Payments platform Paytm will be introducing UPI transactions on its platform where users can create their virtual payment address (VPA) on the app. The VPA will be issued by Paytm Payments Bank and users can link any savings bank accounts which are on the UPI architecture. The UPI feature will be available to Android users first and iOS users later. Paytm says that the VPA created will have their registered mobile number, for example, 1234567890@paytm. Note it looks like the feature will be rolling out to users gradually and MediaNama was unable to generate a VPA on the app. However, it remains to be seen if users can edit the VPA created or create an id without their phone numbers. But it looks like users can now scan UPI QR codes on the Paytm app to make a payment. Update: Paytm's senior vice president Deepak Abbot said that the UPI feature is in beta testing and users will have to go to the Google Play Store and scroll down on the Paytm page to enroll for beta. He added that Paytm will also allow users to create their own VPAs as well. Paytm being on the UPI will also allow the company to open up its merchant QR code network to other UPI apps as well. So far, it looks like Paytm CEO Vijay Shekhar Sharma seems to have shown willingness to open up their closed merchant network. ICYMI --- we have allowed banks to scan Paytm QR. Open latest Citi bank app…
