash from ATMs without needing a card, all thanks to Face ID or fingerprint recognition. This update aligns with the Reserve Bank of India’s new rules that took effect on April 1st, which mandate two-factor authentication (2FA) for all digital transactions.
Make payments using Face ID and fingerprint
With this new Paytm feature, you won’t have to enter your UPI PIN every single time. Instead, you can confirm payments using your phone’s Face ID or fingerprint. This works on both Android and iPhone devices. Paytm reassured users in a press release that their biometric data is completely safe.
Your biometric data isn’t stored by either Paytm or the bank; it stays secure on your device. However, keep in mind that you can only make payments of up to Rs 5,000 at a time with this feature. If you prefer, you can still use your UPI PIN as you did before.
How to activate the biometric feature on your phone?
- Enabling this feature is super simple.
- Just open the Paytm app and tap on the Profile icon.
- Then head to Settings.
- You’ll see the option for ‘Pay with Fingerprint’ or ‘Pay with Face ID’; pick one of those.
- Next, choose your bank account and follow the on-screen instructions.
- Once that’s done, you’ll be all set to make payments using biometrics easily.
Withdraw cash without an ATM card
On top of that, Paytm has introduced cardless ATM withdrawals. This means you can now withdraw cash from an ATM without needing a debit card. Users can simply scan a QR code shown on the ATM screen and use Face ID, fingerprint, or UPI PIN to get their cash.
- Just go to the ATM, select the ‘UPI Cash Withdrawal’ option, and enter the amount.
- Then scan the QR code displayed on the screen with the Paytm app.
- After that, you’ll receive your cash as soon as you verify with Face ID, fingerprint, or UPI PIN.
- With this feature, you can withdraw up to Rs 10,000 in cash at once.
However, this limit may vary depending on the bank and UPI regulations. Transaction confirmation is immediately available on the app.
