Most of us heard about Paytm as it got the title sponsorship rights from Board of Control for Cricket in India (BCCI) for 4 years starting from August 2015 for all international and domestic matches and also due to Payment bank license which it’s founder Mr. Vijay Shekhar Sharma received from Reserve Bank of India in 2015.
Related Post: Formation of Payment Banks in India
The first two questions come in your mind are
- What is paytm?
- Why you will create Paytm Wallet?
What is Paytm?
Paytm is an Indian ecommerce website, launched in 2010. Paytm is owned by One97 Communications Ltd. In its early days, paytm was only focusing on mobile and DTH recharging. Then paytm also started payment facilities for electricity bills, gas bills, telephone bills etc.
In 2014 paytm became a ecommecre market place and started selling many products like other ecommerce websites (flipkart, amazon, snapdeal).
In 2014 it launched mobile payment service as paytm wallet.
Founder: Vijay Shekhar Sharma
Major Investors (Paytm flagship brand of One97 Com): Alibaba Group, Ratan Tata, Ant Financial Services Group, SAIF Partners, Sapphire Ventures, Saama Capital II
Paytm Business: Recharges, Bill Payments, Market Place, Wallet, Buy n Sell
Why you will create Paytm Wallet?
- No need to carry cash for your spending
- Exciting offers (discount/cashback etc)
- Safe transaction
- Easy top up facility from Bank of Maharastra ATM
- Easy Paytm Wallet up-gradation (Increase your spending limit to 1 lac)
- Paytm on your Apple watch
How to create paytm wallet account?
Step3: Enter OTP (One Time Password) what is sent to your mobile number, your name, last name and gender
Click on “Create your Paytm Wallet“. Now you are done.
Step4: Now you can add money to your Paytm Wallet.
Step5: You can select any payment method listed bellow-
Debit Card, Credit Card, Net Banking, ATM, IMPS
For any further transaction, you just need to logIn with your mobile number or email id and password and OTP
So Paytm Wallet is very useful and effective. You do not need to carry cash every time and parents can fill their children’s Paytm-wallet instead of giving cash for some certain expenses what they can do with their Paytm-wallet. Paytm is also improving its services continuously with many new features, offers and technology.