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Paytm is one of the fastest growing e-wallets that’s currently on the market. In India specifically it has seen fantastic levels of growth. This has seen it gather as many as 150 million users within the country. So, what exactly is Paytm, why is it so popular with Indian players and how do you use it?
Reading time: 4 minutes.
Paytm is an e-wallet that’s owned by One97 Communications. It allows users to make cash transfers quickly and easily with links to bank accounts and card accounts. This means that users can easily move money and around and make payments without any hassle. What’s also useful is that Paytm allows users to make a deposit at certain outlets using cash. So you can fund it in a variety of different ways. This makes it highly versatile and very easy to use.
It’s often used by players at online casinos, customers at online commerce sites and for people who want to pay their bills without any hassle. Another popular method of use is to top up mobile devices. As many Indian users have pay as you go mobile phone deals, Paytm makes it very easy to top up the device without any extra hassle.
The standard Paytm account allows users to make deposits and transfers of up to 10,000 INR each month. If you want to transfer higher amounts than this then you will need to go through the verification process in order to prove who you are. This means that users who want a simple way to transfer money don’t have to worry too much about going through a long winded process to start using it.
One of the main reasons that it’s so popular is because it is so easy to use. With the world requiring more and more ways to shop without leaving the house, the ability to pay for goods and services using this method is becoming even more important. Because it offers easy access to Indian users it means that it is a simple way for payments to be made. Paytm has managed to occupy an almost perfect space in the market. It provides a vital service and it is extremely easy to use.
Another reason that it’s become so popular is because India recently removed the 500 and 1,000 INR notes from circulation. It means that many people wanted to make payments of around this amount without having to carry higher volumes of cash. Paytm allows this because users are able to set out the level of payment using their app. It ensures that it’s extremely simple to start using it.
Paytm also has a number of partnerships with different firms. It means that the ability to pay using the platform is built into a lot of websites. So you can not only make a transfer very easily, but you can also make payments very quickly and easily through the site that you are using. This integration means that it provides huge levels of usefulness to Indian users.
Finally, the charges are relatively low. This means that, depending on how the platform is used, users won’t have to pay out big chunks of their money when making a payment. It makes it much cheaper for users to pay for items and gives them more money in their pocket when compared to other platforms that are on the market.
Your first step when using Paytm is to sign up. It’s a very simple process. All players need to do is use their mobile number and email to set up an account. Once this is done players can then fund the account. If the 10,000 INR per month account limit isn’t high enough then users can go through a verification process in order to give themselves access to higher limits. Once this has all been carried out you will be ready to begin using Paytm.
The first way to use it is for online payments. Here you will be able to send payments to a variety of different websites and places. You can quite easily transfer money to someone’s bank account or make a payment for an item on a website. This ensures that you can move your money around just how you want to. However, there are other ways to use the Paytm platform.
You can also use it in brick and mortar shops too. All it requires is for you to use the app on your mobile device. This will then create either a barcode or a QR code. This can then be scanned by the vendor, you have to enter a password and the payment will be made. It’s really as simple as that. This simplicity as well with variety of uses is all part of what has made Paytm so massively popular with users in India.
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