Paytm launches Pocket Money: Teens without a bank account can now make UPI payments, parents can set limits; here’s how

Digital payments company Paytm on Monday, 18 May launched Paytm Pocket Money, allowing teenagers without a bank account to make UPI payments.

In a disclosure statement sent to the Bombay Stock Exchange (BSE), Paytm said that with this new launch teenagers can make UPI payments independently, “without relying on cash or a parent to complete payments on their behalf.”