Paytm launches 'Pocket Money' letting teens pay without bank accounts
Technology
Paytm just rolled out "Pocket Money," a feature that lets teenagers make UPI payments even if they don't have their own bank account.
Parents stay in the loop: they can set spending limits, invite their teens to join, and keep an eye on every transaction right from the Paytm app.
Parents control spending up to ₹15,000
Parents can set a monthly cap of up to ₹15,000 for their teen's spending, with per-transaction limits and extra safety checks when starting out.
The feature blocks international payments and cash withdrawals for added security.
It's handy for things like school lunches or metro rides, helps teens manage money better, and gives parents peace of mind with real-time controls and easy expense tracking.