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Informist, Monday, May 18, 2026

--One 97 Comm starts Paytm Pocket Money, allows UPI payments without bk acct 

NEW DELHI – One97 Communications Ltd. owned Paytm, has launched ‘Pocket Money', a new feature that allows teenagers to make Unified Payments Interface payments without having their own bank account. The feature allows parents and trusted family members to give controlled spending access to teenagers through the Paytm app, while keeping track of their payments in real time.

The company said parents and family members can invite teenagers through the unified payments interface circle by the National Payments Corp. of India. The feature is aimed at teenagers making small everyday payments such as for metro rides, canteens, cabs, shopping, and mobile recharges,the company said in an exchange filing on Monday. Under the feature, parents can set monthly spending limits, while teenagers can make payments independently using their own phones without needing one-time password or their parents' phones to complete transactions.

Paytm said individual transactions will be capped at INR 5,000 and the monthly spending limit across the UPI network will be INR 15,000. International payments and cash withdrawals will not be allowed. The company has also added safety controls such as an INR 500 spending limit during the first 30 minutes after setup and a mandatory device lock for all users.

One 97 Communications reported a consolidated net profit of INR 1.84 billion for the March quarter, on revenues of INR 22.64 billion. At 1207 IST, shares of the company were down 4.2% at INR 1,083.80 on the National Stock Exchange.    End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Gunjan Rajput 

Edited by Vandana Hingorani

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