Paytm extends its mobile wallet service to non internet users!
Amidst the tension and chaos that followed the recent demonetisation scheme in India comes an alleviating news- Paytm, Indiaís leading mobile wallet service provider, has announced that customers will no longer need internet connections to make payments through its e-wallet application. The company has extended its e-payment service to users of feature phones (old model or low-priced phones with limited features). To enable cashless and internet-less payment, Paytm has launched a toll free number- 1800 1800 1234. Customers and merchants who wish to make or receive payments through feature phones just have to dial up this number.
4 easy steps to use Paytmís internet-less cashless wallet:
1. Customers and merchants will have to register with Paytm using their mobile number.
2. They need to set a 4-digit password.
3. To make a payment, the user must enter the mobile number of the receiver (the receiver should also be registered with Paytm).
4. Next, the amount and the Paytm PIN have to be entered. The transfer of money from one Paytm wallet to the other is done!
However, there is one loophole in Paytmís new offering- to start using this internet-less service, users have to make their Paytm account using a smartphone with data connection. Meaning, a smartphone and internet is required ONCE for the initial registration purpose.
Paytmís new move is likely to boost sales that had declined because of scrapping of notes. Many retailers and small-time vendors suffered great loss in the past four weeks. Not just them, but even big companies of different sectors were severely hit by the demonetisation policy. Among the few firms that earned a fortune from this economic overhaul is Paytm. Post demonetisation, the company made a record of 5mn payment transactions per day. It witnessed a 1000% increase in the amount of money added to the Paytm accounts. Application downloads too rose by three-fold.