How Paytm Wallet Works

How Paytm Wallet Works

By: abhay12

How Does Paytm Wallet works: PayTM is one of the most famous and of the leading mobile commerce platform in India. It is also most widely used as online money transfer app in comparison of Freecharge, and Mobikwik. The company was started in December 2010 by Vijay Shekhar Sharma who is the founder and CEO of the company. PayTm has a special feature which is named as PayTm Wallet which acts pretty much same as the wallet in our pocket. For that users just have to link their bank account with the Paytm Wallet. It can be used to make payment, pay bills, buy online, pay for movie tickets, and make payments of cabs and much more. So, here I will guide you with all the information regarding How Paytm Wallet Works.

Also check: Mobikwik to paytm balance transfer

What is Paytm Wallet?

It’s just a virtual wallet which acts just like your regular wallet/purse. The only difference is that you don’t have to carry weight wth you always to make payments. As we have stated above that Paytm Wallet app is a digital payment instrument by which you can transfer money from your bank account or credit card directly to do the online transactions on the go.

How does it work?

To use PayTm Wallet, users will have to set up their account and for that, they will have to use their mobile number and an email id. Users are allowed to add up to Rs. 10,000 in their wallet in one month although the limit can be increased by filling up the KYC (Know Your Customer) form. By this users will be allowed to transfer Rs 1 Lakh at every month.

How to use Paytm Wallet

How to use Paytm Wallet?

In order to use the Paytm Wallet users will need to register and verify their account on the PayTm Wallet App. By which the users can use it various purpose like making payments and transactions etc. To know the whole process follow the steps below:

  • Step 1: Download the Paytm App from Google Store if you have android or Apple Store if you have iOs device & open the app.
  • Step 2: Set up your account using your email id and mobile number and follow the next procedures as shown on the screen. After doing that you’ll receive an OTP enter it.
  • Step 3: Now Go to the cart which is on the on the top right corner of the screen and Tap on the Wallet button to confirm that your account is verified ort not. If there is a blue tick under your name then your account is verified.
  • Step 4: Now add some money to your wallet using a credit card, net banking or debit card.
  • Step 5: To transfer or to make any payment click on ‘Pay or Send’ option.

Well, this is how the Paytm wallet works and the steps to use it.

 

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