Paytm Brings Biometric Authentication For UPI Payments and Cardless ATM Withdrawals, All Details Here

Paytm has finally brought two of the most needed features of this age, including biometric authentication for UPI payments and cardless ATM withdrawals. All the users will be able to verify their payments with Face ID or fingerprint in place of manually entering the UPI PIN every time. On the other hand, the cardless ATM withdrawals will let users withdraw cash without a physical ATM card. This update came after the Reserve Bank of India (RBI) welcomed the new two-factor authentication rules in the country, starting from April 1. According to the new framework, users are now supposed to verify transactions with more than just an OTP. The authentication could by anything like a password, PIN, biometric authentication, and secure token. And yes,

the mandate is applicable to all digital payment formats, including wallets, cards, and UPI. Paytm has also confirmed that the biometric authentication feature works on both iOS and Android devices. The company has also assured the users that none of their biometric data will be stored or accessed by Paytm or the bank. For those who are unaware, the biometric UPI payments have a high limit of Rs 5000 per transaction. It has also been confirmed that the UPI PIN option will be available for those who prefer it as the primary method to make payments.Xiaomi 17 Max Release Timeline, Specifications, Camera, Price In India, And More And if you want to activate the biometric payment method on your phone, then just open the Paytm app, tap on the profile icon on the left, and head to Settings. After that, you will get to see Pay with Fingerprint or Pay with Face ID. Now, select the bank account for which you want to activate biometric payments and get done with the on-screen prompts to set it up. Cardless ATM withdrawals can be triggered at any participating ATM, where you can just go for the UPI cash withdrawal option, enter the amount, and then scan the QR code available on the screen with the Paytm app.