Paytm has now started the verification process for its customers for their paytm account for their so called new service called Paytm Payments Bank.
After the de-monitisation chaos paytm emerged as the most flexible and acceptable mode of payment. We can say that paytm got a boost in their customer reach and this increases their app downloads and their profit.
Paytm is now ready in India for their customers to provide them a fully functional Bank in their mobile phones. Paytm’s this service is not a new service, recently UPI, BHIM, PHONEpe, and and dozens of banks have launched their own payment utility apps. But paytm is paytm. Paytm is in the market from the start of the mobile payments gateway.
After launching the Paytm Payments Bank service, paytm is now a bit more conscious for its customers security and harmony. For registering in the paytm payments bank, paytm asks its customers for their Aadhar & PAN number.
Paytm says that after the successful verification (KYC) of aadhar number (by the OTP & by the paytm verification officer), customers may able to use their paytm accounts for the transactions upto 1 lac. Previously this limit was 20000 for non verified accounts.
About the KYC process
For verification of aadhar number, the customer needs to visit the nearest eKYC verification center or book an appointment for your convenience at your particular place, the verification process is fast & simple, here biometric verification is done without the need of any paper work. And after the eKYC being successfully verified, the customer is eligible to a variety of paytm services which includes “No spending limit” & other special cashback offers.