Paytm wallet balance can be used for all UPI payments

Mumbai: Users of Paytm Wallet can now use their balances to make payments on all UPI QRs and online merchants accepting UPI payments without linking their bank account.

This follows the National Payments Corporation of India announcing guidelines for wallet interoperability on March 24. Paytm Payments Bank, which operates the digital wallet, will earn an interchange of 1.1% when wallet customers make payment on merchants acquired by other payment aggregators or banks.
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If the user choses to add more than Rs 2000 using UPI, Paytm Payments Bank will pay 15 basis points as charges and in turn will also earn 15 bps when any other wallets use the bank to add more than more than Rs 2000 using UPI.