Paytm is one of India’s largest and most popular online payment gateway service providers. Paytm business account offers an extensive range of services to merchants and customers alike. It has over 7 million merchant users in India who get efficient mobile payments from credit or debit cards, bank accounts, and digital wallets among others.
Digital payments have become a necessity after being a trend for a short time. The growing need for online transaction services has resulted in the launch of numerous such service providers and apps. Paytm is credited for having launched the first QR-based mobile payment system in India and has also launched Paytm Payment Banks to ensure even more efficient digital payment services. The Paytm Business Model is an all-round solution for all your digital payment needs.
What is Paytm business model?
The Paytm business is an efficient e-commerce platform that also provides:
- Digital wallets
- Banking options
- Service recharges
- Bill payments
The Paytm for business app is the latest in line of digital payment services launched by the leading online payment platform. The Paytm business model is mainly designed to ease the regular digital payments and transactions for merchant users. Apart from allowing merchants to accept online payments on the marketplace, the Paytm business app also allows extensive analysis of previous transactions and provides detailed history of payments made to their bank accounts. The Paytm for business app is available in English, Hindi and 10 other regional languages and is ready for download at Google Play Store.
How to Activate Account on Paytm for Business?
You will first need to sign-up with Paytm for Business which takes only a couple of minutes in order to receive your Paytm business login details. If you have an existing Paytm account, then you can use that or choose to create a new Paytm business account.
In case you have smaller requirements for regular digital payments, then you can activate your Paytm business account with very few documents. Here is the complete list of documents that you would need to keep handy if you wish to activate your Paytm for business account:
Proof of Company
(Requires any ONE document from below as proof of company for activating Paytm business app)
- Registration Proof
- Regional State Registration Certificate
- Shop Establishment Act Certificate
- GST Certificate
- Municipal Corporation Department Certificate/License
- Utility Bill, such as Telephone bill, Electricity bill, Water bill, etc (maximum 2 months old)
Ensures that Registration Certificate or Business Proof is in the name of the firm and confirms registered address.
KYC of the Authorized Signatory
(Requires any ONE of the following documents)
- Passport
- Driving License
- Voter ID Card
- Aadhar Card
- NREGA Card
Ensure that address proof is in the name of registered proprietor with front and back of address proof.
Proprietor’s PAN Card
A copy of PAN Card of the proprietor is required for this.
Bank Account Details
A canceled cheque or a bank-attested letter will be required for this.
The cheque should have the name of the proprietor and the name of business printed clearly on it, otherwise, the bank-attested letter on the letter-head of the company is required.
GST Documents
Declaration of GST (Non-Enrollment) or GST Certificate is required for this.
Ensure that the GST documents have the GSTIN printed clearly on them, along with clear business name and address as mentioned in the registration documents.
How to use Paytm business app?
The Paytm Business app is designed to make commercial online payments more efficient and secure for merchants. The app is able to automatically categorize the various types of digital transactions into different classifications, which also includes all merchant bank transfers.
You can easily use Paytm business app by simply generating a QR code and putting the QR code on display at their brick-and-mortar stores. The customer simply needs to use their smartphones to scan the merchant’s QR code and the payment is instantly transferred to the merchant’s bank account.
How to keep your Paytm business account secure?
You can keep your Paytm business account secure by ensuring:
- Use of OTP on your registered mobile number
- App or Screen Lock can be activated as the 2nd layer of security for your Paytm business app
How to complete KYC for your Paytm business account?
It is easy to complete the mandatory verification for your digital payment app. Here are the simple steps to complete KYC for your Paytm business account:
- Log in to the Paytm Business app
- Tap on the “Nearby’ button on screen
- Tap to choose “Upgrade Account” option
- Choose the required locations from the drop-down list and visit the address for completing KYC
(Remember to carry you Aadhar Card or PAN Card as an ID proof for completing KYC for Paytm business account successfully.
Is it safe to use Paytm for business app?
Yes, it is extremely safe to use Paytm for business app as the company ensured optimal online security for merchants and customers alike. The digital payment app uses the latest encryption technology to encode sensitive and financial details being shared from the customer to the merchant.
Simply scanning the QR code on display at the merchant store will establish a safe and secure connection between the customer’s online payment app and the Paytm for business app of the merchant.
What is Paytm business customer care number?
Paytm business customer care is extremely efficient and expert at managing and resolving customer (merchant) queries promptly.
Here is a list of Paytm business customer care numbers that you can call according to the issue you are facing:
- Banks, Wallets and Payments Issues – Call 0120 – 4456 – 456
- Movies and Events Tickets Issues – Call 0120 – 4728 – 728
- Paytm Mall Shopping Orders Queries – Call 0120 – 4606 – 060
- Paytm Travel and Forex Issues – Call 0120 – 4880 – 880
Paytm business app customer care is open 24/7 to serve its millions of customers with maximum efficiency at all times.
Conclusion
It is clear from the above details that Paytm Business app is one of India’s most-used and safest online payment gateways for e-commerce business owners. If you own a conventional retail store or own an online shopping website, then it is highly recommended to download and install the great Paytm for business app now on your smartphone to ensure smooth, safe and streamlined digital payments from your customers.
