What is Paytm App, How Does it Work & How To Use It?

What is Paytm?

India’s largest mobile payments and commerce platform, owned by One97 Communications, Paytm helps you transfer money to anyone at zero cost. The app can be used for various purposes like making online recharges, paying utility bills, taxi fares, pharmacies, buying movie tickets, travel tickets and more. Since, demonetization, mobile apps like these have become massively popular. You can add up to Rs. 10,000 per month on Paytm and if your KYC is done, you can add up to Rs. 1 lakh in the Paytm wallet at any time. Paytm also ensures utmost safety; it is an RBI-approved wallet and does not store credit card data or passwords.

How Does Paytm work?

Paytm works in two ways, one is a wallet and the other is Paytm payments bank. This enables you to make or accept payments at any time without the use of liquid cash. If there’s an internet unavailability, you can also scan a QR code in order to make a payment.

Money stored in your Paytm wallet can also be sent to your bank account. In order to do this, you can follow the steps below:

  • Tap on the Passbook icon on your home screen
  • Select “Send Money to Bank”
  • Tap on the transfer button
  • Enter the amount, account holder’s name, account number and IFSC code
  • Press “Send”

Transferring money from Paytm can sometimes take up to 7 days to reflect in your account due to downtime or network fluctuation. In such cases when the bank is unable to settle the dues, the money is rolled back to one’s Paytm wallet along with a notification.

How To Use Paytm?

  • Download Paytm and register on the app
  • Login to Paytm using email id or mobile number
  • Add money to the Paytm Wallet using any of the following means – Debit Card, Credit Card, Net Banking, ATM, IMPS
  • To transfer money to someone, use the Pay or Send option
  • You can now send money to other bank accounts, or to someone else using Paytm by either scanning a QR code or using their registered phone number

If you are a Paytm user, you can gain more on this app by using Paytm Coupons


How does Paytm earn money?

It earns from the interest of Paytm’s wallet balance. If you’re a frequent Paytm user, you tend to add wallet balance before the actual need arise. The interest on your wallet balance is the actual earning of Paytm. In recent years, Paytm has given its payment gateway to many operators which are also a source of earning for Paytm.

Is it safe to use Paytm? 

Yes, Paytm is a secured payment platform and all its transactions are 128-bit encryption SSL security. Also, Paytm claims that it never stores your CVV number of credit or a debit card.

Is it safe to buy a mobile from Paytm? 

Yes, it is completely safe to buy a mobile from Paytm through COD or online payment.

How can I use Paytm for the first time? 

There are simple steps through which you can use Paytm for the first time. Just create an account in Paytm, add money in your wallet and shop on Paytm.

Surabhi Saxena
Surabhi Saxena

Combine the creativity and curiosity of a centaur and the dependability and attention to detail of a ram; Surabhi is what you get! She is a seasoned content marketer who has managed content for various domains. Apart from being super diligent at work, she is a pluviophile who loves unwinding with nature. You wouldn’t be entirely wrong if you call her Auguste Rodin’s muse – her friends and family bet that ‘The Thinker’ is inspired by her.

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