Paytm has launched a new feature called “Pocket Money” aimed at teenagers who do not have their own bank accounts, allowing parents to digitally transfer and manage allowances securely. The feature is designed to help families encourage responsible spending habits while giving teens controlled access to digital payments through the Paytm app.
Under the new system, parents can create a dedicated Pocket Money account for their children directly within the Paytm platform. Teen users receive their own Paytm-linked profile to make payments, shop online, recharge mobile numbers, and carry out limited digital transactions without needing a personal bank account. Parents maintain oversight by setting spending limits, monitoring transactions, and controlling fund transfers.
To activate the feature, parents need to update the Paytm app, navigate to the Pocket Money section, and complete verification using their existing account details. Once set up, teenagers can access digital payments through their assigned Paytm profile while remaining connected to parental supervision.
The initiative reflects the growing adoption of digital financial tools among younger users in India. With this launch, Paytm aims to promote financial literacy and safe digital transactions for teenagers while expanding its family-focused fintech services ecosystem.
