Paytm wallet was introduced years ago and during that time, it made it easy for people o recharge a mobile phone, pay bills, and other such things. It is reliable and it offers multiple modes of payments for the user. So here this article gives the advantages ad disadvantages of Paytm to better understand this topic.

Pros or Advantages of Paytm wallet:

1. It is quick and safe.
2. Widely accepted today.
3. Paid bill payment, recharge book ticket, and lots more in a single application and keep track of everything under order history.
4. Good wallet limits.
5. Easy and automatic refund to Paytm wallet in case of product cancellation at partners store.
6. When you need money, simply return it to the same bank.
7. Money can be transferred from Paytm to a bank account for as little as 4%.
8. Keep your wallet loaded and you don’t need to carry a debit or credit card means fewer chances of being a fraud.
9. Less document to upgrade Paytm wallet limit.
10. Paytm also offers free bank-to-bank transfers through UPI, such as Phonepe BHIM or Google Pay.
11. Get cash back on most of the stores using Paytm wallet.
12. Use your credit cards to load money in your Paytm wallet and earn reward points.
13. If you don’t have enough money, you can use Paytm to pay with the card.
14. Avail Paytm postpaid if you have a good history with Paytm same as credit card and pay later.

Cons of Disadvantages of Paytm wallet:

1. Currently unavailable on at least all prominent websites such as Amazon and Flipkart.
2. It will charge the merchant in the future to accept payment from customers, as nothing comes for free in this world.
3. You could be charged up to 4% for transferring money from Paytm to your bank account.
4. Since it isn’t available in most big online and offline retailers, you’ll need to keep your debit/credit card on hand if you want to shop there.
5. Due to security concerns, a lower monthly cap, or the desire to make black money, a few merchants have refused to accept Paytm money.
6. Sometimes the application doesn’t work properly as it comes with the loss of services combined in a single app.
7. If you lose your phone, you can lose your Paytm cash because they don’t have email id authentication.
8. Using the internet to pay for things rather than using cash or a credit card.
9. Worse customers support in case you need help while shopping/cancelling/returning items.
10. It can take up to 7 days for the money to be credited to the bank account if you return products on Paytm, but it is free always.

Thank you for reading this article. If you have any queries regarding our article on the Advantages and disadvantages of Paytm then do comment in the comment section below.

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Author Profile

Divya Chauhan

Divya Chauhan is an expert writer with 10+ years of experience as a content writer. They specialize in making complex topics like IT, Health, and general topic easy to understand. Divya has written over thousands of articles to help people with their content. Prior to joining Way2benefits’s editorial team in 2020, Divya worked as a Professor of BCA college and freelancer blogger.

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