Paytm (One 97 Communications) announced the launch of Paytm Pocket Money. It enables teenagers to make Paytm UPI payments without having their own bank account, while allowing parents and trusted family members to provide safe and controlled spending access with defined limits and real time visibility on their child's payments made through the Paytm app.

Across India, teenagers are increasingly making everyday payments for school and college canteens, metro rides, cabs, mobile recharges, shopping, and more. Many still depend on cash or parents and family members to make a payment for these expenses. Paytm Pocket Money brings this behaviour into a secure digital format, allowing parents to manage allowances while introducing teenagers to Paytm UPI in a supervised way.

With Paytm Pocket Money, parents and family members can invite teenagers through UPI Circle by NPCI, set monthly spending limits, and track payments in real time. Once activated, teenagers can make secure Paytm UPI payments across millions of online and offline merchants using Paytm app through their own mobile phone. Teenagers gain independence and now no longer need to borrow their parent's phone, ask for OTPs, or send QR on whatsapp to their parents to complete payment on their behalf. Parents or a trusted family member can set up Paytm Pocket Money for their teenagers, with individual payments capped at Rs 5,000 and a monthly limit of Rs 15,000 across the UPI network. The service is available on savings and current accounts, with restrictions on international payments and cash withdrawals.

What sets Paytm Pocket Money apart is its integration with Paytm Spend Summary, where every payment is automatically categorized, enabling families to monitor expenses, manage allowances more effectively, and build disciplined money habits over time.

Paytm Pocket Money also comes with safety controls inbuilt where payments are capped at Rs 500 for the first 30 minutes after setup and Rs 5,000 within the first 24 hours. A device lock is mandatory, and spending limits can be modified or access can be revoked anytime instantly using the Paytm UPI PIN. Payment history is also visible through the Paytm app.