Paytm wallet is a secure and RBI-approved digital/mobile wallet that can be used to meet almost all of your financial needs. You can add money to the Paytm wallet through UPI, internet banking, or credit/debit cards. Additionally, you can also send money from your Paytm wallet to a bank account or to another person’s Paytm wallet at absolutely no extra charges.
You can use the Paytm Wallet to perform the following transactions –
- Pay utility bills like that of electricity, broadband/landline, municipal taxes, water, or gas (cylinders or prepaid gas), challan, etc. You can also pay education bills such as school fees or apartment rent
- With Paytm, you can recharge your mobile phone, broadband connection, metro card, DTH, FASTag, Google Play services, etc. You can pay also mobile postpaid bills, credit card bills as well using your Paytm account
- Use your Paytm Wallet to book flight tickets, train tickets on IRCTC, bus tickets, book movies, etc. You can book these either directly on the Paytm application or use the Paytm payment mode on applications like BookMyShow, IRCTC, etc.
- Through your Paytm Wallet, you can pay to avail of services through other partner applications like Uber, Zomato, Flipkart, etc. You can pay directly at these third party apps using your Paytm account or add money directly to your wallet
- You can do online shopping through Paytm Mall and/or other e-commerce platforms like Myntra, Ajio, and others. Not only can you use your Paytm wallet for payments on these 3P apps but also check out the offers and vouchers from Paytm to get additional discounts/ earn cashback
- You can also buy and share gift vouchers with your friends or purchase subscriptions to several apps
- You can make Paytm FASTag payments as well as bank-issued FASTags payments from the Paytm Wallet
- Apart from the services and facilities mentioned above, you can also order medicines, consult doctors, access various lifestyle or other service applications from the Paytm mini store
Features of Paytm Wallet
Paytm is by far the largest online payment platform in India that allows its users to transfer money to another using the Paytm wallet user at zero cost. It also helps users to pay utility bills, book movies/tickets, or avail various services from other partner applications. Here is what you must know about the Paytm wallet-
- Paytm Wallet is a safe, secure, and approved digital wallet application governed by the Reserve Bank of India
- The money in your Paytm wallet is like ready-to-use cash that you can access at any time and any place
- You can add money to your Paytm wallet using a credit card, debit card, net banking, or through UPI
- You can add up to INR 10,000 in a month after completing minimum KYC through a very simple and quick process. To do minimum KYC, you only need to submit your Voter ID, Passport, Driving license, or NREGA Card in order to activate your Paytm Wallet
- After completing your full KYC verification which you can do either via Video KYC at the comfort of your home or by visiting the nearest KYC center, you can upgrade the monthly limit to INR 1 lakh
Benefits of Using Paytm Wallet
There are many advantages of using a Paytm Wallet. It not only makes online payments easier and faster but also safer. Here are some of the additional benefits of using a Paytm wallet-
- Paytm Wallet helps in making cashless and digital payments. It is safer as you do not pay through the bank directly. Also, the Paytm app is governed and is strictly in line with the RBI guidelines
- Payments through Paytm wallet are quick, convenient and quite simple for the users
- You get various cashback, offers, scratch cards, rewards, and discounts on making payments through your Paytm app
- Paytm ensures that you get easy refunds from partner applications in case of cancellation or return of orders or any other issue at the partner stores if the payment has been made using Paytm
- You can avail of the Paytm Postpaid facility if you have a good credit history with Paytm. Using Paytm Postpaid, you can get a credit of up to Rs. 60,000
- Linking your Paytm account with your FASTag account makes it further easier for you to travel through toll plazas across the country. With Paytm, you don’t need to recharge your FASTag every now and then. You simply need to add money to your Paytm wallet, and the amount will directly be deducted from your Paytm wallet as and when you cross a toll plaza
- Paytm Wallet is accepted at all QR Code payment gateways. Moreover, you can also use Paytm’s QR code scanner to scan the QR code of any app
- Paytm allows you to have sub-wallets like food wallets, or that of fuel and gifts wherein you can get exclusive offers. Paytm sub-wallets are widely accepted and offer a seamless payment experience. It can also help you save tax and has several benefits for the employers and the employees
- You can also set up the ‘Automatic Add Money‘ feature on your Paytm app, using which you can fix an amount (in figures such as Rs. 100, 200, 1000, 2000) for automatic addition to your Paytm wallet. This means that Paytm will automatically add your chosen amount to your Paytm wallet from your linked bank account as and when your wallet balance goes below a certain limit that you decide
- You can set payment reminders on Paytm wallet which ensure to keep you away from missing out on any bill payments
- Through the Paytm ‘Spend Analytics‘ feature, you can keep a track of your regular expenses as to where the money has been spent. This will also help you in planning your monthly budget and future expenses
- Similar to a bank statement, you can also request your Paytm wallet statement for the previous 1 month up to the previous 1 year or any other customized time period
- You can not only add money from your bank account to your wallet but also send money back to the bank or transfer it into another bank account. Note that Paytm involves absolutely no charges on either of these transfers
- Paytm wallet offers you ‘24×7 Help‘ access for resolving any issue that you might face. You can call or message on 0120-4456-456 for any query related to your linked bank account, Paytm wallet and other payments using your Paytm account. Alternatively, you can also go to your account by clicking on the profile picture on the top left side of the mobile application and scroll down to ’24×7 Help’ to get in touch with Paytm customer support
- The security password feature on the Paytm application makes your transactions safer, as the money in your wallet remains safe even if the mobile is misplaced or lost
How to Use Paytm Wallet?
Paytm Wallet is quite simple and convenient to use. All you need to do is register once, free of cost and you can log in anytime to use it. You can also stay logged in to the application on your mobile by securing it with a password, pin, or touch security/fingerprints.
Follow the below steps to create an account and make benefits of the Paytm wallet, without paying any additional charges –
- Download the Paytm app on your mobile phone and create an account by signing up using your email ID
- To access your Paytm account on the website, you need to click here on your laptop/computer, scan the visible QR code with your Paytm app on the phone and you will be able to access your profile on desktop
- Once your account is registered and verified through One Time Password (OTP), you can add money to your wallet through credit/debit cards, UPI, or net banking
- It is recommended to save your card details or bank UPI details on your Paytm account for easier, faster and safe transactions
Paytm is the first and the largest virtual wallet with millions of users who perform financial transactions daily. Online payments are done with 128-bit encryption SSL security to ensure security and safety of transactions made through Paytm. Also, you must note that CVV of your saved credit/debit cards is never stored on the app for consumer safety purposes.
In case you lose access to your account or lose your mobile, you can always call on Paytm customer care number 0120-4456-456 to get your account blocked. Alternatively, you can also reach out at firstname.lastname@example.org. Likewise, Paytm may block the account if it detects fraudulent activities and you may reach out to customer service for the resolution of the issue.