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With Paytm, now anyone can transfer the money without dealing in cash. In last few weeks, even small merchants are also opting for Paytm to accept payments. But in a country where 56% of mobile users are still using a feature phone, transferring money online is a far reality for many people. Also, you need internet access to use Paytm which could be a real hassle for people living in remote areas where internet is yet to reach.
Therefore, Paytm today launched a toll-free number service that lets feature phone and non-internet users access their Paytm account and pay easily. With this service, the Paytm users and merchants can transfer the money to any other Paytm user by dialing a toll-free number.
To use this service, the Paytm users and merchant must set a 4 digit PIN first for the authentication purpose. Then, later on, users can transfer the money from their Paytm wallet to any other Paytm wallet just by entering the recipient’s phone number and amount.
Here’s the complete procedure:
To set the PIN:
To transfer money:
Paytm also provides an option to recharge your mobile number on calling this toll-free number. This is a great feature from Paytm and will help a lot of users who don’t have internet access. Paytm also has recently announced that it will merge its digital wallet business with its newly setup Paytm Payment Bank Limited (PPBL) after getting a nod from RBI.
To push the cashless economy, the RBI also has eliminated the need for two-factor authentication for the transactions with the amount less than Rs 2,000. So, you don’t have to wait for OTP(One Time Password) for transactions with the amount below Rs 2000 anymore.
Well my Name is Ranjan Chatterjee. An Electrical Engineer from Asansol , India. I am the founder of MeraHost and the one behind this blog too.
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