Paytm introduces UPI Trading Blocks with auto payment from bank accounts

Paytm UPI users can now set up automatic payment deductions directly from their bank account for trades, without having to transfer large sums to their trading accounts on brokerage apps

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Paytm has announced that Paytm UPI now supports UPI Trading Blocks (also known as Single Block Multiple Debits), a feature that enables seamless automatic payment deductions directly from bank accounts for equity trading. This new functionality allows investors to block funds in their accounts without needing to transfer large sums to broker apps in advance, ensuring a secure and efficient trading experience.

 

Built on NPCI’s UPI infrastructure, the feature ensures that funds remain in users' bank accounts and continue earning interest until a trade is executed. The exact amount required is deducted automatically after execution, reducing the hassle of manual fund transfers and enhancing transparency in stock trading.

 

What are UPI trading blocks?

 

Also known as Single Block Multiple Debits, UPI Trading Blocks allow investors to authorise fund blocking directly from their bank accounts while placing trade requests on brokerage apps. The feature eliminates the need for repeated UPI PIN entries and offers greater flexibility by keeping funds accessible until required. 

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Key benefits of UPI trading blocks

 

No need for large fund transfers: Investors can block funds directly from their bank accounts without moving them to broker apps.

 

Automatic payment deduction: The amount is deducted only after the trade is executed, without requiring repeated UPI PIN entries.

 

Continue earning interest: Funds remain in the user’s bank account until needed, ensuring maximum interest earnings.

 

Effortless fund management: Users can track and manage blocked amounts conveniently through the Paytm app.

 

Full transparency: Blocked and debited amounts are easily visible, allowing for seamless fund oversight.

 

How to use UPI trading blocks?

 

Log in to your broking platform account.

 

Navigate to the ‘add funds’ section.

 

Select the single block multiple debits option.

 

Choose Paytm App as the payment option.

 

Enter your UPI PIN to authorise the fund block.

 

The brokerage app will automatically deduct the amount after trade execution without requiring further action.

 

Users can easily track and manage their blocked funds directly on the Paytm app, ensuring complete transparency over their transactions. This functionality allows traders to oversee their trades and payments efficiently in one place.

 

Currently supported for UPI handles of Axis Bank (@ptaxis) and Yes Bank (@ptyes), this feature will soon extend to other UPI handles, including those of State Bank of India (@ptsbi) and HDFC Bank (@pthdfc). It allows investors to keep funds in their bank accounts while providing a seamless and convenient way to manage and pay for trades.

 

“We are thrilled to introduce UPI Trading Blocks on Paytm UPI, bringing greater convenience to stock traders. This service simplifies fund management by enabling seamless, automatic payment deductions directly from bank accounts, eliminating the need to transfer large sums to broker apps. With faster and reliable payments powered by Paytm UPI, we continue to innovate and elevate the trading experience for our users,” said a Paytm spokesperson.

 

In addition to UPI Trading Blocks, Paytm is enhancing its UPI services to improve digital transactions across various use cases

 

Receive money QR widget: Accept payments directly from the smartphone home screen without opening the app.

 

Coin drop sound notification: Instant sound alerts for real-time payment confirmations.

 

UPI Lite for small-value transactions: Faster, PIN-free transactions for small amounts.

 

RuPay Credit Card linking on UPI: Pay using RuPay Credit Cards directly on UPI apps.

 

International UPI Payments: Pay via UPI in UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.