USE OF PAYTM FOR CASHLESS TRANSACTIONS

By

Abhijeet Balasaheb Naik Deputy Collector

CPTP-4 (2017)

Yashada, Pune

Why Cashless Transactions?

1) Money can be traced to the last penny

2) Reduction in generation and use of Black Money

3) Safety of money

4) Systematic record of transactions

1) Using Debit Cards

2) Using Credit Cards

3) Using Internet Banking

4) Using Mobile Banking

5) Mobile Wallets

Types of Cashless Transactions

Paytm stands for “Pay Through Mobile”

Paytm Wallet is a digital wallet or a mobile wallet, designed to make and receive payments digitally

Brief History: Started by Vijay Shekhar Sharma of

One97 Communication Limited in 2010

Objectives: 1) To get rid of cash transactions

2) To make/receive payments on the go

What is Paytm Wallet?

Simple and user-friendly

Highly secure– use 128-bit encryption technology

Cashback offers

discounts

Extraordinary offers to win gadgets and other products

Why Paytm Wallet?

Services Details

Recharge Data Cards, DTH, Cable, Metro Cards, Prepaid Mobile Connections

Bill Payments Electricity, Water, Gas, Broadband, Landline, Post-Paid Mobile Connections

Ticket Booking Hotel Rooms, Movies, Flights, Trains Tickets, Bus Tickets

e-Commerce Purchase of products like electronics, home appliances, fashionware

Offline Payments Useful for merchants

Money Transfer To Bank Account or Paytm Account

Cashless Rides Uber, Ola

Uses of Paytm

Stages Involved in Registration

Step 1 : Download Paytm App

Step 2 : Registration using Mobile Number and Email

by clicking ‘sing up’. Password selection.

Step 3 : Verification using OTP Code

Step 4 : KYC Documents– Physical and e-KYC

Registering with Paytm

Modes of Adding Money

Using Internet Banking

Using Debit Cards

Using Credit Cards

Using Cash Deposits through Various Partners and Selected Banks

Adding Money to Paytm Wallet

Step 1 : ‘Log In’ using Password

Step 2 : Click on ‘Add Money’ and enter amount. Then

click on ‘Continue’

Step 3 : Select ‘Source of Money’ like internet banking, debit

cards, credit card etc and add details. It take us to

secured payment page depending on source. Then

follow the instructions

Adding Money to Paytm

Step 1 : Open Paytm Wallet using Mobile App

Step 2 : Click on ‘Pay’ or ‘Send’ icon

Step 3 : Click on ‘Mobile Number’ and enter mobile number of beneficiary. It can be manual or from Address Book

Step 4 : Enter the ‘Amount’ to be transferred

Step 5 : details of payment (optional)

Step 6 : Click on ‘Send’ button. Money will be sent.

In case of insufficient balance, Paytm give option to ‘Add’ money.

Sending Money using Paytm to another Paytm

Step 1 : Open Paytm Wallet using Mobile App

Step 2 : Click on ‘Pay’ or ‘Send’ icon

Step 3 : Click on ‘Send to Bank’. New window opens

Step 4 : Enter bank account number, IFS Code and

other details of beneficiary.

Step 4 : Enter the ‘Amount’ to be transferred

Step 5 : details of payment (optional)

Step 6 : Click on ‘Send’ button. Money will be sent.

In case of insufficient balance, Paytm give option to ‘Add’ money.

Transferring Money using Paytm to Bank Account

Step 1 : Click on ‘Recharge or Pay Bills for’ and select ‘Mobile Prepaid’

Step 2 : Enter the mobile number to be recharged

Step 3 : Select ‘Mobile Operator’ like Airtel, Vodafone

Step 4 : Enter the recharge amount

Step 5 : Click on ‘Proceed to Recharge’

Step 6 : Read ‘Payment Success’ message

Recharging Mobile using Paytm

Thank You