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

Types of Cashless Transactions Using Debit Cards Using Credit Cards Using Internet Banking Using Mobile Banking Mobile Wallets

What is Paytm Wallet? 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

Why Paytm Wallet? Simple and user-friendly Highly secure– use 128-bit encryption technology Cashback offers discounts Extraordinary offers to win gadgets and other products

Uses of Paytm 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

Registering with 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

Adding Money to Paytm Wallet 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 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

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 ‘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.

Transferring Money using Paytm to Bank Account 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.

Recharging Mobile using Paytm 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

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