The Paytm wallet practically started the digital payment revolution in India. While many websites used to allow users to make digital payments using debit and credit cards, or net-banking in the early 2010s, the PayTM wallet is what brought the idea of portable, anytime available money truly to the fore.
The idea was simple: download the Paytm app on your phone, and add money from your bank account to the wallet the same way you would for making a payment on an e-commerce website or elsewhere. But instead of having spent that money, PayTM would hold this money for you in a digital wallet, which could then be used for buying and paying for other items, like phone recharges and cab rides.
Since a digital wallet didn’t conform to the usual banking norms, you could have automatic payments and other features too. But the one problem that users often had was that the Paytm wallet could only have the amount of cash that you had in your bank account. That is, until Paytm started allowing users to fill cash on the site using credit cards.
Now, the wallet is not only an extension of your bank account, but also the amount of credit you have to your name.
Here’s how to add money to Paytm wallet using a credit card
Adding money to the Paytm wallet from a credit card is not too different from adding money using net banking or debit cards. You can also transfer the unused balance from the money added to your wallet back to your bank account without any additional charges.
To add money to the from a credit card, you first need to open the app and tap on the Paytm wallet option, which shows up under the MyPaytm option on the app’s homepage. This will lead you to a page that shows the balance you have on your Paytm wallet, and it will be zero if you have none.
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Underneath the balance, you will see the option to ‘add money to your Paytm wallet’. You enter the amount you want to add on the text box here and tap the proceed button below, which will take you to another page that shows you different payment options.
For those who already have a credit card added, the card should show up on this next screen. But if it doesn’t, then you have to simply tap the credit card option under ‘new payment modes’, enter your card details and save them.
Next, you click on the ‘Pay’ button that shows up below and the app will ask you to enter the credit card’s CVV number. Once a credit card is saved, you will only need to enter the CVV number and then an OTP on the app whenever you want to add money using the credit card. For security purposes, the app will only ever show the last four digits of your card.
You don’t necessarily have to store the card details on the Paytm app, but it makes adding money from a credit card much simpler. If you don’t save it, you will have to enter the credit card number, and all its other details every time.
