Paytm, the digital payments company, introduced a new unified payments interface (UPI) feature on Wednesday. The new feature, dubbed UPI statement download, allows users to get a detailed statement of their transaction history for the desired period. The service is available to all users without any cost. The company highlighted that the feature will enable users to both keep track of their expenses as well as assist them when filing taxes. Notably, the National Payments Corporation of India (NPCI) allowed Paytm to onboard new UPI users.
Paytm Launches UPI Statement Download Feature
In a press release, the One97 Communications-owned brand detailed the new UPI statement download feature. With this feature, users can easily generate a detailed document containing records of their transaction history. The details can be downloaded for any date range as well as the entire financial year with a few simple steps.
The generated statement is available in PDF format, and the company highlighted that an option for the Excel file format will be added soon. Paytm’s UPI statement download feature shows information such as transaction amounts, recipient details, bank accounts used, and timestamps.
Paytm stated that the feature is helpful for both keeping track of expenditures, and maintaining financial records, as well as during the tax filing process. The latter can come in handy if users make business expenses via UPI or use chartered accountants to fill out their taxes.
To use the feature, users will need to open the Paytm. In the app, users will find the “Balance & History” option on the home screen. There, users can tap on the download icon represented by a downward arrow and choose from one month, three months, six months, one year, and custom date ranges. There is an option to pick financial years as well. Gadgets360 staff members were able to test out the feature.
Announcing the feature, a Paytm spokesperson said, “With the UPI statement download, we innovate to offer easy access to transaction history, empowering users to make informed financial decisions.”