Paytm app gets big makeover with AI tools and new payment features: here’s what you need to know

Paytm has introduced a new and enhanced version of its app with a cleaner and more intuitive UI, smarter payment history and even AI driven insights. In a release about the new update, Paytm says that the refreshed interface focuses on making payments effortless and intuitive.

“We are bringing intelligence to payments, where the app understands your spending, organises it automatically, and helps you manage it better. We are also giving Gold Coins on every payment, redeemable into real digital gold, so that every Paytm payment becomes a golden one. Built in India for every Indian, this is our next step in making payments truly smarter,” Paytm CEO Vijay Shekhar Sharma said on the update.

New features in the Paytm app:

Total Balance: This feature allows users to see the total money they have across their UPI linked bank accounts without having to manually add individual account balance. The company also rolled out a monthly spend summary feature which automatically categorizes the users’ expenses across shopping, bills, travel, and utilities.

Hide Payments: Paytm has added a new feature which allows users the option to have have certain payments hidden from their payment history. Users will also be able to download UPI statements in Excel or PDF format with comprehensive narration about each payment

Payment location: The new feature to allow users to know wher each payment took place, giving them an idea about purpose of past payment. Users can also search past payments by name, amount, note or even by payment type like ‘grocery’ and ‘entertainment’.

Magic Paste: The new feature removes the need to type bank account and IFSC code by allowing users to just paste a message with payment information in the app. The new Paytm app will automatically detect and fill in the account and IFSC details instantly.

Built-in Calculator: The refreshed Paytm app now comes with a calculator in the payment flow to allow users to quickly add amounts to be paid while making the payments.

Personalized UPI IDs: Paytm will now allow users to personalize their UPI ids by giving users the option to choose their UPI id like name@ptyes or name@ptaxis. This, the company says will help ensure that customer’s mobile number does not get revealed during the payment process while the UPI id also becomes easy to remember.

Gold coints on payment: Paytm will now offer ‘Gold Coins’ on each payment which the company says can be redeemed as digital gold.