Paytm allows digital wallet users to make money transfers

Tuesday 16 September 2014 14:39 CET | News

Online payment service Paytm has begun allowing users to transfer money between them and integrated its wallet with online merchants like MakeMyTrip and BookMyShow.

Paytm has also integrated its wallet with about 400 online merchants like redBus, Fabfurnish and Bharat Matri mony. This means users making an online transaction have the choice to pay through Paytm wallet along with traditional options like credit card or net banking.

With many transactions from utility bill payments to online shopping and ticket booking moving online and even going mobile, non-cash payment methods have become important. About 20 million credit cards are in circulation in India, along with around 350 million debit cards. A RBI report reveals that only 10-15% of these cards are used for online transactions.

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Keywords: Paytm, digital wallet users, money transfers, online merchants, online payments, online transactions
Categories: Payments & Commerce
Countries: World
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