How to Use Paytm Wallet – Millions of citizens in India are using Paytm today and are continually introducing new users. Paytm and other payment apps have witnessed significant growth.
The carry of money in the pocket and long queues rendered e-wallets a need that pushed Paytm to the forefront of the user’s mind for the common man atleast those with Smartphones. Paytm has more than 140+ million users, making it the country’s largest online payment site.
So, if you want to know how the Paytm wallet works? and how to use Paytm? Please read the complete post. I will explain all about Paytm Wallet step-by-step in this article.
Let’s see, now,
What is Paytm?
Paytm is the largest payment gateway for mobile payments and commerce in India. Owned by One97 Communications, Paytm is a digital payment network that helps you to transfer cash via online banking, debit cards, and credit cards into an automated wallet, or even through depositing money through select banks and partners.
It lets you quickly transfer money to everyone using the Paytm Wallet at zero transaction charges. You may pay for several items without using cash by using the money in the Paytm wallet, such as vehicles, taxis, medical shops, cinemas, gas stations, hotels, coffee shops, parking, grocery stores, hospitals, Kirana stores, and even a tea shop.
You will also use it to pay for telephone, net, cable, recharges, bill of energy bills, travel fares, book movies, and other e-commerce purchases online.
What is Paytm Wallet?
As described above, Paytm wallet is a digital payment tool where you can transfer cash from your bank account or credit card to be used on the platform for transactions.
To install a Paytm account and transfer some money to the wallet, you need to set up an account using your cell phone number and email ID. In the wallet, you can add up to Rs. Ten thousand in a month, so you can have the KYC (Know Your Customer) processor completed if you wish to raise the monthly limit. With this, you will have up to Rs. 1 lakh in the Paytm Wallet at any point in time.
How Paytm Works?
You were using your mobile number and email ID to set up an account with Paytm. Using debit cards, credit cards, or net banking, add some money to your Paytm Wallet. Select the ‘Pay or Send’ a choice to transfer money to someone else. By scanning a QR code, you may make transfers to others or bank accounts on Paytm.
How to Install paytm?
In downloading sites such as the Paytm store for IOS users and the Google Play store for App users, Paytm has two kinds of applications. You can download “Paytm Money” from the Google Play Store (Android users) or the “App Store” if you choose to download for your personal use (IOS users).
And you can download the “Paytm for Business” app from the respective downloading sites if you are a storekeeper or business owner. You can also download the Paytm app from Paytm’s official website if you encounter any download issues.
How to Use Paytm?
Follow the steps below to use Paytm Wallet and transact cash-free:
Use your mobile number and email ID to set up a Paytm account with net banking, debit card, or credit card, and add some cash to your Paytm Wallet.
To transfer money to someone else, pick the option ‘Pay or Send’
By checking a QR code, you may make transfers to others or bank accounts from Paytm.
Alternatively, through their phone number, you may send money and pay bills to another user of Paytm.
How to Use Paytm for Offline Payments?
Also, without internet access, you can make cash-less payments through Paytm Wallet. You may either use QR codes or bar codes, along with a one-time password (OTP) to pay them, if a merchant supports Paytm as a payment mode.
You need to open the app to do this, pick the button ‘Pay or Send‘ and choose between the QR code and bar codes (provided in two separate tabs). Check the code and enter the OTP to authorize the offline payment.
As the entire world faces a cash shortage and internet access is still not strong enough to enable online transactions, this work can be beneficial.
Is Paytm Wallet Safe?
When it comes to everything digital, protection is top of everyone’s mind. Still, Paytm, which is an RBI-approved wallet, claims it holds the money you placed in the wallet is “protected with a reputable bank under Escrow account.” Paytm uses 128-bit VeriSign-certified encryption technology, ensuring that the hidden key used in transactions is a 128-bit sequence and does not disclose anything about the password. The device is accredited by PCI DSS 2.0, meaning it does not hold credit card details unencrypted.
What are Paytm’s Alternatives?
In 2021, there are lots of digital payment players available for Indian individuals. However, Paytm still carries top position in the digital payment processor segment, but Google Pay, Airtel Payment Bank, PayUMoney, FreeCharge, MobiKwik, etc., are become in the trend.
How Can I Use Paytm for the First Time?
When, you install the Paytm app on your mobile-first time. Register with your email id and mobile number. Once you completed the registration process, log-in to your account and clicked on the “Paytm Wallet” tab displayed on the top right corner.
You can now add money to your Paytm wallet by clicking on the “Add Money” tab. Attach your Debit/Credit card or linking your bank account. Then you can use your Paytm wallet to pay, send and receive money to other Paytm users.
How Can I Add Money to Paytm?
Just open your Paytm app by tapping on the icon on the mobile screen. Next, log-in to your account and click on the “Paytm Wallet” tab. You will see different options to add payment in your Paytm wallet: Debit/Credit Card, Net-Banking, or other UPI payment processor, etc.
Choose one and click on the “Add Money” option; you will redirect to a new secure page, here you can enter the amount and confirm to add money.
You may also like to read: How to Start a Blog in India – Simple and Easy Guide for Beginners!
Can I Use Paytm Without a Bank Account?
You don’t need to attach your bank account until your usage and transaction is limited, under the rules. But, if you want to use the maximum benefits of a Paytm wallet to travel booking, mobile recharge, and pay bills, etc., you need to attach your Debit or credit card, or bank account.
How Can I Use My Paytm Money in My Bank Account?
You can transfer your Paytm money to your bank account by following these steps:
Open your Paytm account and click on the “Bank Transfer” tab. select your bank account, which you linked before with Paytm. (If not yet, link now)
After that, fill the amount in the place and confirm.
Within few seconds, a “Transaction Successful” pop-up message will show on your device screen. That’s it.
How to Earn Free Paytm Cash?
There are lots of apps and websites on the internet where anyone earn Paytm cash without doing much efforts and doing some simple task. If you want to earn some paytm cash, you can read this post:
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