How to add credit line on PhonePe or Paytm for seamless payments?

PhonePe has recently launched a new feature that lets the users link pre-approved credit lines to UPI. So, if you have a pre-approved credit line from your bank, you can now simply link it to your UPI account on the PhonePe application. It will work in a similar way that you use the debit card and make payments with your credit line. This will also give a boost to your savings by giving you a way to manage monthly savings without accessing your savings. Also Read: ChatGPT On UPI App? PhonePe Partners With OpenAI, Here's What Will Be Changed

The feature will be beneficial for both businesses and individuals. Moreover, it is also going to make payments on the platform seamless. This came after the Reserve Bank of India expanded the capabilities of UPI to add pre-approved credit lines. Also Read: Paytm Launches AI-Powered Travel App ‘Paytm Checkin’ To Book And Plan Everything

PhonePe officials said that the feature is being introduced in the country to increase the use of credit lines and make familiar with it. The feature is also available on PhonePe arch rival Paytm. And the feature can be activated from there with ease as well. Also Read: No PIN Needed: Google Pay, Paytm, And PhonePe Users Can Pay Using Fingerprint Or Face Scan

How to link your credit line to UPI on Paytm?

• Open Paytm on your smartphone and click on the profile icon at the top left.
• Now, scroll down a little and head to the UPI & Payment Settings section.
• After that tap on the Add credit line on UPI button in the Payment Accounts section.
• Select the bank and then you credit line will get linked successfully for future payments.

How to link your credit line to UPI on PhonePe?

• Firstly, open the PhonePe application and visit the profile section by tapping the icon available at the top left corner of the screen.
• Now, tap on the Credit Line UPI option available under the Payment Methods section.
• Search for your bank from the menu and then tap on it.
• After that, tap on the send SMS button to link the credit line and set up a UPI PIN for the same.
• After linking your credit line successfully, you will be able to see the payment option during checkout.