Paytm (One 97 Communications Limited) has unveiled a new feature called UPI Trading Blocks, which aims to streamline the stock trading experience by enabling automatic payment deductions directly from users’ bank accounts for trades on equity broking applications.
As of 11.40 am today, the shares of One 97 Communications Limited were trading at ₹706, marking a decrease of ₹20.45 or 2.82 percent on the NSE.
The UPI Trading Blocks feature, also known as Single Block Multiple Debits, eliminates the hassle of transferring large sums to trading accounts in advance. With this feature, funds can remain in users’ bank accounts and continue to earn interest until a trade is executed, at which point the exact amount is automatically deducted without the need for a UPI PIN.
According to a Paytm spokesperson, “We are excited to introduce UPI Trading Blocks on Paytm UPI, offering enhanced convenience to stock traders. This service simplifies fund management by enabling seamless, automatic payment deductions directly from bank accounts, removing the necessity to transfer large sums to broker or brokerage apps.”
The service is currently accessible for Paytm UPI handles of Axis Bank (@ptaxis) and Yes Bank (@ptyes), with plans to extend support to State Bank of India (@ptsbi) and HDFC Bank (@pthdfc) UPI handles in the near future.
To activate UPI Trading Blocks, users must log into their broking platform account, navigate to the ‘Add Funds’ section, select the ‘Single Block Multiple Debits’ option, choose the Paytm app from available payment options, and enter their UPI PIN to complete the setup.
This launch follows Paytm’s recent introduction of features like the ‘Receive Money QR Widget’ for smartphone home screens and a distinct coin-drop sound for real-time payment notifications. The company has also expanded its reach internationally, now facilitating UPI payments in the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.
Paytm, known for pioneering mobile QR payments in India, remains committed to developing technologies aimed at including half a billion Indians in the mainstream economy.
