India’s Paytm has rolled out a revamped version of its payments app, introducing a streamlined interface and several new AI features aimed at simplifying digital transactions for users.
The update integrates AI across the application, offering tools for expense tracking, balance management, and personalised insights.
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The latest version allows users to view their total balances across all Unified Payments Interface (UPI)-connected bank accounts in one place and provides a monthly spend summary with automatic categorisation of expenses such as shopping, bills, travel, and utilities.
A new privacy feature, Hide Payments, enables users to hide specific payments from their transaction history.
Users can also download detailed UPI Statements in excel or portable document format (PDF) formats, which may help streamline financial analysis and filing of taxes.
The app now includes Payment Location, for tracking payments, thereby allowing customers to see exactly where each transaction took place.
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By GlobalDataAdditionally, the Payment Search functionality lets users quickly retrieve past payments by name, notes, amount, or type of transaction.
Among other additions, “Paytm Playback” offers a unique approach by generating personalised AI-generated rap songs based on recent spending activity.
Its “Magic Paste” feature eliminates the hassle of manually entering bank details. Users can simply copy a WhatsApp message containing payment information, paste it into the app, and it will instantly detect and autofill the account number and IFSC code for users.
A built-in calculator within the payment process helps users total amounts before payment, which is useful for transactions such as grocery shopping.
The Scan & Pay shortcut widget lets users access the Paytm scanner instantly from their phone’s home screen, enabling ultra-fast payments.
The redesigned scanner now detects QR codes from any angle, automatically activates a flashlight in low-light conditions, and supports pinch-to-zoom.
The platform introduces personalised UPI IDs that omit phone numbers for added privacy.
Merchants and individuals can earn “Gold Coins” with every payment, redeemable as digital gold, across offline and online transactions.
The company noted that non-resident Indians (NRIs) from 12 nations can now register using international mobile numbers and link non-resident external/ordinary (NRE/NRO) accounts for UPI-based payments in India.
This enables them to transfer funds between connected accounts and carry out instant Indian Rupee (INR) payments during visits without incurring currency conversion fees or delays.
Paytm CEO and founder Vijay Shekhar Sharma said: “We have introduced the all-new Paytm app with a cleaner design, new AI-led experience, and innovations that make it the best payments app. With this, we are bringing intelligence to payments, where the app understands your spending, organises it automatically, and helps you manage it better.
“We are also giving Gold Coins on every payment, redeemable into real digital gold, so that every Paytm payment becomes a golden one. Built in India for every Indian, this is our next step in making payments truly smarter.”
