Recently, Paytm has launched the latest feature where one can use Paytm wallet to make payment at a merchant point of sale (PoS). This feature will accept payments made through credit card or debit card payments.
Paytm is a virtual wallet where individuals can store money online, which can be used instead of debit or credit or net banking.
Now individuals can use the Paytm app to make payments using their debit card and credit card. A merchant who is having Paytm app, can receive payments through debit card or credit card details.
Merchants can follow simple steps to accept payments on paytm:
1. Download Paytm from Google play store
2. Sign up if you are new to Paytm
3. Click Accept Payment.
4. Select "Accept Debit or Credit Card" option
5. Enter amount you want toreceive
6. Click proceed
7. The merchant should make note of debit/credit card number, expiry date, and CVV
8. Proceed to pay
9. The customer has to enter an OTP.
Once the customer enters OTP received on his mobile, the money will be added to merchant's paytm wallet. Paytm recently announced that its customers will now be able to transfer money from Paytm to their bank account at 0% fee till 31st December 2016.