Paytm has rolled out two significant updates, enhancing convenience and security for its users: biometric authentication for UPI payments and cardless ATM withdrawals. Both features aim to simplify day-to-day transactions while complying with regulatory guidelines.
Biometric Authentication for UPI Payments
Users can now make UPI payments without entering a PIN, using Face ID or fingerprint scanning instead. Once enabled, the process is straightforward:
- Enter the payment amount.
- Authenticate using your face or fingerprint.
- Payment completes immediately without typing the UPI PIN.
The feature works with Android fingerprint sensors and iOS Face ID, and biometric data is not stored by Paytm or the bank, ensuring user privacy. As per NPCI guidelines, the transaction limit for biometric UPI payments is ₹5,000, while the traditional UPI PIN method remains available for those who prefer it.
How to Enable:
- Open the Paytm app and tap the profile icon.
- Go to Settings → Pay with Fingerprint / Face ID.
- Select the bank account and follow the on-screen instructions.
Cardless ATM Withdrawals
Paytm now allows users to withdraw cash from ATMs without a physical card, aligning with the RBI’s two-factor authentication rules effective from April 1.
How It Works:
- Ensure your bank account is linked to your Paytm UPI account.
- At the ATM, select UPI Cash Withdrawal and enter the amount.
- Scan the ATM QR code using the Paytm app and verify via UPI PIN.
- The ATM dispenses cash immediately, with a confirmation sent to the app.
The withdrawal limit per transaction is ₹10,000, offering users a secure and card-free way to access cash.
