Quick Answer: What Is Paytm In Simple Words?

Does Paytm need bank account?


You are not required to open an account with Paytm Payments Bank to use the wallet..

What is the meaning of Paytm?

Pay through MobilePaytm stands for Pay through Mobile. It is an e-commerce shopping website based in Noida, Uttar Pradesh, India. It started with mobile recharge and utility bill payments and today it has become a full marketplace and has around 100 million registered users.

What is Paytm and its benefits?

Along with cards, Paytm offers saving details for wallet, postpaid, saved UPIs, merchant gift vouchers, Paytm Payments Bank details. Saved cards or other payment instruments increase the success rate of the transaction by 6-8 percent.

What is required for Paytm?

As per RBI guidelines, you to need do complete Minimum KYC to activate your wallet. In order to complete Minimum KYC you need to provide your Name and Unique identification number of any of Passport, Voter ID, Driving License or NREGA Job Card. As per RBI guidelines, Minimum KYC is valid for 24 months only.

What do you know about Paytm?

Paytm is India’s largest mobile payments and commerce platform. We help you transfer money instantly to anyone at zero cost using the Paytm Wallet. … You could also use it to pay for online recharges, utility bill payments, book movie or travel tickets among other things on the Paytm app or website.

How can I use Paytm in my phone?

Pre-requisites:Download and Install the app from your respective app store. o For Android users: Open Google Play Store and search for the Paytm app and tap on Install. … A working internet connection is a must.Create a login ID and password using your phone number.After you have downloaded and installed the app.