PayTM – The best payment method for Indian online betting
There is a new digital ATM platform in town to support all of your betting desires. PayTM was founded in August 2010 by Vijay Shekhar Sharma in Noida, a region adjacent to India’s capital New Delhi. Vijay’s vision for PayTM really skyrocketed after a ban on high-value currency notes in India in late 2016 which led to a cash crunch and spurred the need for digital payments. It started off as a prepaid recharge platform but has evolved significantly into a safe and secure mobile and landline payment method perfect for sports betting!
Today PayTM benefits from 95 million monthly active users, and is growing by ~5% month-on-month. It expects to grow to 500 million users by 2022. PayTM is now India’s largest leading payment gateway with over 7 million merchants using PayTM as an acceptable payment method using their leading QR technology. PayTM has also launched their Paytm Payments Bank, which is a community support project that their team of engineering experts have been working on to close the gap on banking and financial services and security for half-a-billion un-served and under-served Indians.
How does Paytm Work?
PayTM is a digital payments method that allows you to make online (and offline if required) transactions like processing your winning bets into the integrated wallet via online banking, debit cards, and credit cards, or depositing cash via select banks. This payment platform is super versatile allowing Indians to use the digital PayTM money wallet anywhere to pay for anything. PayTM allows you to pay for everything from household goods, takeout food, ecommerce purchases, mobile phone bills and most importantly PayTM allows Indians to put money into their sports betting account to bet on their favourite teams in the latest and greatest major sporting events!
The idea is that it should seamlessly integrate into your preferred sports betting platform if they support the PayTM payment platform. The Unified Payment Interface (UPI), a state-backed open platform, allows people to send money to each other and directly into bank accounts by linking mobile numbers.
How do you add money to your PayTM wallet?
Credit Cards, Debit Cards, Net Banking and UPI (Unified Payments Interface) all allow you to add money to your PayTM wallet. It’s quite simple to add money to your PayTM account, you just enter the amount of money that you want to add to your Paytm wallet. Once you’ve done that the app will be redirected to a secure webpage to fill in your payment information. After you provide all the necessary information, money is added to your wallet almost immediately.
Thankfully PayTM does not charge any extra fees to transfer money to your Paytm wallet. For speed of service transactions all card information is normally automatically saved into your account and only requires the CVV number to reactivate the account and process payment transactions again.
What Sports can Indian Players Bet on Using PayTM?
The short answer is all of them! Once you’ve set up your PayTM account it’s time to let the games begin! From IPL betting and other cricket to football, Esports, Kabaddi to motorsports and winter sports. PayTM is one of the biggest and best payment solutions in India. Rest assured that you can use it on all of the best online casinos and betting sportsbooks.
PayTM – Pros and Cons
Now that you have the right payment platform and know where to place your bets we’ll wrap up with the Pros and Cons of PayTM. The best feature of this app is its ability to link your Paytm account to your betting account fairly easily and seamlessly. You can use Indian currency to place your bets so there is no extra cost for conversion, Deposits are instantly reflected in your betting account and players can place bets straight from your device as the whole process is mobile friendly.
Let the games begin and the bets roll in
Although there is really not much to complain about with regards to using PayTM the platform does not currently support offline transactions for all sports betting platforms which means that without an internet connection, you will not be able to process your wins or deposits. With new technology comes new technical difficulties, using any new app or program requires some adaptability but thankfully this one is quite user friendly. Lastly, customers should be aware that PayTM wallet to bank account transfers are chargeable at a 5% convenience fee.