Paytm Announced A New Development That Could Change The Face Of Our Country’s Economy!

Ever since Narendra Modi has addressed us as ‘Mitron,’ our lives have changed and even after a month, everything seems to be haywire. While the corrupt ones with black money must have been successful in getting rid of it, the honest ones are still struggling and waiting in the queues outside ATMs. But amidst all this disappointment, there’s someone who probably had the best day of his life on the night of 8th November, and that someone is the CEO of Paytm, Vijay Shekhar Sharma.

In no time, his app was on the phones of many who he otherwise would have never imagined using in their entire lifetime. From local vendors selling fruits and vegetables to the boot polishers at the railway station, everyone happily said ‘Paytm karo’ to anyone who had no cash in hand.

Paytm just announced that it has now made itself available to people WITHOUT AN INTERNET CONNECTION AND A SMARTPHONE. 

IndianOnlineSeller.com

How do they do it?

The company launched a toll-free number 1800-1800-1234 that enables transfer of money for its customers and merchants. It also lets the people recharge their mobile phones. However, in order to use this service, the customers or the merchants first need to register themselves with Paytm by entering their mobile number and setting a 4-digit Paytm pin. On completing the registration, they can then add the recipient’s details (mobile number, amount and their Paytm PIN) to either send or receive money from one Paytm wallet to the other.

The only catch is that users will still need an internet connection to use this facility. Also, only people whose mobile numbers are already registered will be able to avail this service. You can still create an account on Paytm through your mobile phone or through their website. You can also find the nearest cash-in point using Paytm to refill your account.

In November, Paytm introduced a feature of transferring money to another bank account from their Paytm wallet at 1% transaction fee. However, they very soon altered the transaction fee from 1% to 0%.