People pouring money into FD in lockdown, Paytm Payments Bank crossed Rs 600 crore mark

News Update, Paytm, Savings

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New Delhi Paytm Payments Bank Limited said on Friday that it recorded a tremendous increase in fixed deposits (FD) during the lockdown. The amount of FD accounts with the partnership of its partner IndusInd Bank has crossed 600 crores. Paytm Payments Bank Limited said that it offers FD accounts from customers with its partner bank, where customers can earn up to seven percent interest annually. PPBL has described this interest rate as one of the highest interest rates in the industry.


PPBL said that during the lockdown this growth has occurred in its FD accounts due to huge fluctuations in other assets. The bank said that a large number of PPB account holders are keeping their savings in fixed deposits in the lockdown. Paytm Payments Bank Limited has said in a statement that the amount in its savings accounts has crossed Rs 1,000 crore.

PPBL CEO and Managing Director Satish Kumar Gupta said in a statement, ‘We believe that wealth management products should be available to all. Regardless of the amount of their wealth. It is a proud moment for us that millions of bank account holders understand the benefits of the benefit of fixed deposits. ‘


Significantly, due to the outbreak of Corona virus and lockdown, industrial activity has been disrupted on a large scale. Due to which the investors have suffered a lot in the equity markets. Banks have also reduced interest rates on deposits. In this situation people are attracted towards fixed deposits.

Realme is soon bringing UPI based payment service, Paytm will get competition

News Update, Paytm, Savings

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Information has been revealed about UPI (Unified Payments Interface) based payments support in PaySa, a financial service platform developed by Realme.

The teaser of UPI (Unified Payments Interface) based payments support has been released in PaySa, a financial service platform developed by Realme. Realme India CEO Madhav Seth has posted an image detailing the internal testing of UPI payment transfer through the Realme PaySa app.


From this, it can be guessed that Realme PaySa can be launched soon to compete with Google Pay, Paytm and Xiaomi’s Mi Pay. This app was launched in December to give micro loans to users from 8,000 to 1 lakh rupees.

A photo has been posted on Twitter by Madhav Seth. In this, an UPI based transaction is visible through the Reality PaySa app. It is also expected from this image that Realme has partnered with HDFC Bank for this new service. Currently, nothing has been said about when this feature will be released. However, Madhav Seth has mentions that UPI based payments support is currently in testing phase and it will be released to all users soon.


The Realme PaySa app was launched with the objective of making transactions easier for both individual users and small and medium enterprises (SMEs) in India. For this, the Chinese company partnered with Finco, an Oppo-owned fintech startup. Many more services are offered through this app, including personal loans. In this, credit report is also made available through Credit Minister. However, now it seems that the company wants to go beyond credit and wants to attract more and more people by paying UPI based payment.

Paytm is offering 50 rupees cashback, free calling and 2GB data on Vodafone’s cheap plan

News Update, Paytm, Savings

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During the lockdown, Vodafone is also offering offers with cheap plans. Let’s know about the plan and offer …

During lockdown, companies are offering different offers and services for the convenience of customers. Talking about, this company of Vodafone (vodafone) offers many plans for the convenience of customers. But during lockdown, the company is offering offers with cheap plans. Let’s know about the plan and offer …


Rs 249 plan
In this plan, customers get 28 days of service validity. In the form of internet data, 2GB of data is being given in it. That is, the customers will get a total of 2GB of data in 28 days to use. In this, customers will also get 300SMS. Along with this, the most special thing is that in this cheap plan, customers are being given unlimited calling facility on any network.


Not only these expensive services will be available for free, in this plan, the company will also give subscription of premium apps to the customers. Vodafone play benefits are being given free in the plan. Actually the price of Vodafone Play is 499 rupees. Apart from this, Zee5 subscription is also being given for free in the plan, which is priced at Rs 999.

Paytm invests ₹5 crore in Rooter Sports Technologies

News Update, Paytm, Savings

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  • Adidas’s family office-run leAD sports accelerator and early-stage fund Anthill Ventures also participated in this round
  • Apart from cricket, football and multiple other sports, Rooter allows fans to live stream their games and also connect and share the best game videos

BENGALURU: One97 Communications Ltd, the parent company of Paytm, has invested 5 crore in sports fan engagement platform, Rooter Sports Technologies, as part of its Series A round, according to two people aware of the deal.

Adidas’s family office-run leAD sports accelerator and early-stage fund Anthill Ventures also participated in this round.


Founded in 2016 by Piyush and Dipesh Agarwal, Rooter Sports Technologies is a sports social community platform which allows sports fans to get access to specifically curated content in their own preferred languages.

Apart from cricket, football and multiple other sports, Rooter allows gaming fans to live stream their games and also connect and share the best game videos with other gamers through voice and video features.

Rooter, at present, has close to 5 million fans who spend close to 24 minutes daily on the platform, according to its website.

Rooter and Paytm did not respond to email queries.

This strategic investment is in line with Paytm’s gaming arm, FirstGames, which it launched In January 2018 as a joint venture with AGTech Holdings Limited, a Chinese gaming and entertainment company. Paytm rebranded the gaming platform to FirstGames, last year.

“This is a strategic investment clearly. Content and gaming go hand in hand, Paytm FirstGames has a fantasy cricket gaming strategy and a lot of users do research on players and typically these individuals go to forums like Cricbuzz or forums. But maybe with this strategic investment Paytm Games and Rooter can look at an integration, where users can play games and get information, and connect to a community of sports fans on a single platform,” said one person, who didn’t wish to be named.


A second person said for Paytm FirstGames, Rooter can act as an acquisition channel where users interact and consume content about various players before participating in fantasy cricket matches on Paytm FirstGames.

In May last year, Paytm FirstGames had said it had garnered more than 30 million users and announced the launch of fantasy sports for cricket lovers and card game enthusiasts.

Earlier this month, Paytm First Games announced its entry into Esports with SuperCell to bring the globally popular ‘Clash Royale’ Esports tournament to India. Around then Paytm Games has said it sees more than half a million daily active gamers on the platform, spending anywhere between 30 to 45 minutes per session.


In March, when the lockdown to curb covid-19 was announced, Paytm FirstGames also claimed that it had witnessed over 75,000 new users joining the platform every day.

Digital payments slide in March as consumption slows

News Update, Paytm

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At present, people are choosing to access cash through the BC channel rather than going to branches where they will come in contact with other people or to ATMs which are not being sanitised.

All modes of digital payments saw a dip in usage during March as the Covid-induced lockdown led to a slowdown in consumption and e-commerce firms virtually stopped accepting new orders, industry players said. There could be a pick-up in transactions as the lockdown is lifted and the supply chain normalises.


Transactions made through the Unified Payments Interface (UPI) channel fell to 1.25 billion in March from 1.32 billion in February and the value of money moved declined to Rs 2.06 lakh crore from Rs 2.22 lakh crore. Immediate Payment Service (IMPS) transaction volumes fell to 217 million from 248 million in February and the value of transactions dropped to Rs 2.02 lakh crore from Rs 2.14 lakh crore. While March data for card payments, National Electronic Funds Transfer (NEFT) and mobile/internet banking are yet to be released by the Reserve Bank of India (RBI), industry executives say the decline in usage was across channels.

Harshil Mathur, CEO and co-founder, Razorpay, said in the first two weeks of March, digital payments were actually rising but they steadily fell after the announcement of the nationwide lockdown. “On an average, transactions were about 10% up in the first half of March, but once the lockdown came into effect, overall payments were down by about 30%. Initially, spending on groceries and utility bills was rising even though payments for travel fell, but thereafter, everything fell because even on e-commerce supplies were unavailable,” Mathur said.


Transactions through the Aadhaar-enabled Payment System (AePS) also slowed in March as business correspondents (BCs) offering assisted banking services were unable to reach their customers in the hinterland. Anand Kumar Bajaj, CEO and founder, PayNearby, said that such transactions could pick up in the days ahead as more people line up to access the cash being transferred to them as assistance amid the lockdown. “With DBT (direct benefit transfer) disbursements coming in, AePS transactions will shoot up,” he said.


At present, people are choosing to access cash through the BC channel rather than going to branches where they will come in contact with other people or to ATMs which are not being sanitised. Experts say UPI will also catch up in some time as payment service providers are offering the acceptance mode through apps rather than the existing method of pasting the UPI QR code at storefronts.

ICICI Announces Banking Services On Whatsapp

Paytm, Top Credit Card Offers

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The outbreak of the coronavirus has given various businesses a chance to think of the operations that could be operated from home. Every business today has tried to reach their customer and therefore facilitate them at home during this phase of quarantine. In light of the same private lender ICICI Bank, today announced the launch of banking services on WhatsApp.



To enable its retail customers to undertake a slew of banking requirements from their home in the time coronavirus lockdown. Customers can check their savings account balance, last three transactions, credit card limit, get details of pre-approved instant loan offers and block/unblock credit and debit cards with ICICI WhatsApp banking services. Apart from this, they can also get details of the nearest three ICICI Bank ATMs and branches in their vicinity.


Who can avail of the services?
The services can be availed by all the customers having the savings account in the bank as well as WhatsApp in their smartphones. Credit cardholders can block or unblock their card. Non-ICICI customers can get details about nearby branches and ATM.

How to start ICICI banking services on WhatsApp?
The customer needs to save ICICI Bank’s verified WhatsApp profile number, 9324953001 to their contacts and send ‘Hi’ on this number using the mobile number registered with the bank. The bank will respond with a lowdown of the services available under this facility.



From the lowdown of services, type the keyword of the service required. For instance, <Balance>, <Block>, etc.  Service is carried out instantly.

Nearest ICICI ATM BRANCH  and branch: Type <ATM>, <branch>

Available offers on travel, dining, and shopping nearby: Type <offer>, <discount>

Commenting on the launch of the service, Anup Bagchi, Executive Director, ICICI Bank said:

NPCI calls for using digital payments to reduce social contact and contain Covid-19 outbreak

News Update, Paytm

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NPCI has also fast-tracked the onboarding system of UPI/UPI-QR to make it totally contactless and fully online, for both vendors and merchants. With this customers can use UPI to pay for essentials and transfer money digitally without the risk of physical contact.
The National Payment Corporation of India (NPCI) has come out with a circular urging Indians to use digital payments, especially during the coronavirus (COVID-19) crisis. This is to reduce social contact without the exchange of cash notes and coins, therefore reducing the chance of transmission of COVID-19. NPCI, along with banks and ecosystem partners, will help every citizen during the current lockdown period through robust digital payment infrastructure.



Dilip Asbe, NPCI MD and CEO said, “In the current lock-down situation, all service providers of essential services and consumers should switch to digital payments methods to stay protected.” NPCI and the State Governments are ensuring that more and more vendors of essential services are on the digital platforms, so as to maintain social distancing in this critical scenario.

NPCI said they are improvising to meet the requirements for COVID19, across all of their payment systems. The infrastructure will also support the additional load on the UPI platform, as more and more users will now be tapping into the system for ease and safety of digital transactions.


NPCI has also fast-tracked the onboarding system of UPI/UPI-QR to make it totally contactless and fully online, for both vendors and merchants. With this customers can use UPI to pay for essentials and transfer money digitally without the risk of physical contact.
Last week, NPCI allowed payment service providers to offer the facility to make cash withdrawals using the UPI. This service will be in line with the existing facility available at ‘Cash at Point-of-Sale (PoS)’ enabled by the cards.


For this facility, in tier-1 and tier-2 centers transaction limits have been set at Rs 1,000 per day and in tier-3 to tier-6 centers Rs 2,000 per day. Note that only 3 transactions will be allowed per account per payee UPI ID. Service providers can also charge customers up to 1 per cent of transaction value, up to Rs 10, on such cash withdrawal.

Here is the list of apps that allow UPI transactions:

1.       Amazon Pay 2.       Angel Bee
3.       Angel Broking 4.       Bajaj Finserv Direct Ltd
5.       Cleartrip 6.       CoinTab
7.       Cred 8.       FASTag
9.       Flipkart 10.   Google Pay
11.   Hungerbox 12.   JustDial
13.   Khalijeb 14.   Make My Trip
15.   MI Pay 16.   Mobikwik
17.   MudraPay 18.   Myntra
19.   Omegaon 20.   PayBee
21.   Phonepe 22.   PVR
23.   Redbus 24.   Samsung Pay
25.   SHAREit 26.   Strucred (Kreon)
27.   Swiggy 28.   TrueCaller
29.   Uber India 30.   Udaan
31.   Ultracash

Check out the features of newly launched Paytm Payments Bank debit card

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Check out the features of newly launched Paytm Payments Bank debit card



On Thursday, mobile wallet Paytm, came out with the latest version of its iOS app, few months after it was launched on Android. It brings the BHIM UPI facility for the iPhone users. Along with this, the company also launched the Paytm Payments Bank debit card allowing the savings account holders to order a physical debit card from the Paytm app.



On Thursday, mobile wallet Paytm, came out with the latest version of its iOS app, few months after it was launched on Android. It brings the BHIM UPI facility for the iPhone users.In addition, the company launched the debit card of Paytm Payments Bank which will allow the savings account holders to order,from the Paytm app, a physical debit card. This Paytm debit card can be ordered by only those people having savings account with the Paytm Payments Bank. The facility is not for the Paytm wallet,since that is a separate service.

Earlier, when the users signed up for a Paytm Payments Bank account, they were provided with the virtual RuPay card which could be used online without any additional charge. The new physical card will also be a RuPay card and can be used at ATMs and stores.The extra fee that need to be borne by the users for this Paytm Payments Bank debit card will be the annual subscription of Rs 100, over and above the delivery charges. In case of lossof the card, Rs 100 will be charged again along with the delivery charges.



As per the Paytm Bank website, the card can be used at ATMs by the users with no additional charges up to 3 times at metro locations, or 5 times at non-metro locations. Beyond this limit, a standard transaction fee of Rs 20 will be levied.

Here are some features of the Paytm Payments Bank debit card:

  1. Platinum card benefits –Platinum benefits like cash back and discounts can be availed across a large number of merchants.
  2. Accepted online –In India, RuPay Debit card can be used across most of the apps and online websites.
  3. Cash Withdrawal from ATM –Cash can be withdrawn across India, at more than 200,000 ATMs.
  4. Free insurance –The users also get a free insurance cover of up to Rs 2 lacs in the case of permanent total disability or in the incident of death according to the terms and conditions.
  5. QR code on your Debit Card –To receive money instantly, the debit card will have a QR code.
  6. Shop at any store –Card can be swiped at stores across India.



If you do not have a Paytm Payments Bank account, what you need to do is click on the ‘Bank’ icon at the bottom of the screen, and then enter your Aadhaar number and other details. Then you need to set up an appointment for a representative to come in order to complete the KYC formalities.Once this is done, the bank account is ready for use.

Paytm Postpaid Recharge Offers

Paytm

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Paytm Postpaid Recharge Offers



With the current advancement in the new age technology, internet has made our lives so simple and Paytm is making it even simpler. It is time to experience the hassle-free process of paying the postpaid bill of various telecom operators online. Now,forget the discomfort of rushing to your nearest retailer for the mobile bill payment, as it is now the most convenient task to do through Paytm. Paytm now presents an instant postpaid bill payment service to pay the bills online and you can also enjoy paytm postpaid recharge offers.



Major Postpaid Mobile Bill Payment Service Providers Available at Paytm

Paytm online Postpaid service is easily available for almost all the prevailing telecom operators available in various circles of India like  Reliance Postpaid Bill Payment, Airtel Postpaid Bill Payment, BSNL Payment, Tata Docomo GSM Postpaid Bill Payment, Aircel Postpaid Bill Payment, Tata Docomo CDMA Postpaid Bill Payment, Idea Postpaid Bill Payment, MTNL Postpaid Bill Payment, Vodafone Postpaid Bill Payment, MTS Postpaid Bill Payment and many more.



Paytm postpaid recharge offers:

Code – GET5
Flat Rs. 5 Cashback on recharge or bill payment of Rs.10 or more. Code can be used 10 times every day

Code – LUCKY2000
Get assured cashback of up to Rs. 2000 on Recharge and Bill payments. Conditions apply!

Code – TRIPLING1
Earn upto Rs.100 Cashback* in three transactions.



How to Make Online Bill Payment?

To get started with the hassle free online bill payment service at Paytm platform in just a few easy clicks just login to the Paytm.com and fill in the below information:

  • Enter the postpaid mobile number
  • Select the mobile operator
  • Enter the required amount to be paid
  • Pick the valid bill payment promo code for your choice to get cashback & other attractive offers
  • Choose from the available payment method in accordance with your preference i.e. Net banking, Debit/Credit Card or Paytm Wallet. All the payment options are very secured and protected.

You are done with the payment.

Paytm Prepaid Recharge Offers

Paytm

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Paytm Prepaid Recharge Offers



With Paytm, you can do easy recharge online anytime and from anywhere, be it from home, office or while on the go, all you need is access to internet. Also, you can enjoy Paytm prepaid recharge offers.

These days nobody has time to visit stores for recharging their mobile numbers. Paytm’s fast recharge service is an is quick & simple process.



Major Prepaid Mobile Recharge Service Providers Available at Paytm

Paytm offers online recharge service for India’s top cellular networks i.e. Airtel Mobile Recharge | Vodafone Mobile Recharge | Idea Mobile Recharge | Reliance Mobile Recharge | MTNL Mobile Recharge | BSNL Mobile Recharge | Aircel Mobile Recharge | MTS Mobile Recharge | Tata Docomo CDMA Mobile Recharge | Tata Docomo GSM Mobile Recharge and many more.

How to Recharge Mobile Online?

With Paytm one can do prepaid mobile recharge in simple steps, all you need to do is just enter the correct information in the below three tabs:

  • Enter your prepaid mobile number
  • Select your mobile operator
  • Enter the amount
  • Pick your choice of recharge promo code and get cash back & other offers
  • Now proceed for payment, you can do so through Net Banking, Credit/ Debit Card or Paytm Wallet



Easy Mobile Recharge Online with Exciting Paytm Prepaid Recharge Offers

Code – GET5
Flat Rs. 5 Cashback on recharge or bill payment of Rs.10 or more. Code can be used 10 times every day

Code – LUCKY2000
Get assured cashback of up to Rs. 2000 on Recharge and Bill payments. Conditions apply!

Code – TRIPLING1
Earn upto Rs.100 Cashback* in three transactions.



With Paytm your online recharge enables in just few simple steps. Avail simple & safe online recharge service using detailed plans anytime through your mobile or desktop. Browse through pre-paid recharge offers, Full talk time (ftt) plans, top-up plans, roaming plans & many more.

Paytm’s prepaid online recharge will complete in few minutes and shows the transaction through SMS or mail immediately. Avail best of Paytm prepaid recharge offers.

To make your experience the happiest one, Paytm offers a loads of coupon codes, promo codes & cashback offers with every prepaid mobile recharge you make with them.

Loyalty Scheme By Paytm

Paytm

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paytm-loyalty-scheme

Loyalty Scheme By Paytm



The fintech giant Paytm is again in the news after it has introduced ‘Paytm Loyalty Points’ that can be collected by its users and can be redeemed on all platforms and the offline merchant base of Paytm.

The company has confirmed that it will add more features to its newly launched loyalty programme in the coming few days.

The startup has been aggressively trying to lure and onboard more and more customers on its digital payments platform. Just like ecommerce giants get traction from customers by offering lucrative discounts, fintech platforms offer amazing cashbacks to attract customers and, Paytm has been doing this since its inception. Now that the newly introduced Loyalty program is here, it further aims to increase its consumer base many folds in India.



Deepak Abbot, Senior Vice President at Paytm, mentioned during his interview, “The new Loyalty Scheme by Paytm will further encourage our users to keep transacting using Paytm, and drive business growth for our merchant partners”

This new Loyalty program came three days after Paytm announced that its QR feature now allows offline merchants working with the brand to accept unlimited payments directly to their bank accounts at 0% charge. The company also disclosed plans to invest $77.5 Mn (INR 500 Cr) to conduct merchant training and awareness drives pan India.



If news are to be believed other ec-ommerce giants like Flipkart and Amazon are also working on their loyalty programmes to attract and retain customers.

The Loyalty Programmes Circle – An Overview

Loyalty points are not new in the business. Companies operating in industries like credit and debit card brands, airlines and ecommerce companies have been offering loyalty and referral points to its customers and prospects for quite some time now. Startups like online travel company GoIbibo, fresh produce retailer iOrderFresh and medicines seller 1MG also have similar programmes to retain their existing consumers.



Among fintech players, Mobikwik was the first brand to launch its loyalty programme, through which the users can earn ‘Supercash’. Users can deduct 10% of the Supercash from their Mobikwik account on every transaction they make, both online and offline, ensuring some saving on every transaction by the brand.

Earlier in July 2017, a startup called MobiQuest Mobile Technologies got a considerable amount of funding from Paytm. The investment was concentrated majorly on MobiQuest’s loyalty platform m’loyal.

MobiQuest operates in the mobile loyalty and data analytics domain. It enables retailers and B2C businesses to acquire, engage, and reward their customers. The investment enabled the sellers of Paytm to design and develop customised multichannel loyalty programmes to increase their target consumer base.

Paytm is working hard to digitise payments throughout the nation. As a result of the new loyalty scheme by Paytm, it will further cater to the 200 Mn+ users on its platform.

INR 8000 Paytm cashback offer on mobiles: Grab now!

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INR 8000 Paytm cashback offer on mobiles: Grab now



In a win-win situation, Samsung has set forth an alliance with Paytm Mall through which the consumers can get cashback on a variety of Galaxy smartphones. With Paytm cashback offer a person can get a maximum of INR 8000 on purchase of selected range of Samsung Galaxy smartphones which includes the hot selling models like Galaxy S8, Galaxy S8+, Galaxy Note 8, Galaxy J5 Prime, Galaxy C9 Pro, Galaxy C7 Pro etc.

To avail this INR 8000 Paytm cashback offer, consumers is supposed to download the Paytm app and then scan the quick response (QR) code from the nearby Samsung Store using the app. The app will present a product listing page of Samsung devices on scanning the QR code and there after the consumers can choose the Samsung device they wish to buy. Consumers can now scroll down to the Paytm Mall’s “Special Offers” options to view the various cashback offers on the respective chosen handset. Touching the “Buy Now” option will take the user to the delivery address and the payment page where they can fill in the details and purchase their new Samsung Smartphone with attractive cashback offers. Once the payment is done, Paytm will send the users the pickup code via SMS which users can share with the Samsung dealer who will process the order and handover the handset to you.



This new alliance is poised to benefit both the companies through the QR based platform where it is very convenient for the consumers to pay for the product digitally online while getting the device physically from the nearby retailer at that instance only. This process will do away with all the past claims of the retailers that the handsets sold online are old and defective pieces. This new process of distribution will most certainly digitise the offline shopping experience of the consumers and will be a big boost to opening new channels of business. The cashback will ensure that the consumers get a best buy deal in return.



How Paytm Payments Bank, Airtel Payment Bank are Different From Normal Banks

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Paytm launches payments bank

How Paytm Payments Bank, Airtel Payment Bank are Different From Normal Banks



Paytm recently launched their payments bank and at present there are four payments banks operating in India – Paytm Payment Bank, Airtel Payment Bank, India Post Payments Bank and FINO Payment Bank.

Digitalization has now truly taken the center stage. Banking and all other kind of financial services has made its presence in the digital space and it’s growing at a very fast pace; and the introduction of payments bank is one of them. Like normal banks, payments bank perform almost all banking operation but doesn’t engage in any credit providing service. They rather function on a smaller business scale compared with other banks. Few more differences are listed below:



Interest rates: The standard interest rate for commercial banks range from 3.5 – 6%. Paytm’s bank offers an interest rate of 4% on savings account and 7% on FDs whereas, India Post payments bank is offering between 4.5 – 5.5% for savings account. As of now, Airtel payments bank is providing the highest interest rate of 7.25% which is a very lucrative rate compared to other commercial banks. Some other small scale commercial banks such as RBL bank offers interest rate of 7% and Yes bank offers interest rate of 6.25% but that too depends on the deposit amount of the person.

As per the guidelines set by RBI, payments banks cannot lend money they can only take deposits or accept payments from the users. Banking experts consider by offering higher interest rates on deposits competition in this sector is definitely expected to rise.



Minimum Balance: Most banks levy a charge on its customers in case he/she fails to hold a minimum balance in their bank account. However, Paytm payments bank came up with zero balance account scheme where no minimum balance is required to be maintained by the user and that too without any charge. Few other banks and digital banking systems has also introduced this scheme but most bank charges for not maintaining minimum balance.

Charges: Usually banks charge a certain amount of fees for transactions made online, along with most payment banks. Among payment banks for online transfers, India Post payments bank charges Rs. 5 for IMPS and NEFT is free of cost. Airtel payments bank doesn’t charge anything for online transfers within the bank otherwise it charges 0.5% of the transferred amount. Paytm payments bank is not charging anything for any online transaction, all fund transfer services like IMPS, NEFT and UPI online transactions are free of cost for the user.



For cash withdrawals also, bank account holders are charged differently by different payments banks.  Paytm payments bank follows the standard RBI rules of cash withdrawal charges like to all other commercial banks in India. For the same, Airtel payments bank charges 0.65% of the withdrawal amount; India Post payments bank doesn’t charge any fee for withdrawals made from their own ATM or any Punjab National Bank’s ATM if not it too follows the same RBI rules.

Process: The application process to open a bank account of payments bank is made very easy as compared to other banks. A user can open his/her bank account in no time through their mobile applications just by providing details like Aadhar number with KYC verification.

India Post payments bank offers a free debit card with annual maintenance fee of Rs.100 from second year. Paytm payments bank is also providing digital debit card for free and an annual subscription charge of Rs.100 for the physical card. It is also giving its customers with checkbook for a charge of Rs.100.

Paytm introduces BHIM UPI on its platform: All you need to know

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BHIM UPI on Paytm

Paytm introduces BHIM UPI on its platform: All you need to know



India’s leading Digital Payment platform, Paytm, is giving boost to the digital India dream of the National Government of India. The users can now link their savings bank account with the unique Paytm BHIM UPI ID and initiate the service of sending and accepting money. This ID will be unique for every Paytm users and will come handy for any kind of tracking purpose. The ID can be generated through the app itself.



Paytm has tweeted:

Paytm news

“You can create your own Paytm BHIM UPI ID on the app, which will be your [email protected] by default. You can link any of their Savings bank account with this unique Paytm BHIM UPI ID and start sending & accepting money. Paytm BHIM UPI IDs are being accepted across all banks and BHIM UPI apps,” a Paytm blog said.



Any of the savings account can be linked and Paytmusers can start sending and receiving money. It will not be necessary to share the bank IFSC codes with anyone now for this money exchange. Thus, it is not only reliable but also safe and secure in all respect.

As an example, if a Paytm user has the registered mobile number as 9123456789, then UPI ID generated will be as [email protected]

This Paytm BHIM UID functionality is available on android phones and will soon be made available to IOS as well. Transfer upto 1 lac per day will be possible through this facility of BHIM UPI ID and is as per the regulation of government policy. Also there are no limit to the number of savings bank accounts that can be added to the Paytm BHIM UPI ID as long as the registered mobile number of the bank account is same as the mobile number being used to generate the Paytm BHIM UPI ID.