Paytm Payments Bank Limited (PPBL), has introduced cashback of up to Rs 25 on money transfers through Paytm UPI. For five money transfers of any amount through Paytm UPI, the user will receive Rs 5 cashback for each transaction and can avail just once per user. The cashback will be credited within 24 hours to the bank account linked to Paytm UPI, PPBL said in a statement.

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Through Paytm UPI, users can do direct bank-to-bank transfers in a completely secure manner in a few, simple steps. The company had also recently said that users can receive and send money instantly to any mobile number with a registered UPI ID across platforms using the Paytm app. This further deepens Unified Payments Interface (UPI) interoperability and roots for the adoption of mobile payments.

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How to avail cashback on Paytm UPI:

Step 1: Open Paytm app’s home screen, go to ‘UPI Money Transfer’

Step 2: Send minimum Re 1 to any mobile number or UPI ID using Paytm UPI

Step 3: Locate the scratch card in ‘Cashback & Offers’ section to avail the offer

Paytm Payments Bank remained the largest UPI beneficiary bank for 19 months in a row with over 1,726.94 million transactions in December 2022, ahead of all major banks in the country. With 386.50 million registered transactions, the bank is one of the top 10 remitter banks for UPI transactions according to NPCI’s latest report.

PPBL is one of the leading issuer and acquirer banks for National Electronics Toll Collection (NETC) FASTag.

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(Edited by : Anshul)