Personal finance simplified

Simple steps to transfer your Paytm cash to another Paytm wallet

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Post-demonetization, payment wallets are beginning to replace the traditional payment method as it is very easy and secured to use. Paytm is the biggest beneficiary of demonetization as many people are moving to cashless payment ecosystem owing to cash crisis.

 

After Narendra Modi’s announcement of scrapping old Rs. 1,000 and old Rs. 500, many merchants are added to these wallet platforms including small vendors like tea shops, grocery stores etc.

Simply follow below steps to transfer or send paytm cash to another paytm wallet.

Step 1: Download and open the Paytm app on your smartphone

Step 2: Create your Paytm login

Step 3: Tap on Pay icon

Step 4: On the next screen, select scan code or mobile number option to transfer the cash

SCAN CODE method:

1. Click Scan code to open your camera to scan the merchant’s code (These are pre-printed QR codes, that contains the Paytm details of that particular merchant)

2. Scan the merchant code

3. Enter the amount and mention the reason (this is optional).

4. Finally click Pay to transfer the amount to merchant’s account

5. Confirmation SMS will be sent to you and merchant

Note: If you dont have sufficient balance in your Paytm wallet – you will be re-directed to the payment page where you can add your money using netbanking, debit card or credit card in your Paytm wallet and then pay.

Mobile number method:

1. Enter the correct mobile number of the person whom you want to transfer the money (you can also pick the mobile number from contacts from your smart phone by clicking the address book icon next to the mobile number field)

2. Enter the amount and mention the reason (reason is optional).

3. Click on send to transfer the amount

Note: The other person whom you have sent money will receive SMS, email and notification in Paytm app informing about the amount transfer and that they have received money from you.

You can also check the amount transfer confirmation in 3 simple ways

1. Sender will receivie an SMS from Paytm

2. Will receive a payment confirmation page in the app

3. Click on ‘paid’ in Passbook of Paytm app to view all your payment/transfer details.

If you have any doubts regarding Paytm wallet, kindly leave as comments. We would try our level best to address those.

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