Ever since the Government of India announced the demonetization of Rs 500 and Rs 1000 currency notes, the whole nation has been experiencing the unavailability of cash and have realized the importance of a cashless economy. In these desperate times when the cashflow is narrow, Paytm turns out to be a life savior.
With Paytm, now anyone can transfer the money without dealing in cash. In last few weeks, 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:
- Dial 1800-1800-1234
- You’ll immediately get a call back from Paytm to set a 4-digit PIN
To transfer money:
- Dial 1800-1800-1234
- The interactive voice response will confirm your current Paytm wallet amount.
- Then IVR will provide you an option to enter recipient’s phone number and amount.
- Confirm the 4-digit PIN you already set.
Paytm also provides an option to recharge your mobile number by calling this toll-free number. This is a great feature and we think it will help a lot of users who don’t have internet access. They have also recently announced that they will merge their digital wallet business with the newly setup Paytm Payment Bank Limited (PPBL) after getting a nod from RBI.
To push the cashless economy further, the RBI also has eliminated the need for two-factor authentication on transactions 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.