If you have never used any online mobile recharging service before to get recharge for your prepaid connection or paying your mobile bill, then you surely are missing on the fantastic benefits of online recharge. While there are plenty of third party online recharge services, one of the most popular and widely used is Paytm. The Paytm offers an excellent platform that is simple, quick and secured. If you have never used Paytm before, then you must not have how it works? Is the site safe? What is paytm cash wallet? Let’s find out the answers for these questions.
Paytm is an online bills payment service provider, which provides a hassle free bills payment experience on the internet. Paytm is also available on smartphones as a mobile application. So, if you have a smartphone that has a decent screen, you can easily make online bill payments by using the Paytm app. Another benefit is that you can make you bill payments on the go. In addition to bill payments, you can also make recharges to your mobile account. Recently, Paytm also introduced the IMPS or intermediate Payment Services on its platform. With this, users of Paytm can use their mobile wallets to make bill payments. In addition, they can also transfer money into any bank accounts.
Such a service is very handy for people who have the need of transferring small amounts of money to the bank accounts of their loved ones. Since the wallet is virtual wallet there is no chance of theft. People who are constantly travelling and cannot go to the bank to make payments are finding this service very useful. Recently, it was all over the newspapers that Paytm was planning to open 50,000 retail outlets in India. If this happens, then almost 25 million Paytm customers will be able to load money into their virtual mobile wallets.
In order to avail certain services, the customer needs to have a smartphone and he/she needs to do a registration. There are certain terms and conditions that you need to understand before you use the mobile wallet. First and foremost, you need to understand that the mobile wallet is not a bank account and you will not be getting any interest on it. The amount that you put in the wallet is purely for convenience and ease of transfer. There are some limits that you need to understand before you sign-up for Paytm services.
You will have to maintain a minimum balance of Rs. 2,000 in your wallet. Any transaction that you make using the wallet needs to be above 1,000. In a day, you cannot make transactions above Rs. 5,000 and for a month, you cannot make transactions over 25,000. All these details are available on the terms and conditions page of Paytm. You will have to visit this page from time to time to check out if there are any changes made to the limits. The main aim of Paytm is to make the economy a cashless economy.