How to use PayTM App for making Payments

PayTM is an Android / iOS based app used for mobile recharges, making utility payments, send / receive money and buy products online through its e-commerce store and mobile app-commerce store.

PayTM provides:

It provides direct-to-customer transaction service.

It has a mobile wallet for registered users to store money that can be used for online payments. Users can connect their debit / credit card or use net banking to save money in their wallets. Users can also save their card details in PayTM app so that users don't have to everytime punch in their card details to make online payment. They just need to enter the CVV number and let PayTM do the transaction through their saved card.

How PayTM makes money:

PayTM earns through commissions from vendors for the mobile recharges done. It also earns commissions from merchants / sellers selling products on their web store. PayTM also earns interest on money stored by various users in virtual mobile wallet.

PayTM also gives cashbacks to its customers to build its user database. Customers can use these cashbacks to make online payments and save few bucks. PayTM do not allow user to redeem the cash backs into their bank accounts.

PayTM do not charge any fees from its customers.

PayTM Mobile Wallet: 

Good thing about using PayTM app is that you don't need to store money or maintain minimum wallet balance. When you plan to make payment using PayTM, at that very moment user can add funds in wallet and utilize the same fund to make payment for the online purchase.

App Usability:

Once installed using mobile number and email address, users can link their card and start making payments using PayTM using their CVV number. So it's super easy to use and user friendly.

Sunday Bazaar:

PayTM runs a Sunday Bazaar every Sunday where they offer products / deals at throw away prices on their commerce store.

Customer Care:

PayTM has a 24x7 customer service. You can reach out to them here care@paytm.com

URL: http://www.paytm.com/care/

Is PayTM Safe:

PayTM uses Norton Security for online transactions.

As far as mobile recharge is concerned, PayTM is pretty safe to use. But one cannot take gurantee for the products purchased from PayTM store.

Services Offered:

- Pay / Recharge mobile, landline, DTH, data card bills
- Make utility payments like water, electricity, gas
- Pay insurance fee
- School / college fee
- Buy products from PayTM store
- Book Movie tickets
- Book bus tickets
- Hotels Bookings
- Transfer money to family / friends
- Make online payment on respective stores using PayTM

Spend Limit:

PayTM to every new Registered user gives a spending limit of Rs. 10,000 per month. if users want to have no spend limit, they need to complete their KYC verification and submit the doc.

PayTM Signup / Registration:

1. Download the app from google playstore or Apple iOS AppStore
2. Install the app
3. Register using your mobile number and email address. Enter password.
4. Confirm your account registration using the OTP sent by PayTM.
5. User can now load money in his / her wallet and save cards under Profile and is good to make payments

Add Cards:

Users can go to My Profile > Saved Cards > Add a Card
PayTM will transfer 1 rupee from your card and load it in your mobile wallet to successfully register your card.

Add Money in Wallet:

Login into the app > Click on "Add Money" on homepage > Enter the amount > Click on "Add Money" > You can add money by either net banking or using credit / debit card.if you have already saved the card details, System will only ask you to enter the CVV number to add money to your wallet.

Pay / Send Money:

4 options:
- Scan the QR code and make payment by entering the amount
- Enter mobile number, amount and reason and make payment
- Show your QR code and ask for particular amount payment
- Directly send to Bank Account by adding account details

Similar Apps:

There are many other mobile apps available now on both Android and Apple AppStore providing mobile wallets and easy options to make online / offline payments. To name a few:

Mobikwik
PayU
FreeCharge
HDFC Payzapp
ICICI Pockets
Chillr
Oxigen
PhonePe (android app)

Benefit of Using PayTM:

With current government banning 500 / 1000 currency notes, it's a good opportunity to go cashless and make payment using PayTM app. You don't need to carry cash in your pocket to make payment. Just show the QR code and receive payment or make use of mobile number to make payments.

Use PayTM Offline:

You can make use of either OTP or bar code to make payments, send / receive money offline. The OTP and Bar code refreshes every 60 seconds. Either the merchant or the buyer needs to enter the OTP or scan the bar code to make payment without internet connectivity.