Is it safe to use Paytm wallet?

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Is it safe to use Paytm wallet?

Paytm wallet is a secure and RBI-approved digital/mobile wallet that you can use for multiple purposes. It is like digital cash that you can utilize for any kind of consumer payment. You can add money to the Paytm wallet through UPI, internet banking, or credit/debit cards.

Is linking your bank account with Paytm safe?

Your MPIN is a 4 or 6 digit passcode, stored securely with NPCI (National Payments Corporation of India). Your account details and MPIN is safe with NPCI and is authenticated with secure servers whenever money is deducted from your account using Paytm UPI. Transaction processed in real-time.

What is the disadvantage of paytm?

1. Customer support is not up to the expectation 2. Its most felxiblewith high-speed mobile internet connection 3. There are certain charges applicable to transfer money form paytm wallet to another account 4.

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Is paytm approved by RBI?

Paytm Payments Bank gets RBI approval to operate as scheduled bank. Paytm Payments Bank, an associate entity of Paytm, on Thursday said it has received the banking regulator’s approval to operate as a scheduled payments bank, helping it to expand its financial services operations.

What are the drawbacks of accepting Paytm Money?

The only drawback of accepting Paytm money is that it takes 5\% commission to transfer it back to your bank account. As long as you are transferring within the paytm or using paytm to make payments, there wont be any extra charges but if you try to transfer paytm wallet money to your account, you will be charged 5\% of the transfer value.

How to add money to Paytm account?

Launch your Paytm app or website, click on the Add Money option. Enter the amount you want to add and click on the Add Money option. Then you have to complete the payment process through any of the modes of payments you want.

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What are the benefits of Paytm food wallet?

Unlimited 1.5\% cash back on all purchases, $200 bonus offer. Paytm food wallet is not applicable for every merchant.

How does Paytm help in making payments to friends?

Paytm helps in making payment either to your friends by mentioning the mobile number of that person or you can pay to the merchants ( retailer) using the QR code stick in their shops given to them by Paytm. I hope this answers your question.

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