Fintech major Paytm has garnered six million customers within three months of the launch of UPI Lite on its payments app. Additionally, the company is working on building a co-branded RuPay credit card product with an issuing partner.
In an online session held at its Noida headquarters, Paytm Payments Bank chief executive Surinder Chawla spoke about the adoption of UPI Lite as a payment mode among Paytm’s 90 million monthly transacting users. Abhishek Madan, head of UPI at Paytm, said once the auto addition feature on UPI Lite goes live he expects more people to come on board. “It will operate as a loop, one loads money and uses it and then it automatically loads money again,” he said.
Paytm has seen interest among its users on the new payment features like UPI Lite and RuPay credit cards. The fintech major is also building fresh security features to keep its customers safe from fraudsters.