Friday, 14 July 2017

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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