How to Use Paytm Wallet – Since Prime Minister Narendra Modi announced the demonetisation of Rs. 500 and Rs. 1,000 notes, Paytm and other mobile wallets have made tremendous growth. Lack of money in hands and long lines has made digital wallets a necessity for the general – minimal with smartphones – promotion of Paytm’s choice most in the user’s mind.
Paytm claims to have more than 150 million users, making it the most important online payment platform within the country. Despite this, there are more in India that do not yet use Paytm and its digital wallet. Are you very confused about how Paytm, Paytm works and what you will do with it? Then read this guide to use Paytm.
What is Paytm?
Paytm, owned by One97 Communications, can be a digital payment platform that allows you to transfer cash into an integrated wallet by depositing cash through online banking, open-end credit and credit cards, or perhaps through select banks and partners . Using cash within the Paytm wallet, you will purchase a wide variety of products without using cash.
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In Paytm transactions, you are recharging for mobile phone, metro card, DTH cable, data card etc., as well as postpaid payment for mobile phone, landline / broadband, electricity, water and gas bills etc. Can also do. Book tickets for buses, trains, flights, movies, hotel rooms etc. and buy Uber cab rides using the platform. Additionally, you will buy goods on the company’s e-commerce platform using a wallet, and even make offline payment, Paytm claims for over 8 lakh merchants.
What is Paytm Wallet?
Paytm Wallet, as mentioned above, is a digital payment instrument where you will transfer money from your checking account or MasterCard to use for transactions on the platform. If you want to open an account using your mobile number and email ID, set up a Paytm account and transfer cash to the wallet. You Rs. 10,000 during a month within the wallet; If you want to increase the monthly limit, you will get a KYC (Know Your Customer) processor. With this you will get Rs. 1 lakh within Paytm wallet at any time of its time.
How to use Paytm and Paytm Wallet?
To use Paytm Wallet and perform cash-free transactions, follow the steps given below:
- Find Paytm account using your mobile number and email id
- Add some money to your Paytm wallet using NetBanking, Debit Card or MasterCard
- Select ‘Pay or send’ option to transfer money to someone else
- You will scan a QR code and make payments to others or to bank accounts on Paytm
- Alternatively, you will send money to a different Paytm user through their telephone number.
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How to use Paytm for offline payment?
You can make cash-less payments using Paytm wallet even without internet connectivity. If a retailer accepts Paytm as a mode of payment, you will use a one-time password (OTP) as well as a QR code or bar code to pay them. To try this, you want to open the application, choose the Send Pay or Send option, and choose from QR code or bar code (provided in two different tabs). Just scan the code and enter the OTP to authorize payment. This feature is often particularly useful immediately when the entire country is facing a cash crunch and Internet connectivity is not good to facilitate online transactions.
Is Paytm Wallet secure?
Security is top of mind when it involves any digital, but Paytm – which is an RBI approved wallet – states that the cash you set within the wallet is “an escrow account with a reputable bank. Protected under. ” Paytm uses Verisign-certified 128-bit encryption technology, which states that the key used in a transaction can be a sequence of 128 bits and does not mention anything about the length or content of the password. The platform is PCI DSS 2.0 certified, stating that it does not store MasterCard data in an unencrypted form.
What are some options of Paytm?
While Paytm is that the major players within the digital payment space, others are not far behind either. Snapdeal-owned Freecharge, Mobikwik, Ola Money, and Payumani are other names during this segment that are very popular, each with its own distinct feature.