Paytm Pocket Money Feature: Parents to Have Complete Control Over Children's Expenses—Paytm Launches New UPI Feature..

In today's digital world—whether you visit a supermarket or a local vegetable market—everyone has started making payments online. Similarly, children now rely on UPI for their minor school and college expenses, mobile recharges, and even for making various bookings. Keeping this in mind, the digital payments company Paytm has launched a remarkable feature called 'Paytm Pocket Money.' The most significant highlight of this feature is that teenagers (aged 13 to 19) can now make UPI payments directly from their phones without needing to open their own bank accounts.

How does Paytm Pocket Money work?
Typically, whenever children purchase something online, they have to borrow their parents' phones to make the payment, or else...

...they have to repeatedly ask their parents for the One-Time Password (OTP). Often, children even send QR codes to their parents via WhatsApp and ask them to complete the payment. However, this new feature from Paytm will eliminate this entire hassle.

Now, children can simply install the Paytm app on their own phones and make secure payments at any shop by scanning a QR code. This not only saves parents from constant inconvenience but also allows children to learn about financial responsibility at an early age.

How safe is this feature for children?
If you are concerned that using this feature might lead children to spend money indiscriminately without any checks, there is no need to worry. Paytm has prioritized both security and parental control:

**Expense Tracking:** Parents can use their own Paytm accounts to track—in real-time—exactly when, where, and how much money their child has spent.

**Monthly Limit:** Parents can personally decide the maximum amount of pocket money their child is allowed to spend in a month.

**Initial Security:** When setting up this feature, an initial security measure limits transactions to a maximum of ₹500 during the first 30 minutes of activation. Maximum Limit: To safeguard against any form of fraud or misuse, a maximum transaction limit of ₹5,000 has been established within a 24-hour period. This means that children will not be able to spend more than ₹5,000—whether in a single transaction or over the course of a day.

How to Set Up 'Paytm Pocket Money'?
Setting up the Paytm Pocket Money feature is quite simple. By accessing the updated Paytm app, you can easily link your child's Paytm account or UPI ID to your own Paytm account.

By following the method outlined above, you can easily set up a Paytm UPI for your child and, in the process, teach them about financial responsibility and the basics of money management.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.