Paytm now lets you pay via Face ID or fingerprint; Plus, cardless ATM access is here

Paytm has rolled out two updates that you’ll actually notice in daily use, and you can even use it to make payments quickly. You can now approve UPI payments using Face ID or fingerprint, and also withdraw cash from ATMs without a debit card, the FinTech giant said in a post. Both of these features are designed to reduce the number of steps and dependency on cards. This will also make verification quicker. Also Read: How to make UPI payments via WhatsApp in a second

How to make payments via Face ID/fingerprint on Paytm

The first change is around how you approve payments. Instead of entering your UPI PIN for every transaction, you can now use biometric authentication. So if your phone supports fingerprint (Android) or Face ID (iPhone), you can just verify the payment directly on the device. That said, the PIN option is still there. This isn’t replacing it, just giving you another way to approve payments. However, there’s also a limit here. As per guidelines, biometric-based UPI payments are capped at Rs 5,000 per transaction for now. Also Read: UPI down in India: SBI, UCO bank faces major outage, users struggle

Cardless ATM withdrawals with Paytm?

What’s more interesting is that Paytm is now supporting UPI-based cardless cash withdrawals at supported ATMs. Here’s how it works:

• First of all, go to an ATM that supports UPI withdrawals
• Select the “UPI Cash Withdrawal” option
• Enter the amount
• Scan the QR code using Paytm
• Approve via PIN or biometrics
• Once done, the ATM dispenses cash with no debit card needed.

You must note that the per-transaction limit is usually up to Rs 10,000, depending on your bank. Interestingly, this rollout comes right after updated RBI rules around stronger authentication for digital payments. At the same time, cardless withdrawals are slowly becoming more relevant.

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Will your biometric data be stored by Paytm?

One concern people usually have with biometrics is data safety. Paytm says that biometric data is not stored or accessed by the app or the bank. Authentication happens directly on your device. Also, if you’re not comfortable using Face ID or fingerprint, you can just continue using the UPI PIN like before.
These aren’t flashy features, but they make everyday payments simpler.