What is Paytm?
Paytm is an Indian e-commerce and online payment company, which has made its mark in a very short time. This company was started in August 2010, and its founder and CEO is Vijay Shekhar Sharma. The aim of Paytm is to make online payments simple, fast and secure for people.
Let’s know in detail how Paytm works and what its benefits are.
Initiation and development of Paytm
Initially Paytm was a simple platform only for mobile recharge and payment of utility bills. But today it has become a full-fledged marketplace, where you can avail a variety of services.
Paytm has also developed itself as a virtual wallet, allowing you to store money online and use it like a debit card or credit card.
What can you do with Paytm?
Paytm is a platform through which you can avail a variety of services, such as:
1. Mobile Recharge:
Recharge for all networks.
2. DTH Recharge:
Recharge your DTH from the comfort of your home.
3. Utility Bill Payment:
Pay electricity, water and gas bills.
4. Ticket Booking:
Book movie, train and flight tickets.
5. Shopping:
Buy fashion, electronics and other products on Paytm.
6. Money Transfer:
Send money to a bank account or another Paytm wallet.
7. Paytm Wallet:
You’re Digital Bank. Paytm wallet is a virtual wallet in which you can store money. You can use it for online payments and shopping.
How to add money?
You can add money to Paytm wallet using your debit card, credit card or net banking.
1. Monthly Limit:
As per the rules of Reserve Bank of India (RBI), a Paytm user can keep up to ₹20,000 in his wallet.
2. KYC Update:
If you want to increase your wallet limit to ₹1, 00,000, you have to update your KYC (Know Your Customer).
Advantages of Paytm
1. Fast and easy payment:
From mobile recharge to utility bill payment, everything is done in a few seconds.
2. Safe and reliable:
Paytm’s security features keep your data and money safe.
3. Cashback and offers:
Get great cashback and discount offers on every payment.
4. All-in-one platform:
Payment, shopping and money transfer facility at one place.
5. Use anywhere:
Paytm wallet can be used at online stores, retail shops and merchants.
Why is Paytm KYC necessary?
KYC stands for “Know Your Customer,” which is a process where you have to verify your identity and address.
Benefits of doing KYC:
- Wallet limit increases to ₹1,00,000.
- You can transfer money to the bank.
- You can use extra features
How to do KYC?
- Visit your nearest Paytm KYC centre.
- Carry your Aadhaar card, PAN card or any other identity proof.
- Complete the process and KYC will be updated.
Paytm: Symbol of digital revolution in India
Paytm has made the lives of millions of people easier by promoting digital payments in India. The dream of a cashless India is now becoming a reality, and Paytm’s contribution in this is huge.
Conclusion
Paytm has not only made digital payments easier, but it has also emerged as a reliable and convenient platform. If you are not using Paytm yet, download it immediately and avail its benefits.
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