One of India’s most popular mobile applications Paytm has just rolled out a new update. Under the latest changes being made, Paytm has launched a new feature where it will enable users to send money without even opening the app. This new update is a major change as it will make money sharing and easier process on the app and it is meant for that. Paytm will essentially enable users to share money with his/her contacts directly from the phonebook app. They will now have no reason to open the Paytm app every time they wish to make a transaction unless they prefer to do so.
It should be noted that the latest feature on Paytm is currently only available for Android smartphones only. This means iOS users cannot avail the service right now, but may expect it to launch on their devices soon. Paytm says the new feature is designed to make it easier for users to send money to friends and family. The app will put Paytm in direct competition with WhatsApp, which is currently the biggest messaging app in India with over 200 million monthly active users. Interestingly the report comes as WhatsApp is working on integrating UPI payments service within the app. Paytm claims to have over 200 million users in India.
Here’s how to use the new feature to make payments via Paytm: Just open the contacts list on your smartphone, select a contact, tap on ‘Send Money’ and enter the desired amount to instantly transfer money. A user will need to update their Paytm app as well in order to enable the feature. Also, you will need to give Paytm access to your contacts book in order for this feature to work.
While the new feature will make payments from Paytm directly integrated into contacts, reports indicate the company has plans to go beyond the payments space. A new report by PTI had said Paytm is planning to introduce a messaging service, which will be rolled out by the end of the month.