Aadhaar linking: Paytm offers exclusive benefits to customers

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Aadhaar linking: Paytm offers exclusive benefits to customers

Aadhaar linking: Paytm offers exclusive benefits to customers with KYC completition, details inside

Mobile wallet firm, Paytm has now offering exclusive benefits to its customers who have completed the KYC process. The Reserve Bank of India last month had denied to provide any extension to the February 28 deadline for mandatory KYC-compliance by prepaid wallet customers.

However, customers who have balances in such wallets or prepaid payment instruments (PPIs) need not worry about their money even if they do not do the KYC (know-your- customer) norms, the central bank had then said.

RBI’s new guidelines regarding the KYC wallet had been implemented from March 1 have mandated companies offering mobile wallets to ensure their customers undergo KYC (Know Your Customer) for a more seamless experience.

To keep using your Paytm Wallet, you can simply update the document number of your Aadhaar , PAN , Passport, Voter ID, Driving License or NREGA to do your minimum KYC. This takes seconds, but comes with limited benefits and is valid for only 12 months – you can store up to Rs. 10,000 as your Paytm balance, and make payments at merchant outlets.

Here’s how to do it: Tap on the KYC icon on your Paytm app

Enter your Aadhaar Number and name as it appears on your Aadhaar Card

Kindly enter the OTP received in your Aadhaar linked Paytm number

Cross-check your Aadhaar details to ensure its you

Enter some basic details such as your Marital Status, Father’s name, Mother’s name, etc. You are now an Aadhar KYC verified customer, and if you stop here, your KYC will be valid for one year, with ability to transfer to another Paytm wallet or a Bank Account. However, the total credit to your wallet will be restricted to Rs 2 lacs per annum.

Navigate to your nearest KYC outlet, or enter your address for KYC verification at your doorstepYour KYC details are verified.

Incase you don’t have your Aadhaar Card, you can still become a full KYC customer by entering your Voter card, NREGA card, Passport and Driving license number and then request in-person verification by walking into your nearest Paytm KYC point or getting it done at your doorstep.

All Paytm full KYC customers receive exclusive benefits including unlimited spending from their Paytm Wallet, storing upto Rs 1 Lakh in their Paytm Wallet, sending up to Rs 1 Lakh to another Paytm user & sending up to Rs. 25,000 to their bank account every month, receive Paytm cashback, option to get a free Paytm Payments Bank account in less than a minute and also Rs 200 cashback.

Source by:- dnaindia