In the wake of demonetization of Rs 1,000 and Rs 500 currency notes, mobile wallets like Paytm, Mobikwik and Freecharge have come to the rescue of common people grappling with cash crunch. To ease their pain, the government has ensured these mobile wallets are accepted at more places, and customers as well as small merchants can continue with their routine life without any disruption. Paytm, in particular, has become one of the biggest gainers from the demonetization move, and the company has been milking the opportunity by introducing new ways to get more people using its mobile wallet service. Shortly after launching an in-app PoS feature, Paytm has introduced a new service which allows one to transfer money without really requiring an internet connection. Also Read - Internet down: Zomato, Paytm, Disney+ Hotstar, Amazon, Myntra, many other global services suffered massive outageAlso Read - Zomato IPO: How to invest via bank, Zerodha, and Paytm Money
To enable feature phone users or people with iffy internet connection use the mobile wallet, Paytm has launched a toll-free number — 1800 1800 1234. To get started, first you need to have a Paytm account. The Paytm app is available for both Android and iOS platforms, and is also available for desktop. After having registered, you need to call on the toll-free number from your mobile number registered with Paytm. The IVR then asks you to wait for a return call, which then lets you set a 4-digit Paytm PIN on call. After that, you need to enter recipient s mobile number, amount, and then enter PIN to transfer the money from your Paytm wallet to another Paytm wallet. Do note, your Paytm wallet needs to have already have enough balance to successfully complete the transaction. Also Read - How to book COVID-19 vaccine slot via Paytm App, get Covaxin and Covishield shots with these simple steps
Surprisingly, we tried out the toll free from three different numbers (registered with Paytm) but the IVR initially asked us to call from a registered mobile number , ultimately disconnecting the call. Finally on the fourth attempt, from another registered number, we were able to get through. There were also occasions when the toll-free number was busy. We are hoping this is some sort of glitch at the Paytm side as it has been deployed just today, and gets fixed as soon as possible. BGR India has reached out to Paytm for more information on this.
Recently, Paytm and other wallet service providers have been looking to leverage the demonetization move, which has led to high surge in digital transactions. Paytm recently launched an in-app PoS feature, which allows customers to pay to merchants using their credit/debit cards. ALSO READ: Paytm now enables any merchant to accept debit, credit cards on their Android smartphone
Later, MobiKwik introduced a Lite version of its application, which could work on slower internet connections. The lite version of the app also included a new facility which allowed customers to pay through credit and debit cards, and without needing the application on their phone. However, unlike Paytm s in-app PoS, MobiKwik Lite lets the payment happen on customer s device. READ MORE: MobiKwik Lite app launched, lets customers pay via credit and debit cards
Earlier, the RBI raised the limit of the maximum amount of money one can store per month on their digital wallets from Rs 10,000 to Rs 20,000. Merchants who have their bank accounts linked to their wallet, can transfer up to Rs 50,000 to their bank account via digital wallets every month.