After the demonetization there were a lot of questions in people`s mind. Some of them were how to manage the cash and make the bill payments and how the lifestyle may be affected. When demonetization took place many people first thought of getting rid of 500 & 1000 rupee notes which they had. That’s fine that you could had used them in hospitals and Petrol stations till 24th November.
Have you ever tried using cashless transactions in your life? I know many of you might have tried paying by debit/credit card and the payments are done by using the ATM PIN while doing the transaction. What if I tell you that there is more simpler, quicker and hassle free way to make payments by using Paytm. Many of you might have used Paytm to recharge your smartphone and pay bills. Actually you can do much more with it. It acts like an eWallet which can be used extensively for various purposes.
What is an eWallet?
An eWallet is a virtual wallet where in you can keep your money securely and use it digitally across many things. This is a digital money like its in your bank but it is easier to send and receive money with an eWallet. You can add funds in an eWallet using your internet banking, debit/credit card and can use it extensively for many purposes.
Cashless transactions using Paytm
What is Paytm?
Well Paytm acts like your friend which is an online platform (app & website), where in you can use it like an eWallet. You can Add Money, Send Money and even Pay Money with ease. You can do Online Mobile Recharge using Paytm and use it to send payments across the other Paytm users and various merchants. It is one of the fastest Online Payments and Recharge service in India.
If you like online shopping then Paytm also acts like an ecommerce platform which showcases various products from many categories for your needs. It provides many cashbacks and exclusive discounts to its users. You should check out some of their lucrative deals for sure.
How to Download the App?
If you are an Android smartphone user then just go to the Google Play Store and search for “Paytm” and then click on Paytm App and click on “Install” button. Within seconds the app will be installed on your smartphone. Similarly if you are an iPhone user then you can go to the Apple Store and search for “Paytm”, and install the app. Once you install the app it will ask you your mobile number and within seconds you can register with ease for free.
How to Register at Paytm?
Click on the Sign Up option. There you will have to full up your mobile number, E-mail id(optional) & desired Paytm password and then click on “Create your Paytm wallet”. Thats it, you receive an OTP(One Time Password) to verify that you are the owner of the mobile number. Once you receive the OTP, put in the OTP and your Paytm wallet is created!
How to Add Money/Send Money/Pay Money?
If you want to add money to your Paytm wallet then you can do it easily. When you open the Paytm App you can see the “Add Money” option. Click on it and then enter the amount and click on “Add Money” button. Then you will be asked for the payment option. You can add money to the wallet using Internet Banking/Credit Card/Debit Card/ATM card and click on “Pay Now”. Once the payment is done you can see a successful message in your screen.
Sending Money to anyone is a quicker process. From the app click on “Pay or Send” option. Then you can see options like: Scan Code, Mobile No., Show Code, Send to Bank. If you know the mobile number of the person to whom you want to send the money then hit that option, enter his/her mobile number, enter the amount and click on “Send Money”. Then you get a successful message. Money sent!
Paying money to anyone is also easily possible. You can also choose the QR code option if you want to scan the QR code of a merchant or any of your friend. So just hit that option, scan the QR code then the app shows you the details of that person, enter the amount and hit on “Pay”, its that simple.
What are the different ways in which the users can use Paytm in their daily life?
Just after the demonetization I had a very few 100 notes to spend but I have the paytm wallet which came to my rescue. As soon as I got to know that there will be a problem of people not giving change to currency notes, I decided to use Paytm to the max.
The most important aspect of Paytm is that it can be linked to the Uber app. As I had few meetings to attend and I had made some travel plans, traveling with Uber and paying by Paytm was the best way to make cashless transactions.
Another time I was amazed to see that our nearby Xerox Shop had showed Paytm QR code which means I was able to pay using my Paytm. I had to pay an amount of Rs.37 to him. So instead of me giving him a rare Rs 100 note and expecting Rs.63 back(which he may not have), I just opened my Paytm App. Clicked on send money, scanned his QR code. Immediately the merchant’s name appeared.
I just had to insert the amount which I wanted to pay him. I clicked send and within few seconds the amount was deducted from my wallet and credited to him. Immediately he received an sms and he said thank you. This latest technology and its easy use is the present and future my friends.
I was easily able to do cashless transactions using Paytm. So I made payments at many places including small restaurants, Uber, stationery & grocery stores, etc.
How to return money to your bank account?
The best part of using Paytm is that if you want to use the money from your wallet back to your bank account, then you can do it too. So there is no reason of insecurity, your money stays with you, you can pull back money into your bank account easily whenever needed. From the app, just click on “Pay or Send”, then select “Send to Bank”, put in your bank details and click on “Send”. There you go, money goes to your bank account. In fact you can send money to anyone`s bank account with ease. Also when you add money from your bank to wallet there is a button named “Return”, you can find it in the Passbook.
Summing it Up
After demonetization, it is high time to go cashless and with my experience Paytm is a best way to do cashless transaction with ease and simplicity. Actually not only mobile recharge you can make a lot of bill payments and bookings. These include Movie bookings, travel bookings ands ofcourse shopping various consumer products online. All this can be done with your Paytm wallet. Go cashless and have secure transactions.
Nikhil Narkhede
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