What is Paytm and What are its benefits?

Nowadays, Paytm is a lot more trending as most of the crowd is using it and doing every type of transaction whether it be adding money or transferring it. Government is too encouraging for having cashless transactions since demonetization was done in late 2016. To have a seamless transaction and to avoid long queue around the banks and ATMs it’s the best alternative. Since then, it has become much more popular. Today we will be mastering over the use of Paytm.

What is Paytm?

It’s not just only the wallet to load money but it’s also Indian e-commerce for online shopping. Its parent company is One97 and was established in 2007 whereas it’s head office is in Noida. Initially, it had mobile recharge and DTH recharge services since it started becoming popular it started adding more features and services to it. Currently, it’s a payments bank more than a recharge medium.

In 2012, it entered into the e-commerce market just like Amazon, Flipkart, Snapdeal, and started providing services very similar to them. Later on, it also started providing the service of booking tickets whether it be movie tickets, flight, bus, train, or any travel tickets.

Founder and CEO of the Paytm

The founder of the Paytm is Vijay Shekhar Sharma, who is a billionaire businessman. He made his dream of mobile payments into reality. He was listed as India’s youngest billionaire in 2017 with total assets of $2.1 billion.

What is Paytm wallet?

It’s a digital wallet where we load an amount of money for the transactions. It’s also called an E-wallet. It’s the process of making money digital and saving it for the use. We can use this loaded money at shops, groceries, malls, etc in mostly all the places for mostly all the transactions.

How to use Paytm?

Today, everyone knows how to use Paytm as they have been in such surroundings. Since, new users or the people who never had the need but now think of learning it, might be new for them. So it’s easy and let’s begin.

Keep your data/net connection on your smartphone and follow the steps given below:

  • Open the PlayStore and search Paytm on it.
  • Make sure the one which is displayed is genuine and developed by One97 communications.
  • Install the app and open it.
  • Click the toggle button to open the side menu from the left side denoted as 3 horizontal lines.
  • Click to create an account by entering your mobile number and password with 6 characters at least.
  • Enter your email id if you wish to have the newsletter.
  • Click create an account and enter the OTP which will arrive soon in few seconds to verify that it’s you and it’s your number and account.
  • And your account is created.

By registering our mobile number and creating accounts, we are eligible and ready to send and receive money to our contacts whether it be our friends, relatives, or colleagues. This transaction can take place with the help of the internet and contact number.

We can shop online too just like Flipkart and Amazon. We get various products and mostly all the things with great offers. Paytm Bank app can also be a bank as on applying for an account we can create a savings account in it and can have it’s debit card too. This app can also recharge your mobile with many different operators in the market. It can also pay bills of the essential services you consume just like electricity, gas, water supply, etc.

How to add money to Paytm?

We can add money to the wallet as we have seen and transfer money to the other bank too. Going to the option of adding money to the wallet lets you add money to the wallet from various methods like cards, API, and other modes.

What is Paytm KYC ?

As a government it mandatory for all the account holders related to the transactions regarding money to have their KYC done. Here in this app, KYC is done via any identity card provided by the government of India. Once the KYC is done, it lets you do a little more amounted transaction. KYC stands for Know Your Customer if in case you might be wondering.

Conclusion

Here, we’ve come across using Paytm. It’s uses, benefits, and how-to topics. Since everything is covered. It lets you stay confident and practice on your own. For such topics keep visiting our Blog.

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