- 1 What is Paytm?
- 2 Why Use Paytm Betting In India?
- 3 How to Use Paytm for Betting in India
- 4 Paytm Processing Times, Transfer Limits and Fees
- 5 Paytm Sign Up Bonuses and Free Bets
- 6 Paytm Pros and Cons
- 7 Bottom Line on Paytm Money Transfer India
- 8 Paytm Wallets India FAQs
- 8.1 Is Paytm an Indian Company?
- 8.2 When did Paytm start in India?
- 8.3 Does Paytm work outside India?
- 8.4 Is Paytm banned in India?
- 8.5 How do I transfer money from Paytm to a Bank account in India?
- 8.6 Is there a Paytm customer care number?
- 8.7 Can I buy Bitcoin with India Paytm?
- 8.8 Can I use Paytm to purchase tickets to sporting events?
- 8.9 Is it only sports that I can gamble on when using Paytm?
- 8.10 Can I watch ads and earn money in India Paytm?
If you are looking for a quick and secure payment method to use on betting sites in India, Paytm could well be for you. On this page, we will explain exactly how Paytm India works. This will include the main benefits to Paytm users in India, as well as information on processing times and potential fees. So, let’s start by taking a look at the top online bookmakers currently accepting Paytm in India.
- Paytm Payments
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- Paytm and other payment methods available
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- Paytm, NetBanking & Astropay
- Indian Rupees accepted
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- UPI & NetBanking also available
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What is Paytm?
Paytm is an Indian financial technology organization that is best known for its digital payment system. Launched in August 2010, Paytm is based in Noida and available in different Indian languages. Paytm has held a license from the Reserve Bank of India since 2015, helping the company to record an annual revenue of ₹3,187.60 crore.
It is now one of the most popular payment methods in India, thanks to its usability, speed and convenience. The company is owned by One97 Communications. Users can transfer funds to an integrated wallet, via credit/debit cards and online banking platforms. Money can then be used to purchase goods and pay for services.
Why Use Paytm Betting In India?
It is not luck that Paytm India has become so popular. Paytm deposits and withdrawals are processed safely and privately, thanks to Secure Socket Layer (SSL) encryption technology. Meanwhile, users will never face frustrating processing times, something that cannot be said of all payment methods in India. Is Paytm banned in India? Despite law changes in India, Paytm is still very much in operation. Some were concerned due to the Chinese investment in Paytm, something in which the Indian government was clamping down on.
How to Use Paytm for Betting in India
Now that you understand how Paytm works in India, we will explain just how it can be used to deposit and withdraw funds on betting sites. Both are processed quickly and easily, with the following step by step guide outline all required steps:
Step 1: Open a Paytm Account
If you have not done so already, the first step is to sign up at Paytm. Doing so will grant users access to all available services and features. Start by entering the Paytm website via desktop. Alternatively, the Paytm mobile app can be downloaded on either an iOS or Android device.
Complete the registration form by entering the necessary details. This includes your full name, date of birth, telephone number and preferred language. New customers are also required to create a password, which will be needed every time you are logging in to your account.
Before you can take full advantage of all Paytm India services and features, Know Your Customer (KYC) verification is required. This can be achieved in different ways, with relevant identification being needed.
This can be an Aadhaar Card, PAN Card or Voter ID Card. Customers can even request that a KYC agent visits their home address to complete this step. Those completing the KYC process will also increase the transfer limit when using Paytm.
Step 2: Add Funds to Your Paytm Wallet
In order to be in a position to make a Paytm deposit, customers must first add funds to their wallet. This can be achieved in a number of ways, taking just a few minutes. Start by logging into your Paytm betting bookie account using your phone number and password. Select the “Add Money” option and enter the amount. Again, select the “Add Money” button.
Here, users can select their preferred payment method, whether it be via a credit/debit card, bank account, NetBanking or UPI. Enter the relevant details and tap or click “Pay Securely”. Enter the OTP sent to your phone in order to authorize the payment. Funds will appear in your Paytm wallet within seconds.
Step 3: Deposit Funds to Your Betting Account
Login to your sportsbook account to start the process of adding funds to your betting account. Enter the cashier page, before selecting Paytm from this list of available payment methods.
Enter the deposit amount and confirm the payment. On the pop-up page, enter your Paytm login details, before authorizing the transfer. When successful, funds will appear in your betting account instantly.
Step 4: Withdraw Funds to Your Paytm Wallet
If you have placed a successful bet at a Paytm betting site, then winnings will likely be available to withdraw. Earnings can quickly be transferred to Paytm wallets India, before being spent on products and services or sent to your bank account.
Again, when logged into your betting account, access the cashier page. Select the “Withdraw” option and select Paytm as the payment method. Enter the amount you wish to withdraw and authorize the transaction. Cash will appear in your Paytm wallet within a matter of hours in most cases.
Step 5: Transfer Funds from Your Paytm Wallet to Your Bank Account
How to transfer money from Paytm to a bank account in India? Let’s investigate further. Login to your Paytm account on your preferred platform. Click or tap on “Passbook”. Select “Paytm Wallet”, then “Send Money Back” and finally “Transfer”. Enter your bank details and amount, before confirming the transfer.
Paytm Processing Times, Transfer Limits and Fees
One of the biggest attractions of Paytm is its processing times. Paytm deposits on betting sites are instant, with funds appearing in your account within seconds. On some rare occasions, players will have to wait up to 3 hours for funds to arrive. Payouts processed via Paytm are also quick. Players will generally receive winnings into their Paytm account in 5 minutes to 3 hours, depending on the bookie in question.
Transfer limits when using Paytm will again differ between bookies. On the majority of sportsbook sites, the maximum deposit via Paytm will be Rs. 10,000. While this will not meet the needs of all, beginners will find Paytm to their liking. This is because the minimum deposit amount is just 100 Rupees. Withdrawal limits range between bookies too, with beginners again being well catered for, in particular.
Those depositing using Paytm on betting sites in India will not incur any fees. However, transferring funds from your Paytm wallet to your bank account. In this case, a fixed percentage fee of 4% is in play. This is one of the few limitations of Paytm India. However, it should not put Paytm users in India off signing up.
Paytm Sign Up Bonuses and Free Bets
Part of the appeal of online betting is the bonuses and free bets offered by bookmakers. Both new and existing customers will find themselves in a position to take advantage of promotions. In most cases, a qualifying deposit will be required. Therefore, those adding funds via Paytm must ensure that this method of payment is eligible for bonuses and free bets.
While bonuses specific to Paytm are not available, plenty of promos are on offer to those using Paytm. Just be sure to read the bonus terms and conditions beforehand. Doing so will help to avoid disappointment further down the line.
Paytm Pros and Cons
The benefits of using Paytm certainly outweigh the negatives. When deciding whether Paytm India is for you, it is important to consider all pros and cons. Following extensive testing of Paytm, as well as other payment methods in India, it is the following pros and cons that were uncovered:
What We Like:
- Free Deposits – Adding funds to your betting account using Paytm will never come with any costs. As such, customers can bet with 100% of the money transferred.
- Rupees Accepted – As you would expect from an Indian company, Rupees is an accepted currency when using Paytm. Because of this, there are no conversion rates to worry about.
- Secure Payments – Both deposits and withdrawals with Paytm India are processed safely. Paytm is regulated by the Reserve Bank of India, while additional security measures are in place to protect customers.
- Mobile App – The Paytm mobile app makes transferring money on smartphone or tablet quick and simple. Available to download on both iOS and Android, via the App and Google Play Store’s. With mobile betting apps in India being so popular, this is an important benefit of Paytm.
What We Don’t Like:
- Withdrawal Fee – Moving money from your Paytm wallet to your bank account will incur a 4% processing fee. So, whether you are betting on Kabaddi, cricket, soccer or others, be sure to keep this in mind.
- Strict Verification – Setting up an account with Paytm is not easy. This is mainly due to the strict verification requirements. Newcomers must complete KYC procedures, which can be time consuming.
Bottom Line on Paytm Money Transfer India
Paytm is one of the most popular online payment methods in India today. Allowing for quick deposits and withdrawals, Paytm India is also convenient, secure and regulated. While fees are incurred when moving funds to your bank account, this is a minor negative for most. Paytm makes it possible for players to qualify for bonuses too, another major selling point. So, check out our recommended Paytm India sites, before signing up with your preferred bookies.