What Is Paytm Wallet? How To Use It?

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Off late we have been hearing about the paytm cash, paytm coupons and easy payment through paytm.

Paytm is a mobile e-commerce company which has carved its name within short span of time. Initially, the company provided simple service of mobile recharge and utility bill payments and today it offers a full marketplace to consumers on its mobile apps.

What Is Paytm Wallet? How To Use It?

Paytm acts as a virtual wallet where you can store money online and can be used instead of debit/credit or net banking. However, to transfer the amount to the wallet, you may need any of them.

Paytm app is best for individuals who find it difficult to make payments of DTH, Mobile recharge, or send money to friends, pay for purchases across various brands and services like Uber, Makemytrip, Bookmyshow etc.

The Reserve Bank of India has set a basic monthly limit. Individuals cannot keep or spend more than Rs 10,000 in your wallet in a month. While, if anyone looking to upgrade the limit to Rs 1 Lakh, you can get the account verified using the KYC process.

How to use Paytm?

All you have to do is register & start using it.
1. Register & verify account
2. Add money to Paytm Wallet
3. Pay using Paytm Wallet

The stored money in your virtual wallet on Paytm is called as Paytm Cash. The cash can be used to make mobile, DTH, data card or smart tag recharge or bill payments. The Paytm Cash can be used for all the transactions on all paytm apps and mobile site as well.

When will a customer get a Cashback?

After a successful transaction, the cash back takes 24 hrs to be credited to your Paytm Wallet. In case of shopping, cashback will be credited into your Paytm Wallet within 24 hrs of your item being shipped. In case of EMI, Cashback gets credited once the return period gets over

How can I transfer money from paytm wallet to bank account?

This facility is available on Paytm Wallet app only. Please install the wallet

Once you log in, you just have to select "Bank account" option in the Send Money tab, enter requisite details and click on Send money. The money will be transferred. Paytm will charge a convenience/processing fee of 4% for transferring money to bank account.

Offers and Benefits

Paytm offers many exciting coupons that give you great discounts on a wide range of sites and products. On every, successful recharge, coupons are delivered on mail Ids.

Customers to be benefited are the ones who have a Promo code and can avail discounts by entering the code on the payment mode screen. 

Paytm online transactions are considered safe as millions of users transact on Paytm's secure payment platform every month. Mobile app is free and can be downloaded here.


Read more about: mobile banking, paytm wallet
Story first published: Tuesday, September 15, 2015, 10:55 [IST]
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