Indian digital payments giant Paytm has rolled out a comprehensive redesign of its mobile application, introducing a cleaner interface and several intelligent features powered by artificial intelligence. The significant update aims to transform how millions of Indians manage their digital transactions.
Smarter Payment Management with AI
According to Paytm CEO Vijay Shekhar Sharma, the company is bringing intelligence to payments through this update. The enhanced app now automatically analyzes user spending patterns, organizes expenses into categories, and provides better financial management tools. This represents a major step forward in making digital payments truly smarter for the Indian market.
One of the standout features is the Total Balance functionality, which allows users to view their combined balance across all UPI-linked bank accounts without manual calculations. Additionally, the app now provides monthly spend summaries that automatically categorize expenses into shopping, bills, travel, and utilities.
Enhanced Privacy and Convenience Features
Paytm has introduced several privacy-focused features, including the ability to hide specific payments from payment history. Users can now download comprehensive UPI statements in both Excel and PDF formats, complete with detailed descriptions of each transaction.
The new Payment Location feature helps users remember where each transaction occurred, providing context about past payments. Search functionality has been significantly improved, allowing users to find transactions by name, amount, payment notes, or categories like 'grocery' and 'entertainment'.
Streamlined Payment Experience
Several technical improvements make the payment process more efficient. The Magic Paste feature eliminates the need to manually type bank account and IFSC codes by automatically detecting and filling payment information when users paste relevant text.
A built-in calculator now appears within the payment flow, enabling users to quickly calculate amounts during transactions. Personalized UPI IDs allow users to create custom handles like name@paytm or name@ptyes, protecting their mobile numbers while making UPI IDs easier to remember.
The most rewarding addition is the Gold Coins program, where users earn redeemable digital gold with every payment. As Sharma emphasized, this initiative makes every Paytm payment a 'golden' opportunity for users to accumulate digital assets while transacting.
