Skip to main content

What Is Paytm, and How to Use Paytm Wallet?


HIGHLIGHTS

  • Paytm Wallet can be used to buy goods and avail services online & offline.
  • Paytm Wallet can be recharged via netbanking and debit & credit cards.
  • Your Paytm Wallet can have up to Rs. 10,000; do KYC for higher limit. 
Since Prime Minister Narendra Modi announced the demonetisation(NOTE bandi) of the Rs. 500 and Rs. 1,000 notes, Paytm and other mobile wallets have enjoyed tremendous growth. The lack of cash in hand and long lines have made digital wallets a necessity for the common man - at least those with smartphones - propelling the likes of Paytm to the top of the user’s mind.



Are you too confused about what is Paytm, how Paytm works, and what you can do with it? Then read this guide to using Paytm.


What is Paytm?


Paytm was founded and incubated by One97 Communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for "Pay Through Mobile". Apart from being accessed from the browser, its app is available on the Android, Windows and iOS operating systems.

In 2014, the company launched Paytm Wallet, which became India's largest mobile payment service platform with over 150 million wallets & 75 million android based app downloads as of November 2016.[7] The surge in usage of the service was largely due to the demonetization of the 500 and 1000 rupee currency notes.
For download:
For ANDROID user: click here
For IOS user: click here
For windows user: click here

What is Paytm Wallet?

Paytm Wallet, as mentioned above, is the digital payment instrument where you can transfer money from your bank account or credit card to use for transactions on the platform. You need to set up an account using your mobile phone number and email ID to setup a Paytm account and transfer cash to the wallet. You can add up to Rs. 10,000 in a month in the Wallet; if you want to increase the monthly limit, then you can get the KYC (Know Your Customer) processor done. With this, you can have up to Rs. 1 lakh in the Paytm Wallet at any point of time.

How to use Paytm and Paytm Wallet?

In order to use the Paytm Wallet and transact cash-free, follow the steps below:
  1. Set up a Paytm account using your mobile number and email ID Add some money to your Paytm Wallet using netbanking, debit card, or credit card
  2. To transfer money to someone else, select the 'Pay or Send' option
  3. You can make payments to others or to bank accounts on Paytm by scanning a QR code
  4. Alternatively, you can send money to another Paytm user via their phone number.

How to use Paytm for offline payments?

You can make cash-less payments using Paytm Wallet even without internet connectivity. If a retailer accepts Paytm as a mode of payment, you can either use QR codes or bar codes, along with a One-Time Password (OTP) to pay them. To do this, you need to open the app, select the ‘Pay or Send’ option, and choose between QR code or bar codes (provided in two separate tabs). Just scan the code and enter the OTP to authorize the payment offline. This feature can be especially useful right now, when the whole country is facing a cash crunch and internet connectivity is still not good enough to facilitate online transactions.

Is Paytm Wallet safe?

Security is top of everyone's mind when it comes to any digital, but Paytm – which is an RBI-approved wallet – says it keeps the money you put in the Wallet is “protected under Escrow account with a reputed bank.” Paytm uses Verisign-certified 128-bit encryption technology, which means that the secret key used in transactions is a sequence of 128 bits and does not reveal anything about the password length or contents. The platform is PCI DSS 2.0 certified, which means it does not store credit card data in unencrypted form.
Labels:

Comments

Post a Comment

Popular posts from this blog

10 MOST HAUNTED PLACES IN THE WORLD

It seems that one of the most enduring aspects of cultural similarity found throughout the world involves the supernatural.  No matter where you go across the globe, you’re going to hear various legends and ghost stories…except some of these carry significantly more weight than your average campfire story.  People seem to be somewhat obsessed with what goes on after death, especially in regards to whether or not the spirits of the departed stick around.  It would be easy to say that such attention can be blamed on vivid, Hollywood inspired imaginations, but documented reports of supernatural disturbances go back several centuries in many places, underlining the fact that no matter the time period or society involved, the paranormal remains on people’s minds. Sure, many places in the world that are reputedly haunted seem more far-fetched than realistic, but there are those that have a tendency to make even the most hardened skeptic stop and reconsider.  Listed he...
Post a Comment
Read more

How to Make Phone Numbers Callable in Google Sheets?

How to Insert Clickable Phone Numbers in Web Pages We use the simple tel protocol to convert a plain text phone number on a web page into a clickable telephone link For instance, if you click  this link  on a mobile phone, it will open the phone dialer prefilled with the specified number. There’s no need to copy-paste numbers. How to Type Phone Numbers in a Google Sheet It is a bit tricky to type phone numbers inside Google Spreadsheets. Here’s why: Phone numbers are mostly made of digits preceded by the plus (+) symbol. The problem is as soon as add the plus sign in the spreadsheet cell, it assumes that you entering a math formula and tries to calculate the value. There are two simple workarounds to this problem. You can enclose the phone number inside double quotes (“) and precede it with an equal to (=) sign. An even easier alternative is to use the single quote (‘) before the phone number. Google Sheets will then interpret the cell’...
Post a Comment
Read more

What is Bitcoin?

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency. What makes it different from normal currencies? Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally. However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is  decentralized . No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money. Who created it? A software developer called Satoshi Nakamoto proposed bitcoin, which was an electronic payment sys...
Post a Comment
Read more