How To Use Paytm Effectively

 Today, the article is for those people who do not know how to use Paytm properly. In this article, I will explain you from the beginning in a very simple language about how to use Paytm properly. So, let’s get started.

What is Paytm?

Paytm is an Indian e-commerce digital payment system and is available in 11 different Indian languages. The owner and CEO of this privately held company is Vijay Shekhar Sharma. It was launched in August 2010. It is owned by One97 Communications.

The advantages of using Paytm is that you can easily do all types of secured online transaction such as mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies, and educational institutions with the Paytm QR code.

Categories Of Paytm

To know how to use Paytm, we have to understand the categories of Paytm in detail.Paytm is divided into three parts. These are :

1. Paytm Wallet: In the Paytm wallet, you can add money and you can use anywhere for payment transactions using its Qr code feature or using your mobile number.
   
2. Paytm Mall: The second one is Paytm Mall, using this feature you can do online shopping through Paytm.
   
3. Paytm Bank: The third one is Paytm Payment Bank, you can use this feature to open an account, and then you will get a debit card, checkbook, and FD.

You have got an overview of these features. Now we will see how to use these features of Paytm practically.

Before explaining these features I would like to let you know how to create a Paytm account step by step.

How To Create Paytm Account

First of all, download the Paytm application from the Google play store. When the installation is done, Paytm will ask permission to access photos, media, and files on your device. Click to allow to give full permission to Paytm.

Now follow the given below step to create a Paytm account.

STEP 1: If you have already created a Paytm account then you would need to click “Login to Paytm”. If you want to create a new account then click “Create a New Account”. 

STEP 2: Enter your permanent mobile number and then click “Proceed Securely”.  After that, you will receive an OTP to verify your number.

STEP 3: Enter your OTP and click “Proceed Securely”. Then Paytm will verify and will ask permission to “allow Paytm to make and manage phone calls?”. 

STEP 4: Click the” Allow” button. Now you have successfully created your Paytm account.  Congratulations!!

This is the step by step process of how to create Paytm account properly.Now let us know how to activate the Paytm Wallet.

How To Activate  Paytm Wallet 

Now, your account has been created in Paytm. Just click on the tree lines on the extreme top left and then click your “phone number”. Then you will be able to see your QR code. To use QR code you would need to activate your wallet. So click the “Activate Now” button. 

Then Paytm will redirect you to a page where it will ask you to submit any of the document proof as per RBI guidelines. Such as Pan Card, Passport, Voter ID, Driving Licence, or NREGA Job card.

Select any of your valid id mentioned above and insert its unique number.

For example, If I choose Voter Id card then I will have to enter the Voter ID card number with my full name mentioned in my Voter Id. Then at last click the tick mark to confirm and then click the “Submit” button.

Types OF KYC

Now your id is submitted to Paytm. Before going into details, let me tell you that there are two types of KYC in Paytm. 

The first one is “MINI KYC” which we have done right now and the second one is “FULL KYC”.

For full KYC you have to go to the Paytm store which you can find near your locality.

List of Things Which You can Do with your Paytm Wallet after mini KYC verification

• You can pay to merchants
• You can pay online on any app/website

List of Things Which You can’t Do with your Paytm Wallet after mini KYC verification

• You will not be to send money to your friends or family.
• You will not be able to transfer money to the bank.

So, in order to use the above two  features you will have to do “FULL KYC”. And then only you will be able to use full feature of Paytm wallet. So, click to “Upgrade Account & Unlock Benefits”

When you click “Upgrade Account & Unlock Benefits” , you will see that you have completed  minimum KYC and your Paytm Wallet limit is Rs 10,000. For full KYC click the button “complete your Full KYC & unlock benefits.

List Of Documents Required for Full KYC verification

Given below is the list of documents that you will need for full KYC.

1. PAN Card: In case, if you do not have a PAN card then you have to submit form 60 as per RBI guidelines.
2. Valid ID & Address Proof: List of documents which you can submit here are Passport/ Driving Licence/Voter ID/NREGA job card or Aadhar card

For full KYC verification, you will have to choose a verification method. so click to “At Your Nearby KYC Point”. Then you will get a list of KYC point and you have to visit any of the KYC points and you have to submit their IDs for completing your full KYC.

Note: If you do not do full KYC then your wallet limit will be Rs 10,000 and the wallet validity will be up to 1 year. If you complete the full KYC then your wallet limit will be Rs 1 lakh and your wallet validity will extend up to 10 years.

How To Use Paytm Wallet

To use Paytm Wallet, you would need to add money into your wallet account. So, let us see how you will add money to the Paytm wallet.

1. Click “Add Money”
2. Click “Paytm Wallet”
3. Enter the amount
4. Click “Proceed To Add Money”
5. Select any of the options such as “Credit Card”, “Net Banking”, “BHIM UPI” or “Debit Card” to add money into your Paytm wallet
6. To add money from your debit card, add your debit card number, CVV code, and expiration date and then click “Pay Securely”
7. Now you will get an OTP from your bank. Insert the OTP number and then click the “Submit” button.
8. Money will be finally added to your Paytm wallet
9. To check the balance on your Paytm Wallet, click “Passbook”
10. There is one more option on the menu called “Pay”.When you will click this option then you can use QR codes to scan to pay the payment of your bills.
11. If you want to send money through a mobile number, just enter the mobile number of the person who has Paytm account and then click “Proceed” to pay the payment
12. There are many options in Paytm. Such as you can recharge your mobile number, book a movie ticket, you can pay your electricity bill, DTH, shopping and many more.

These are the list of things you can do using Paytm wallet. I hope you have understood how to use Paytm Wallet. Now we will go into another section known as Paytm Shop.

How To use Paytm Shop/ Paytm Mall

Look below the footer of the Paytm on your smartphone and you will see an option called “SHOP”. When you will click the “SHOP”. Paytm Mall will open. In this section, you can shop at Paytm Mall.

A list of products that you can purchase in Paytm Mall is given below.

• Sunglasses
• Apparels (Men’s & women)
• Grocery items
• Electronics items
• Mobiles
• Toys for kids
• Bags & luggage
• Beauty & Grooming
• And many more items

Now we have understood how to use Paytm Mall. Now we will go into the last category called Paytm Bank.

Let get started again

How to Use Paytm Bank

1. Click to Paytm Bank and then set your Paytm Payments Bank passcode
2. After setting the passcode you will get an option to “Add a nominee for your Bank Account”
3. If you want to add right now you can add it or you can add it later also. Click the tick tick marks and then click “Proceed” to continue.
4. Wait for some time. To open an account in Paytm Bank, you have to complete your full KYC.
5. When your KYC is completed then your Paytm Bank account will be opened automatically.
6. Your mobile number will be your account number. Here you will get a Debit card also.

How To Complete KYC in Paytm

 

Have you done full or mini KYC (Know Your Customer) in Paytm?

Are you still searching for the best guide where you can get all the relevant and updated information about how to complete KYC in Paytm?

Then let me assure you that you are in the right place!

In this article, I will provide step by step details about how to complete KYC in Paytm which you will not get anywhere on the web.

So bare with me for a few minutes and learn the tips and tricks about How to complete your KYC in Paytm.

Before going into details about how to complete KYC in Paytm, it is important for you to understand the difference between Full KYC and minimum KYC and why KYC is needed.

So let us understand the concept clearly.

Why Do We Need to Complete KYC 

Paytm wallet which is issued by the Paytm is governed by RBI guidelines. According to these guidelines of RBI, it is mandatory to do minimum KYC which is valid for only 24 months. So minimum KYC is mandated for Paytm shopping, mobile recharges, etc.

But In order to avail of the full services such as Paytm wallet and Paytm Payment Bank beyond 24 months, full KYC is a must for all the Paytm users.

To complete full KYC, click Here.

Difference Between Paytm Full KYC and Minimum KYC

 Any person who has signed to Paytm with their registered mobile number and has not submitted any valid document to the Paytm to upgrade their wallet is known as Non-Kyc Customer. Non KYC customers need to do minimum KYC to enjoy the basic features of Paytm.

These types of customers come under the category of minimum KYC.

What a Non KYC user cannot do

• As per the guidelines by Reserve Bank Of India (RBI), non KYC users can only add up to Rs 20,000/- in a month.
  
  
• A non KYC customer can only spend a limited amount of money.
  
  
• Moreover, there may be a delay in getting cashback, if anyone exceeds the monthly limit of Rs 20,000/-
  
  
• Will be limited only to online payment. Such as apps/websites.
  
  
• Cannot send money to a friend’s or family’s Paytm wallet.
  
  
• Will not be able to transfer money to a bank.
  
  
• Cannot keep the balance of Rs 1 Lakhs.
  
  
• Cannot open Paytm Payment Bank or saving accounts.

Who are KYC Users In Paytm

When a Non KYC user upgrades his/her Paytm account by providing their valid identity proof they become verified users in Paytm.

What KYC verified Customer Can Do Through Paytm:

Verified customers come under the category of full KYC customers. List of things a  KYC varied user can do are:

• There is no spending limit.
  
  
• Can get special offers such as cashback.
  
  
• Eligible to open the Paytm Payments Bank account.
  
  
• Can keep the balance up to Rs one lakh.
  
  
• Will be able to transfer money from the wallet to their bank.
  
  
• Can easily send money to their friends and family.

I hope you have understood the basic difference between a non KYC user and a KYC verified user in Paytm and also what is minimum KYC and full KYC. Now we will know how you can become a Paytm Kyc customer.

How To Complete KYC In Paytm?

Given below is the list of details that you have to follow in order to become a Paytm KYC customer. It means full KYC in Paytm. Follow the given below steps and you will be able to know how to complete KYC in Paytm.

1. STEP 1: Get your KYC (Know your customer) done with your valid identity and address proof.
   
   
2. STEP 2: The required documents for identity and address proof are Passport, PAN card, Voter Id card, driving license, aadhar card, NREGA job card with valid photo. Any of the given documents can be submitted For Paytm KYC.
   
   
3. STEP 3: For Paytm, savings account or Paytm Wallet initial deposit of Rs 200 is mandatory at the time of KYC or saving account opening.
   
   
4. STEP 4: You can start the verification process in two ways. These are:
   
   
   1. Request a visit from Paytm agent at your home or office.
      
   2. Verify documents at your nearest Paytm KYC center. Follow the link https://bit.ly/2RH0wE6  to start your KYC verification for Paytm.
         

How much Time Does Paytm take to Complete verification

Now, you must be wondering about how much does it take time to complete your KYC. Right?

Let me tell you if you do through the biometric route, then your KYC will be done instantly.

If you are verifying through a non-biometric route, it will take up to 2 working days to verify your documents and complete your KYC.