Paytm has unveiled a new feature, UPI Trading Blocks, which is set to transform the broking experience for stock traders. The feature, available through Paytm UPI, allows users to set up automatic payment deductions for trades directly from their bank accounts, eliminating the need to transfer large sums of money into trading accounts on brokerage apps. This innovation enables traders to keep their funds in their bank accounts and continue earning interest until they execute their trades.
The UPI Trading Blocks, based on the infrastructure of the National Payments Corporation of India (NPCI) and leveraging UPI, ensures that payments are automatically deducted only when a trade is made. The process is seamless and does not require a UPI PIN, simplifying the transaction process for users. This provides full transparency, allowing traders to manage their funds with ease while ensuring that their capital remains in their bank accounts until it’s needed for a trade.
Once a trade is completed, users can track and manage their funds directly through the Paytm app. Currently, UPI Trading Blocks are supported for UPI handles from Axis Bank (@ptaxis) and Yes Bank (@ptyes), with plans to expand the feature to include UPI handles from State Bank of India (@ptsbi) and HDFC Bank (@pthdfc) in the near future. This move aims to ensure smooth and secure UPI payments for all users, further enhancing the convenience and accessibility of stock trading for Paytm customers.
