Get paid for paying bills with Paytm
You read the title of this post correctly – get paid for paying your bills with Paytm (Pay Through Mobile)!
Paytm is new to Canada but not new elsewhere. Paytm is a large (and growing) company that started in India in 2011 and is short for the phrase “payment through mobile”. They’ve been expanding rapidly. They’ve got resources to do that – their largest shareholder is tech giant Alibaba. So they’re clearly not some “off the street” fintech.
As I learned recently, Paytm is a simple all-in-one place to pay a bill, check bill due dates, set-up preferred payments and much more. It’s a bill payment service that pays you back – and it’s free.
Their online platform is great and easy to navigate. I’m a new user myself – here is a screenshot from my phone.
Using Paytm, you can set up as many bill payments as you want.
Our recurring monthly billers are there and with 5,000 of them to access, I bet yours are too:
- Enbridge gas – we pay that every month,
- Hydro One – same as above, and
- Rogers internet and cable (yes, cable. I love my live sports and I’ve been very reluctant to give that up!)
As long as we need to pay our monthly bills (or make routine purchases) I might as well get rewarded and that’s EXACTLY what Paytm allows you and I to do.
First, how do you get the app?
Use my promo code below. In doing so, you’ll get $10 and so will I. See details below:
Second, how easy is Paytm to set-up?
The simple step-by-step set-up process walks you through everything in a handful of steps.
Third, how do you and I get paid?
Now that you’ve got the app installed, you can add money to your Paytm Cash balance through a variety of ways:
- Go old school by visiting your nearest Canada Post location, show them the QR code on your Paytm app and add money by cash or debit,
- Make an Interac e-Transfer to Paytm (this is the process I use the most), or
- Link your bank account to Paytm.
Now that the Paytm cash balance is there – pay a bill. Get rewarded more over time. That’s it. You can use your credit card to pay your bills but then you won’t be able to take advantage of their rewards to the fullest.
With the basics in the palm of your hand, here are some answers to some questions I thought you might have about this app, including any further reading you want to take on.
Why should you switch to using a digital wallet like Paytm?
To simplify your bill-payment-life and earn some rewards in the process. I think users will also enjoy what I’ve been impressed with so far, the customer service from Paytm. When I had a question or a concern, including my interac money transfer to my account, Paytm responded to me quickly. If you have a question for them you can find Paytm staff via social media, email and more.
What about this Rewards marketplace? Is it any good?
I think so. With the Paytm app and using that Rewards marketplace, you can get up to 15% cashback on purchases from brand-name retailers such as Tim Hortons, Amazon.ca, Best Buy, Esso, Indigo, Foodora, Just Eat and more. I learned they have a BIG announcement coming up soon which should give prospective customers even more reasons to use Paytm. I’m interested to see what this major announcement is…
How secure is my (or your) personal information within the Paytm app?
For me, this is a big concern actually. Paytm recognizes personal information and security is probably your utmost concern as well. I asked them about this – I learned their systems and processes follow strict, security standards and requirements for information security management systems. Paytm uses the same encryption technology that most Canadian banks use. Combined with the ISO standards they follow, they consider themselves as safe, if not safer, than many of the Canadian banks.
I would suggest if you have any concerns before you try Paytm, ask them as many questions as you want. Including anything related to security.
What if, for whatever reason, you want to leave Paytm – remove the app. What happens with that personal information and data?
Great question – I thought of that one myself!
This is what they told me: “…if this app doesn’t work for you (although we think you’ll like it long-term) you can remove the app and stop using our services. Your personal data is securely stored in our servers using bank grade encryption techniques. Consider this similar to closing a bank account at one of Canada’s big banks – where do you think they put that bank information? They need to store your old customer information securely even if you’re not a customer – and we do the same.”
What else can you use Paytm for?
Besides paying your bills, you can consider using Paytm for two other important things:
- Use gift cards for personal use to save money:Just because they’re called gift cards doesn’t mean that you can’t use them for personal use! Like I mentioned above, you could get HUGE cashback amounts on your everyday purchases at Tim Hortons, Amazon.ca, Indigo, Foodora, Just Eats and other such brands. So before you buy anything at these stores, just buy the “gift card” on Paytm for personal use and start saving more money.
- To instantly send and receive money to friends and family across Canada:Whether you’re sending $1.00 or receiving $500 it doesn’t matter because with Paytm we won’t charge you a transaction fee or a convenience fee. No need to enter a security question or worse try to remember yet another password. Next time when you’re hanging out with your friends and realize that you’re cashless, just open the app and send money to them right there.
Paytm appears to want Canadian business – bad – so they’re after some market share by offering some great incentives in this app. There is a big announcement coming up and likely more promotions in the future. Will the promotions slow down? Will their Rewards marketplace change over time? Who knows. If I knew the answer to future questions I would probably be far wealthier and have no mortgage!
For the time being I’ve added this app to my phone. I’ve started to put some money into the Paytm cash account. I intend to use the app to start paying some common bills around our house – here and there – over the coming year. In doing so though, I won’t give up on my current bill payment practices just yet but I’m willing to give this a try. I will use Paytm to put some cash back in my Paytm wallet to shop with the brands they have affiliations with – Amazon.ca is one we use often. I might as well get some deals while the getting is good.
Again, check out my no obligation referral code: PTM9554766. You sign up, you get $10 and so will I after your payments add up to $50. After you get registered with Paytm, you can get your own referral code and share them with your friends.
Have you tried Paytm? What are your thoughts on using a digital wallet? Are you currently using any digital wallet? Why or why not?