Paytm INR is one of the most popular payment systems in India. It provides many services, including online payments, money transfers, ticketing, bill payments, etc.
Paytm payment system functionality
Here are some of the essential aspects of Paytm's functionality for the user:
- Using the mobile app or website, users can quickly pay bills at restaurants, shops, hotels and other establishments and order food at home.
- Ability to transfer money between users quickly and conveniently. Useful for sending money to friends or paying freelancers.
- Coupons and discounts on various goods and services when paying through Paytm INR.
- Buying tickets for various events, including cinema, concerts, and sporting events. Purchase of tickets for buses, trains, and planes.
- Payment of electricity, gas, water, telephone and other utility bills.
- Credit card issuance, loans, deposits and other banking services from Paytm. Investing in funds and shares without fees.
- Purchase of insurance policies. There is a Postpaid feature — you can buy an item now and pay later.
Paytm is integrated with other services such as Uber, Zomato and Ola, allowing users to quickly pay these companies through their Paytm account. Notably, some features can be used without identity verification.
Paytm INR features and commissions
Paytm is a reliable digital services platform with the following benefits: favourable exchange rates, low retail payment fees, quality information protection and security.
Here's a list of the significant fees associated with using Paytm:
- Top-up fees. Relevant for almost all payment methods.
- Per withdrawal to bank account/debit card. Usually, 3.2% of the amount can vary depending on the method.
- For express payment. Depending on the country, it can be up to 1.5% of the amount.
- For wallet-to-wallet transfers. 0,5%.
- Banks providing banking services to Paytm users may also charge additional fees independent of the EPS.
- For payment via NFC. 0,5%.
- Loan rates are from 2.5%.
In most cases, you still need to pay TDS (special Indian tax). Periodically Paytm offers special rates for users. To avoid missing them, it is necessary to follow the news of the service.
There are exchangers where you can exchange Paytm INR for another currency or cryptocurrency, or vice versa, to purchase funds in this direction. BestChange will help you find the best options.