With Paytm, you can now download UPI statements to track your expenses
Digital payments company Paytm on Wednesday introduced a new Unified Payments Interface (UPI) feature. The new feature, called UPI statement download, allows users to get a detailed view of their transaction history for the desired period. The service is available free of charge to all users. The company emphasized that this feature will allow users to both track their expenses and help them file 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. This feature allows users to easily generate a detailed document containing data about their transaction history. With a few simple steps you can download the data for any period and the entire financial year.
The generated statement is available in PDF format and the company emphasized that an Excel file format option 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 useful for tracking expenses and maintaining financial records as well as during the tax filing process. The latter can come in handy if users make business expenses through UPI or use chartered accountants to file their taxes.
To use the feature, users must pay Paytm. Within the app, users will find the ‘Balance & History’ option on the home screen. There, users can tap the download icon, represented by a down arrow, and choose from one month, three months, six months, one year, and custom date ranges. There is also an option to choose financial years. Gadgets360 employees were able to test the feature.
Announcing the feature, a Paytm spokesperson said, “With UPI statement download, we are innovating to provide easy access to transaction history, helping users make informed financial decisions.”
