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eWallets : Helping You Go Cashless & Promoting Digital India

We had our generation’s historic day! November 8, 2016, the day when 1000 and 500 denomination rupee notes got demonetized. This decision could lead to good or bad results in future, but as of today, it is little difficult for a common man to cope up with the shortage of cash in his hand.

If we ponder a little bit, we already had platforms in place to help us in such situations and manage money digitally, some people were using it while some had their inhibitions. We are referring to e-wallets, a.k.a digital wallets which are our true saviors and can be used to transfer money, make online purchases and even split bills.

After demonetization, digital wallet services got a wider acceptance and people are migrating to them with open arms as they have the largest reach with a presence in local shops as well. A giant in this industry is Paytm acronym for “Pay through mobile”.  Launched in 2010, Paytm is India’s largest mobile payment service platform with over 100 million wallets and 10 million app downloads.

Let us go through some basic steps on how to download and use the app, so that you can say goodbye to your cash crunch.

Download Paytm & Create Account

Download Paytm App from App Stores available for iOS, Android & Windows. Next, create an account with Paytm to start sending and receiving money.

Add Money

Don't panic if you don’t have cash, because your mobile does. You can easily add money from your bank account to Patym account.
  1. Go to Home screen, tap on “Add Money”
  2. Enter amount to be added and tap on “Add Money”
  3. Choose your payment option from various payments modes, Debit card, Credit Card, ATM Card, Net Banking, IMPS.
  4. Enter relevant details and tap on “Pay Now”.
  5. A “Success” message will be displayed once the money is added successfully.

Send Money

This option comes in handy to pay for local shops, cab / auto drivers or friends.
  1. On Paytm Home screen tap on “Pay or Send” Option.
  2. Tap on “Mobile Number”
  3. Provide details Phone number, amount and comments.
  4. Tap on “Send Money” to complete the transaction.
  5. A success message will be displayed on a successful transaction. Moreover, the beneficiary will receive a message for transfer of money to his account.

You can scan QR codes available with the merchant to quickly send money on the go.

Deposit Money to your Bank Account

Not only you can pay money from your Paytm wallet but you can deposit the money received in the digital wallet to your bank account. Again, on Paytm home page you will get an option of Bank Account, fill in the required details like bank account number, account holder name, IFSC code and you are good to transfer any amount between 500 and 5000.

Using Paytm in Daily Life

You can use the app for recharges, paying at merchants, bills & fees, book trains, hotels, flight, movie tickets, shopping and for many other things. Also, Paytm converts shoppers to smart shoppers by providing various discount coupons. You can make transactions at the local store or even Paytm to the auto you just took a ride on.

So, don’t get crunched by the cash crunch crises, just “Paytm Karo!”