Paytm announced that Paytm UPI now supports UPI Trading Blocks (also known as Single Block Multiple Debits), a feature designed to simplify broking experience for stock traders. With this, 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. This will enable them to continue to earn interest, until they make their actual trades, since funds remain in their bank account.
Paytm's UPI Trading Blocks, built on NPCI's infrastructure and leveraging UPI, deducts the amount only when a trade is made, and this happens automatically without the need for a UPI PIN. Providing full transparency, it ensures funds remain in the investor's bank account while offering an easy option to manage and conveniently pay for trades.
Once the trade is completed, users can manage and track their funds on the Paytm app. Currently supported for UPI handles of Axis Bank (@ptaxis) and Yes Bank (@ptyes), this feature will soon be available for other UPI handles of State Bank of India (@ptsbi) and HDFC Bank (@pthdfc), ensuring seamless and secure UPI payments.