Don’t use Pay tm
Pay tm is an Indian electronic payment and e commerce
company based out of Delhi NCR, India. Launched in August 2010, it is the
consumer brand of parent One97 Communications. The name is an acronym for
"Pay Through Mobile." The company employs over 13,000 employees as of
January 2017 and has 3 million offline merchants across India. It also operates
the Pay tm payment gateway and the Pay tm Wallet. according to
Vijay Shekhar Sharma, founder of Pay tm.
Involving the transactions can create on Pay tm are recharges for mobile
phones, metro cards, DTH cable, data cards, etc., as well as postpaid payments
for mobile phones, landline/ broadband, electricity, water and gas bills, etc. can also book tickets for buses, trains,
flights, movies, hotel rooms, etc. and pay for Uber cab rides using the
platform. In addition, can buy goods on the company’s e-commerce platform using
the wallet, and even make offline payments at over 8 lakh merchants, Pay tm
claims.
Why Pay tm Wallet??
Pay tm Wallet, as described above, is the digital payment
tool where can transfer money from bank account or credit card to use for transactions
on the platform. need to set up an account using mobile phone number and email ID to setup a
Pay tm account and transfer cash to the wallet. can add up to Rs. 10,000 in a month in the
Wallet.
Mobile
payment/Mobile wallet:
Mobile payment (also referred to as mobile money, mobile
money transfer, and mobile wallet) generally refer to payment services operated
under financial regulation and performed from or via a mobile device. A mobile
wallet in easy terms is a system of creating payments. It is just a method of
paying. The difference between online payment services and mobile wallet is
that can use this wallet to make payments
in a physical store too! It’s just like you swiping card in a store or giving cash to pay.
It’s like a one click pay with no want to fill in card
numbers and passwords every time. One can link their credit cards, debit cards
and bank accounts and pay immediately with no hassle to enter the details each
time. There will be no need of physical wallet like we do in the case of cash
or cards. Also mobile wallets are upgrading to allow to store documents digitally like Driving License, Aadhar Card, Pan Card, etc.
There will no issue of asking or searching for change which we have while
handling cash. It will be possible to make instant payments. Just like we can
exchange cash at any moment, we can exchange and transfer money anytime.
Uses of Pay tm and Pay
tm Wallet:
Ø
Set up a Pay tm account using mobile number and
email ID.
Ø
Add some money to Pay tm Wallet using net banking, debit card,
or credit card.
Ø
To transfer money to someone else, select the
'Pay or Send' option.
Ø
can make
payments to others or to bank accounts on Pay tm by scanning a QR code.
Ø
Alternatively, can send money to another Pay tm
user via their phone number.
Pay
tm for offline:-
can create cash-less payments using Pay tm Wallet even
without internet connectivity. If a shop accepts Pay tm as a mode of payment, can
either use QR codes or bar codes, along with a One-Time Password (OTP) to pay
them. To do this, need to open the app, select the ‘Pay or Send’ option, and
choose between QR code or bar codes. Just scan the code and enter the OTP to
authorize the payment offline.
Negative Points of Pay tm:-
Ø
Customer support is not up the level
Ø
need to have high speed mobile internet
connection to transfer money
Ø
will transferred money from pay tm wallet to
bank account may charge you 1% -4%.
So All of use Pay tm
Wallet. Pay tm wallet money can be transfer in Home, Hotels, Petrol bulks,
Journey times, etc. Now lets make the India with cashless India.
Don’t forget to tell friends too.
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