SchoolChalao

  • Helpline: +91-8058868746
  • Mail us: help@schoolchalao.com
  • LOGIN | REGISTER
    Tutorial Library

Learning Point

Paytm App

Previous Next

What is Paytm?

Launched in August 2010. Vijay Shekhar Sharma is CEO.

Paytm, owned by One97 Communications, is a digital payments platform that allows you to transfer cash into the integrated wallet via online banking, debit cards, and credit cards, or even by depositing cash via select banks and partners. Using the money in the Paytm wallet, you can pay for a number of goods without using cash.

Among the transactions you can make on Paytm are recharges for mobile phones, metro cards, DTH cable, and data cards, etc., as well as post-paid payments for mobile phones, landline/ broadband, electricity, water and gas bills, etc. You can also book tickets for buses, trains, flights, movies, hotel rooms, etc. and pay for Uber cab rides using the platform. Additionally, you can buy goods on the company’s e-commerce platform using the wallet, and even make offline payments at over 8 lakh merchants, Paytm claims.

The digital payment instrument where you can transfer money from your bank account or credit card to use for transactions on the platform. You need to set up an account using your mobile phone number and email ID to setup a Paytm account and transfer cash to the wallet. You can add up to Rs. 10,000 in a month in the Wallet; if you want to increase the monthly limit, then you can get the KYC (Know Your Customer) processor done. With this, you can have up to Rs. 1 lakh in the Paytm Wallet at any point of time.

 

How to download and install Paytm app?

1. Download Paytm app in your mobile phone.

2. New install and open the app.

3. Open app and set your PIN for the Paytm app

4. Set up a Paytm account using your mobile number and email ID.

6. Add some money to your Paytm Wallet using net banking, debit card, or credit card.

7. To transfer money to someone else, select the 'Pay or Send' option.

 

                                                               school-chalao-paytm1 image

 

How to transfer money from Paytm to any other banh account using Paytm app?

1. Open the Paytm app on your smartphone and tap the Passbook icon.

2. Here, select the Send Money to Bank option.

3. Tap on Transfer.

4. Enter the amount, account holder’s name, bank account number, and IFSC code.

5. Hit the Send button.

 

                                                            school-chalao-paytm2 image

 

How to use Paytm for offline payment?

You can make cash-less payments using Paytm Wallet even without internet connectivity. If a retailer accepts Paytm as a mode of payment, you can either use QR codes or bar codes, along with a One-Time Password (OTP) to pay them. To do this, you need to open the app, select the ‘Pay or Send’ option, and choose between QR code and bar codes (provided in two separate tabs). Just scan the code and enter the OTP to authorize the payment offline. This feature can be especially useful right now, when the whole country is facing a cash crunch and internet connectivity is still not good enough to facilitate online transactions.

 

Very Useful (0)

Useful (0)

Not Useful (0)