Paytm recently redesigned its mobile app with a sleeker user interface (UI) and numerous new AI-powered capabilities. The redesigned user interface improves responsiveness and makes it easier to use the app. A Monthly Spend Summary categorises spending, a search option allows you to find payments by name, amount, or notes, and you can hide payments from history. In addition, users can receive digital gold as a reward for transactions.
This updated app represents a significant advance in simplicity, transparency, and consumer trust, with an emphasis on making payments seamless and straightforward. Using AI as its core, the app improves how Indian users engage with their finances, allowing them to easily manage spending and balances while obtaining tailored insights.
Users may now manage their finances more efficiently thanks to the new “Total Balance” dashboard, which displays all of the linked bank accounts in one location, easing the process of monitoring funds. This feature offers an aggregate view of the user’s total funds across UPI-connected accounts, eliminating the need for a manual calculation. Furthermore, the Monthly Spend breakdown uses AI to divide spending into various categories such as shopping, bills, travel, and utilities, allowing for easier budgeting via a clear and automated breakdown of expenditures.
Hide Payments is a unique tool that gives consumers more control and privacy by allowing them to hide transactions from their payment history. UPI Statements, which may be downloaded in Excel or PDF format, contain detailed information about each payment, assisting users and chartered accountants in assessing expenses and simplifying tax reporting. The Payment Location features pinpoint where each transaction was conducted, allowing users to recollect the purpose of previous payments. A sophisticated Payment Search option also enables a quick search of prior transactions based on numerous criteria such as name, amount, notes, or payment category, such as ‘grocery’ or ‘entertainment’. Finally, Paytm Playback is an exciting function that converts recent spending into personalised AI-generated rap lyrics, making money management fun and interesting.
Magic Paste makes it easier to enter bank information by allowing users to copy payment information from WhatsApp and have the application automatically fill in account and IFSC details. The application has a Favourite Contacts feature that allows you to quickly find regularly paid contacts, as well as Payment Reminders to ensure that fees and salary are paid on time. A unique Built-in Calculator allows users to quickly calculate the entire amount during transactions, which is especially beneficial for supermarket or pharmacy payments. The accept Money widget allows professionals to accept payments straight from their mobile homescreen using a Paytm UPI QR code, without having to launch the app. Additionally, the Scan & Pay shortcut widget provides easy access to the Paytm scanner from the homescreen for quick payments.
Furthermore, personalised UPI IDs, such as name@ptyes or name@ptaxis, allow for the creation of easily memorable payment handles while protecting the customer’s phone number from being disclosed via their UPI ID.
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The new scanner improves the payment process by providing a seamless, visually appealing experience with an innovative layout and appealing animations. When a QR code is scanned, the device puts on a stunning visual show, activating lights and generating an effect that seamlessly transitions into the payment interface. It can read QR codes from numerous angles and has features like Automatic Flashlight Activation for low-light conditions and pinch-to-zoom distance scanning, all with the goal of making payments quicker, more intuitive, and more immersive.
PayTm has launched ‘Gold Coins’, an innovative initiative that improves regular transactions by allowing customers to earn ‘Gold Coins’ for every payment, which can subsequently be redeemed for digital gold. The whole thing demonstrates the company’s dedication to offering high-quality experiences for its committed customers while also encouraging smart digital savings for individuals interested in digital gold as a simple investment.
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The PayTm app also allows Non-Resident Indians (NRIs) from 12 countries to make seamless UPI payments by logging in using international mobile numbers and linking their NRE or NRO accounts. NRIs may effortlessly transfer money between these accounts, send funds to UPI users in India, and make online or in-store payments using QR codes when in India, all in INR, avoiding high forex charges and transfer delays.
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