PayTM Background and History
Paytm was created in August 2010 and got its name through the phrase “Pay through Mobile. It is a huge multinational company that deals with digital payments, e-commerce, and financial services. In 2022, it is one of the largest financial-technical companies, valued at more than $15 billion. Using this payment system, Indians can pay for utilities, mobile communications, tickets to various events, and so on. It is available in 11 Indian languages and is free to use. At the moment Paytm app (which is India’s first payment app) has more than 100 million downloads.
The popularity of the company is due to the fact that it does its best to achieve maximum user comfort in the area of payments. Paytm is also known for being a major sponsor of sports cricket tournaments (including the Indian Premier League) and for actively supporting the Mumbai Indians team.
Benefits of Online Betting with PayTM
Paytm is currently the most used payment system among bettors from India. The fact is that it has a really good set of strengths, and the features are made with great attention to the interests of users.
Among the most important beneficiaries of the Paytm India payment system are:
- High user data protection system;
- Approved by the Reserve Bank of India;
- Easy top up in several ways in a couple of clicks;
- Payments are as fast as possible;
- Paytm Wallet is accepted at all QR Code payment gateways;
- Paytm Wallet offers you 24/7 customer support;
- Available in 11 Indian languages.
All this ensures that any user has the maximum level of comfort. And most of the best bookmakers for betting in India have this payment system as one of the deposit and withdrawal methods because they understand that Paytm is a great choice for any bettor!
Supported Payment Methods of PayTM
Paytm constantly monitors the relevance and effectiveness of payment systems popular among Indian users. For this reason, Paytm Payment Gateway supports several payment methods to accept payments from users.
You can see the current list of supported Paytm payment systems in the table.
|Paytm Payments Bank Limited||+|
Advantages and Disadvantages of Payment Method
|Your money is instantly displayed on your game account after you confirm the money transaction||You must be verified before using Paytm|
|Available in 11 Indian languages||Sometimes fees are charged for withdrawals via Paytm|
|Indian rupee deposits and withdrawals||Not all bookmakers have Paytm as a payment system available for money transactions of players|
|Fast speed of money transactions (deposits and withdrawals)|
|High-security level due to SSL encryption|
|Monthly limits of up to 1,000,000 rupees and the daily limit is 100,000 rupees|
Simple and Easy Guide to Create an Account
To start making quick payments with the Paytm payment system, you need to create your own account. In order for you to do this as quickly as possible, we have prepared an easy guide for you.
Download and install the app
Depending on what operating system your gadget supports, go to Google Play or the AppStore and type “Paytm” in the search bar. Next, download and install the app.
Create an account
Open the application through the icon in the menu of your gadget. Next, click on the create account button.
Enter Your Valid Info
Now you need to complete the free registration process by filling in the fields with the requested data. Enter your phone number and you will receive an SMS with an OTP code. Enter it in the window and finish your registration.
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Start Betting with PayTM
So that you can easily use Paytm for your deposits and withdrawals on bookmakers’ websites or apps, we’ve prepared all the information you need to get started. Study it and you’ll be able to use Paytm quickly as needed.
Step-by-Step Guide of Opening a Paytm Account
After installing the app, every Indian user needs to create and verify an account to start using Paytm. To do this, log in to the app and follow the steps below:
Enter your Valid Info
On the registration page, enter the phone number in the special field and click on the confirmation button.
Enter the OTP code
In the special field, enter the code that came to you via SMS and confirm the information. This is done to confirm the phone number.
Bind bank account
Add your bank account to the Paytm app so you can use it for payments to be able to use paytm upi when needed. Simply add a cell phone number registered with the bank, which will be used to link your bank account to the Paytm app
You can complete this verification using your ID document. Aadhar Card, Passport, Driver’s License, NREGA Job Card will work as such documents.
The Paytm team will now review your information and approve the account verification.
Step-by-Step Guide of Funding Your Paytm Wallet
In order to make quick payments, you need to top up your account with cash. It will only take you a few minutes to top up your Paytm wallet. So that you can easily and easily do it we have made for you detailed instructions:
- Open the application. Login to the Paytm app through the icon on your screen and log in if you haven’t already done so;
- Select “Paytm Wallet”. Here you need to enter the desired amount of recharge in a special field and click “Add Money”. This will take you to the desired page;
- Select the payment system. Here you can choose one of the payment systems supported by Paytm (UPI, Credit/Debit card, Netbanking, etc). Click on the one that is most convenient for you;
- Confirm the transaction. You will be taken to the encrypted money transaction page, where you will have to enter payment details and confirm the payment.
Depositing with PayTM
After you have created and funded your Paytm account, you can use this payment method on the betting sites or in the applications of bookmakers who support it. This way you will be able to refill your gaming account with real money and start betting.
In order to do it quickly a user from India needs to:
- Log in to your account. Go to the bookmaker’s website or app and enter the details from your gaming account. Create one if you have not already done so;
- Click “Deposit”. Go to the menu of your gaming account and click on the real money deposit button;
- Select “Paytm”. Once you’ve navigated to the money transaction selection page, find Paytm and click on it;
- Enter the amount and confirm the transaction. Navigate to the money transaction page and confirm the transaction by entering the requested data in the specific fields;
- Place your bets! Now your game account is successfully funded via Paytm and you can see the changes in the balance of your account. The money is displayed on it instantly after the confirmation of the transaction. You can choose a sport discipline, match, odds and make your bets for real money.
Conditions of Depositing for Online Betting
In terms of deposits Paytm is as handy as possible, because payments have a fast processing speed and are supported by many bookmakers. At the same time there are some peculiarities:
- There is a minimum deposit amount (Rs 500), it varies depending on the bookmaker;
- You will need UPI ID and 4 digit MPIN for deposits with Paytm;
- Money is displayed in your playing account instantly after the transaction is confirmed;
- Players are not charged a fee when making a deposit;
- You cannot make deposits to bookmaker sites without KYC verification.
Perhaps, these are all the main features you need to know in terms of deposits with Paytm.
Withdrawing with PayTM
When you have won some bets and want to withdraw your earnings from the bookmaker’s game account, you can also use Paytm. The algorithm for this is very simple, and all you need is:
- Login to your account. Go to one of the bookmaker’s platforms and log in with your personal account username and password;
- Click “Withdraw”. Navigate to the gaming account menu and click on the withdrawal button to get to the method selection page;
- Select “Paytm”. On the payment systems selection page, find “Paytm” and click on it;
- Enter the amount. In the special window, enter the amount of money you want to withdraw to your Paytm wallet;
- Confirm the application and wait. Click on the button to confirm your withdrawal request and wait while it will be reviewed and approved by the specialists of the bookmaker’s company. As soon as this happens, the amount of money will be sent to your Paytm.
After that, your won and withdrawn money will appear on the balance of your Paytm wallet (you can see the balance in the app).
Conditions of Withdrawing for Online Betting
As with deposits, Paytm has a number of features that apply to withdrawals. Most often these peculiarities are imposed primarily by betting companies, not by the Paytm India payment system. Among the most important peculiarities that players face are:
- Withdrawals will be displayed in your account within 1-2 business days;
- Bookmakers set their own minimum withdrawal limit using Paytm;
- Bookmakers themselves set the processing time for the withdrawal request from Paytm;
- To withdraw with Paytm (as with any other method) you must have a verified account with the bookmaker.
Perhaps, these are all the most basic features concerning withdrawals. Paytm for its part does not limit the players and these features are more about the bookmaker.
Transaction Money from Indian Banks to PayTM
In order to make payments (including on the bookmaker’s website or in the app) through Paytm, you must have money on your balance. You can top up your balance quickly and easily, and we have detailed instructions for this.
To deposit rupees to Paytm you need to:
- Add money to your Paytm. Click on add money to your wallet, where you will be prompted to choose one of the top up options. Click on the one which suits you;
- Enter information. Fill in the information you would like to receive about the chosen method of depositing money to Paytm. If you have chosen a card, you will need to specify the details;
- Confirm the deposit. Enter the amount in the special window and confirm the deposit of funds on Paytm.
The money will then quickly arrive in your wallet and you can use it however you want. They will be displayed on the main Paytm screen.
Paytm-Allowed Indian Banks
Paytm is a multinational company in India that is supported by government agencies. It is an important link to economic interaction in India and is used by a huge number of people who value convenience. For this reason, the largest banking organizations in India accept Paytm. There are more than 150 in total, of which we can highlight:
- ICICI Bank;
- State Bank of India;
- Bharat Bank and many more!
Paytm is a new era in the comfort of payment transactions, which is actively developing and becoming even more comfortable to use.
Safe and Secure Betting with PayTM
A very strong point of Paytm is the high degree of security of users’ data and money. There are several basic theses that make betting with this payment system safe. We have highlighted the most significant of them:
- Paytm has its own system of internal encrypted SSL servers;
- Paytm does not share your bank account details with the bookmakers;
- The passwords you set are used to access any transactions on Paytm wallet;
- Strict user verification system provides full protection from intruders;
- State-of-the-art firewall and anti-virus protection.
These factors ensure that your betting is safe because your information and funds are protected on multiple levels. Using Paytm for money transactions, you get fast, easy, and secure money transactions, which makes it comfortable when dealing with bookmakers.
The Best Alternative Payment Methods for Cricket Betting
Paytm is definitely a very convenient payment service with which you will have a pleasant betting experience. At the same time, there remain other multifunctional payment systems in India, which provide a high level of comfort. Some of these include:
They are all unique in their own way, and you can use them as an alternative to Paytm if you find something suitable because they are all very user-friendly and will facilitate comfortable betting!
We have compiled a list of the most frequently asked questions that users have when using Paytm for their betting. Study our answers to better understand the Paytm payment system definition and avoid unnecessary difficulties when using it.
Is it Legal to Use PayTM?
Of course, because Paytm is a large Indian technology company that is integrated into the domestic economy and operates strictly within the legal framework. The organization is regulated by the state authorities of India and the company has a full set of necessary documents and licenses.
Can I Bet Using PayTM?
Yes, because bookmakers understand that it is one of the largest and most popular payment systems in India. Paytm is actively supported by leading bookmakers and you can use it to deposit real money into your betting account and bet on sports games. Subsequently, you can bet with this money and easily withdraw it using Paytm. The system is very convenient and will quickly like you after the first game for real money.
Is it Safe and Secure to Use Paytm for Your Money Transactions at Bookmakers?
Yes, because money security is one of the top priorities of the company. The team of specialists is actively developing the latest SSL encrypted server security systems. Paytm does not share any personal banking information with the betting companies. Even if the bookmaker has some kind of malfunction, no one will get your data. For this reason no one but you will have any access to your funds in Paytm wallet.
Are There Any Limits on the Use of Paytm on Betting Sites and Apps in India?
Paytm for its part does not restrict users from making money transactions with bookmakers. Every bookmaker which supports Paytm has a unique set of restrictions. You can read about these restrictions in the “Terms and Conditions” section of the site or app, or request it from the bookmaker’s support team.
Mehdi Mckinney, sports journalist, cricket analyst and sports forecaster. Professional bettor.