What is Paytm Mobile Wallet and how safe is this?

What is Paytm Mobile Wallet and how safe is this virtual walletWhat is Paytm Mobile Wallet and how safe is this?

These days, mobile has become part of our fast track life. If you are thinking about speeding up utilility payments, quick shopping, then Paytm mobile Wallet would help you. There are more than 100 million users using Paytm mobile wallet which is approved by RBI. What is this Paytm mobile Wallet all about? What are the benefits of Paytm mobile Wallet? How safe is this Paytm mobile Wallet for online payment transactions?

What is Paytm Mobile Wallet?

Paytm is mobile e-commerce company started initially for mobile re-charges, payment of utility bills etc., However considering enormous opportunities, Paytm has quickly grabbed the market place and now is top payment App in India. This mobile Wallet leader App is being used by more than 100 million users and several Apps are covered for payment.

Paytm Wallet, a secure digital wallet that lets you manage your money, recharge, pay bills, shop on Paytm, send money to friends & pay for various brands & services like Uber, MakeMyTrip, BookMyShow etc.,

How Paytm Mobile Wallet works?

  • Download Paytm App from google store or from this link directly –> Paytm mobile app.
  • Register with your mobile number or email ID (optional) along with password.
  • You would get OTP on your mobile number. Enter OTP and your registration is complete.
  • You need to transfer money from your bank account or credit card to your paytm Wallet so that you can use it.
  • Click on “Add to money to Paytm Wallet” option, enter amount and click “Add money to wallet”. This would take you to screen where you can select credit card/debit card/internet banking where you can transfer money to your paytm mobile wallet. Money re-charged to paytm is called “Paytm cash”. Means you need to have balance in paytm cash in order to make utility bill payments etc. See the below screen shots.

Paytm-Adding money to wallet-2

  • Once money is in your paytm wallet, you can use to make payments or use for shopping. You can visit home page and click respective tab to make payment.

Paytm-Payment for utility

What are the benefits of Paytm Mobile Wallet?

  • It is quick, simple to download and register. Mobile App is free.
  • Paytm offers quick re-charge and utility bill payments apart from shopping from paytm website or from other websites.
  • You can get discounts while shopping.
  • Paytm offers exciting coupons which can be redeemed while shopping. These coupons are delivered to your email ID when you re-charge your paytm mobile Wallet.
  • If you have promo code, you can enter and avail discounts and cashbacks.
  • In case of refunds, such refund amount is credited to your Paytm mobile Wallet where you can use lateron for other payments.

Any negative points about Paytm mobile Wallet?

  • There are several users complaining paytm as worst mobile payment App.
  • There are many users complaining that NO help in case of wrong orders placed by them at paytm. In case they want to cancel or modify their order, no quick customer support. They need to wait for hours to get connected to customer support.
  • There is delay in delivering products purchased on paytm site directly. Some claim products are delivered even after 15 days.
  • There are reviews at mouthshut.com saying fake products being sold on paytm site.

How safe is this Paytm Mobile Wallet?

  • Online payments has been posing risk for some time. We are seeing several frauds happening while making online payments through credit card or net banking where credit card nos and passwords are being stolen. Now the question is how safe is Paytm mobile Wallet.
  • Paytm Mobile Wallet has been approved by RBI.
  • Currently this is being used by more than 100 million users. Currently Paytm services several million mobile apps for payments. This creates more trust about paytm.
  • However, one should consider the experience of shopping also to rate it. You can use this for utility bills, bus ticket booking, cinema ticket booking etc., In case you had bad experience earlier, for shopping, you can use other Apps / websites and use Paytm for payments only.

Readers, what is your view on paytm virtual mobile wallet? What are your experiences of using such mobile payment App?

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What is Paytm Mobile Wallet and how safe is this

Suresh KP


  1. is there any hidden transaction fee for receipts and payment through paytm ?

    are they are charge any to trnsfer paytm amout to my bank account ?

  2. The payment app shud be a facilitator not an intruder.Why should the paytm app ask for access to my camera/media/file, SMS,CALL Info.There is likelyhood of the info being misused.

    1. Hi Ankesh, here is how you can transfer money from paytm to your bank account. Step 1: Login to paytm,  Step 2: Just Click on “Transfer Money to Bank” option, Step 3: Fill in the account holder name and account number with respective amount. Step 4: Select the bank, state, city and branch or if you know the IFSC code manually type in the code in there and Submit. Step 5: Click “Send Money”. Step 6: Money is credited to your account.

  3. If somebody steals my mobile, he can use up all my balance in PayTM for payment – there is no MFA (Multi Factor Authentication), even if I log out, the user who steals my mobile can click on “Forgot password” and login. So it is highly insecure to keep money in it for shopping. So, I will end up putting money in it every time I do shopping – a big problem.

    1. Yes that is one of the problem. I use it mostly for Uber cabs so that I dont have to pay with cash otherwise exact change is always not possible. So keep small amount and use it.

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