India’s leading digital ecosystem for consumers and merchants (1) Paytm has today announced cashback & other rewards for post-paid mobile bill payments. On every bill payment, users can now get rewards of up to Rs. 500. They will also get up to 5000 assured cashback points on every bill payment, which can be redeemed for amazing deals and gift vouchers from top brands.
These offers are applicable on all bill payments for postpaid services from Jio, Vi, Airtel, BSNL and MTNL. Besides availing rewards for recharges & bill payments, users can win additional cashback by participating in the company’s referral program. Whenever a user invites friends & family to start recharging on Paytm, both the referrer and the referee earn up to Rs 100 cashback.
To bring more convenience to its users Paytm has recently enhanced its mobile bill payment experience with features such as 3-click instant payment and a user-friendly display of plans. Unlike other platforms which restrict users to UPI, Paytm gives its users the flexibility to select their preferred payment mode from Paytm UPI, Paytm Wallet, debit and credit cards, or net banking. Users can also choose to pay using the post-paid feature, which enables them to recharge now and pay later. Paytm also seamlessly reminds the users about their latest bill amount and due date.
Paytm spokesperson said, “Over the last several months we have seen a significant shift in the way mobile users across the country pay their phone bills. More people are realizing that they do not need to stand in a queue or go to the nearest drop box just to pay for a utility bill. Several of our users from small towns and cities are now paying mobile phone bills online in a fully digital and hassle-free manner. Looking at the growing trend we have now decided to incentivize such payments and offer them 100 percent cash back, and reward points. This will further encourage our users to make mobile phone bills on the Paytm App."
Paytm offers mobile recharges and bill payments and continues to serve millions of users in this segment. Paytm users can also make payments for their electricity bills, credit card bills, cylinder bookings, and many more day-to-day needs from the comfort of their homes.
About Paytm:
Paytm is India’s leading digital ecosystem for consumers and merchants (1), and offers payment services, commerce and cloud services, and financial services to 333 million consumers and over 21 million merchants, as on March 31, 2021. Paytm is India’s largest payments platform (1) based on the number of consumers, number of merchants, number of consumer to merchant transactions and revenue, as on March 31, 2021, and with a GMV of ₹4,033 billion of FY2021. One 97 Communications Limited (“Company”) is the largest payment gateway aggregator in India for FY2021 based on total transactions, with the widest ecosystem of payment instruments (1). The Company’s lending business (offered in collaboration with financial institution partners), includes personal loans, merchant loans, as well as its Buy Now, Pay Later product i.e. Paytm Postpaid. The Company’s financial institution partners disbursed 1.4 million loans in Q4FY21.
Disclaimer:
“One97 Communications Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the draft red herring prospectus dated July 15, 2021 (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, and the websites of the stock exchange(s) at ww.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP / Prospectus, when available. Potential investors should not rely on the DRHP for any investment decision.”
(1) Source: Report titled “The Digital Transformation of Payments and Financial Services in India” dated July 15, 2021, prepared by RedSeer Management Consulting Private Limited.
