What is Paytm? How to use Paytm Wallet? and How to do Paytm KYC?
Since the announcement of demonetization from Modi Government, Paytm, and other e-wallet and digital payments companies enjoyed an enormous growth. Modi Government is continuously making aware to people about the digital payments. They are encouraging people to do cashless payment via different communication mediums. So, Let’s learn how to use paytm?
What is Paytm?
“Pay Through Mobile” is the acronym for Paytm. It is a digital payments platform that allows you to transfer cash into the integrated wallet via online banking, debit cards, and credit cards, or even by depositing cash via select banks and partners.
You can use Paytm for –
Recharge – Recharge for mobile phones, metro cards, DTH, data cards, etc.
Bill Payment – Mobile, Landline, Broadband, Water and Electricity bills etc.
Booking – Booking of tickets for buses, trains, flights, movies, hotel rooms, etc.
Money Transfer – You can transfer money to any bank account from your Paytm wallet
Shopping – Like Flipkart and amazon you can shop for products.
Paytm is owned by One97 Communications.It is a digital payments platform that allows you to transfer cash into the integrated wallet Using the money in the Paytm wallet, you can pay for a number of goods without using cash.
Like Paytm There are many E-wallets are available in the market, Mobikwik, Freecharge, Oxigen wallet, PayUMoney And the recently launched Jio Money.
What is Paytm Wallet?
It is the digital payment instrument where you can transfer money from your bank account or Debit/Credit card to use for transactions on the Paytm.
You can add up to Rs. 20,000 in a month in the Paytm Wallet. To increase the monthly limit you have to get the KYC (Know Your Customer) process done.After that process, you can do transactions up to Rs. 1 lakh.
How to do Paytm KYC Process?
Before learning how to use paytm. Let’s learn first, how to do Paytm KYC process.To complete KYC, you have two options.
- Visit nearest Paytm KYC center. – Find it here.
- Request a visit from Paytm Agent. – Request a Visit.
How to use Paytm?
After installation of the Paytm App.
Step 1 – Open the app and Sign up.Use your mobile number to sign up and follow the on-screen instructions. You will get an OTP through SMS during the registration process. This will be automatically read. After that, you can set a password for your account. Once the password is set, you can log into the account.
You can use same Username and Password for mobile app and desktop.
Step 2 – Log in and add some money into it.This money can be filled into account using a valid debit or credit card. The limit is 20,000. That is the maximum amount of money you can have in the Paytm account.You can increase the limit up to 10000 by doing KYC submissions.
Step 3 – Once you have the money in the wallet, you can use it for payment. You can make online payments for ticket booking, mobile recharge or shopping.
To make the payment, open the app and tap on the ‘Pay’ on the Blue part at the top in Paytm app. This gives you three ways to make payment.
- You can scan the Paytm QR code that a seller will have at his shop. You will get the details of the shop and then you will have to put required amount in the app and tap pay.
- Second, you can use the phone number of the Paytm account holder to pay the amount.
- The third method to pay through Paytm is via the QR code in your app. In this case, the shopkeeper will scan the code on your paytm app and then you can put the money that you want to pay him.
Also, you can accept the payments via Paytm. To accept payments tap on the 4th option ie. ‘Accept Payment’ on the blue part of the app.
So, you have learned How to use paytm. Now enjoy cashless payment system.
Some interesting things you must know about paytm are – On the shopping, recharge or bill payments it gives you cashback.To find Cashback codes visit coupon websites like grabon.in, coupondunia.in etc. Also, you can earn free Paytm money from Slide App. Slide App pays money to unlock your smartphone. You can add that earned money into Paytm wallet. Also, you can make your slide app earnings double with this trick.