‘Pocket Money’ Feature by Paytm: Teenagers can Make Supervised Digital Payments Without Their Own Bank Account

There was a time when people had to step out of their homes to buy something. But in today’s digital age, we are witnessing many changes. We live in an era where everything, from shopping to banking can be done sitting at home within just a few minutes. However, teenagers are completely dependent on their parents as they do not have their own bank accounts. To address this problem, fintech giant Paytm is taking a new initiative by launching the ‘Pocket Money’ feature. Paytm now lets teenagers make UPI payments without their own bank accounts.

‘Pocket Money’ Feature by Paytm

Paytm is launching the new ‘Pocket Money’ feature. Teenagers can now spend safely with parental control. The most important thing about this Pocket Money feature is that even after giving their children the freedom to make payments, parents can keep a close eye on their finances. In other words, this feature ensures that complete financial control remains firmly in the hands of the parents. Additionally, parents can now use their own Paytm app to not only set spending limits for their children but also monitor every transaction they make.

Essentially, this new feature is built entirely on the ‘UPI Circle’ technology developed by the National Payments Corporation of India (NPCI). Simply put, this feature allows a primary account holder to make digital payments to a family member, who does not have their own bank account.This feature enables parents to easily set a monthly spending limit of up to Rs 1500 without any hassle. Additionally, the one-time payment limit has been capped at Rs 5000. However, for security reasons, international payments and cash withdrawals have been disabled for this feature at present.

Humbly Request To All Visitors!
If you found above both downloading link expired or broken then please must inform admin by fill this Contact Us! Form