Paytm Share Price Dips 1.33%; Launches Automatic Top-Up for UPI Lite

One 97 Communications Limited (OCL), the parent company of Paytm, has launched a new feature for its Paytm UPI Lite, automatic top-up. Following this announcement, Paytm share price was in focus.

On November 25, 2024, Paytm share price opened at ₹913.80, up from its previous close of ₹900.95. However, at 11:04 AM, the share price of Paytm was trading at ₹889.00, down by 1.33%.

Automatic Top-Up Feature

This feature aims to streamline small-value transactions, offering a more seamless payment experience for users. The automatic top-up ensures that users’ UPI Lite balance is replenished when it falls below a set limit, so they can continue making payments without any interruptions. This is particularly useful for recurring daily payments, as users can make transactions of up to ₹500 each, with a daily cap of ₹2,000, without the need for a PIN.

The Paytm UPI Lite feature is designed to simplify daily transactions such as buying groceries, paying for transportation, or managing subscriptions. It eliminates the need for users to input their PIN for every small-value transaction, making it faster and more efficient. Moreover, since transactions are processed through an on-device wallet, they do not directly impact users’ main bank accounts, which helps in maintaining a clutter-free bank statement. This is especially beneficial for frequent, low-value payments that can quickly accumulate in a regular bank statement.

UPI Statement Download

Additionally, Paytm has introduced a new UPI statement download feature, allowing users to access and download detailed records of all their UPI transactions, including those made via Paytm UPI Lite. This feature supports better expense monitoring and helps users manage their spending more effectively.

Currently, the automatic top-up feature is available for select users with Yes Bank and Axis Bank accounts, and it will soon be rolled out to all users and additional partnered banks. Paytm has collaborated with major banks like State Bank of India (SBI), HDFC Bank, Axis Bank, and Yes Bank to ensure seamless and secure UPI payments.

Through its UPI Lite, RuPay Credit Card linking, auto-pay services, and support for international UPI transactions, Paytm is enhancing its payment platform’s overall experience and expanding its reach globally to countries like the UAE, Singapore, and Sri Lanka.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.