Many people have many kinds of queries that they want to know. Same here is a query that is “Can Under 18 Use Paytm?”
What is Paytm?
Paytm is an Indian company that allows users to pay cashless in India. It is the largest e-commerce platform in India, allowing users to purchase goods and services using its payment gateway. As of February 2015, Paytm has over 60 million registered users, of which about 40% are paying customers.
It allows merchants to accept payments through its mobile application (app) and through other payment channels (for example by charging a percentage on top of the regular transaction amount).
Paytm was founded in 2008 by Vijay Shekhar Sharma, which was bought by eBay in 2012. The company has numerous partnerships with other companies such as Flipkart and Amazon.
Also Read: What is The Meaning of Trail Mail
Paytm is a mobile wallet. It is a digital wallet. It stores money and your data on the device and keeps it safe. You can use the app to make payments, buy goods, and send money to someone you love.
It’s popular because there are very few other ways that you can use your phone to transfer money. The app also offers banking services, joining a financial club, and investing in mutual funds.
The company has raised over $2 billion in funding so far, valuing the business at $7 billion, which makes it one of the most valuable startups in India. The UPI service is being used by many companies like Reliance Jio, Uber, and even Paytm itself as an alternative to banking services provided by banks.
What makes Paytm unique is that it has evolved from one of the lesser-known UPI apps on the Indian market—it was launched in 2014—to becoming one of the leading recipients of investment from global venture capital firms like Sequoia Capital China and IDG Ventures India.
Paytm has come a long way from just being an app for making payments to now also being a leader in banking services for its customers (including banks). The company also plans to become an advertising platform by offering users branded ads targeted at specific demographics such as women or youth (who pay more than men).
Also Read: What is the meaning of Chapri?
Paytm also plans to launch its own mobile-based payment system called “Paytacash”, which will be available in partnership with BHIM (Bank of India’s Unified Payments Interface) mobile payment application that offers merchants online payments through their bank accounts.”
Can Under 18 Use Paytm?
Yes, minors who are under 18, can use the Paytm app but with their parent’s documents. Also, Paytm offers No KYC need for UPI uses which means minors who have a bank account and if that supports UPI then the minor can use only UPI services from Paytm.
Can Under 18 Do Paytm KYC?
No, Under 18 or minors are not eligible to do KYC of Paytm because to do KYC users should be 18 years old or more. But, minors under 18 years can complete KYC by using their parent’s documents.
Also Read: Tamilrockers Current Link
What is a UPI
UPI is a Smartphone Payment Service. Paytm is a mobile app that allows you to do everything from purchasing goods and services to paying bills, transferring money, and more.
UPI is a one-stop-shop for all your payments. It lets you send money, receive money, and make online payments easily.
Paytm also has an app called ‘Paytm Wallet’ which functions like a bank account on your phone with the ability to pay bills or buy things using your UPI credentials. You can also transfer money into and out of your wallet while on the go.
And because it’s all done on the go, Paytm says cards are not necessary to use UPI apps like its own Paytm Wallet app but only need to download the UPI app from the Play Store or App Store.
The Android version of Paytm Wallet can be downloaded directly in the Play Store or via Google Play by searching for “paytum wallet”. Alternatively, users who have an iTunes account can download the iOS version of Paytm Wallet by searching for ‘paytum wallet’.
Also Read: What is The National Vegetable of India?
This means that if you have a debit card issued by a bank in India and want to purchase something with it using Paytm — it will work just as well as any other UPI transaction that may happen with any Indian bank accounts (like ICICI Bank for example).
Alternatively, using our app will make it easier for users who don’t have access to either the play store or google play store to transfer money from their bank accounts into their personal Paytm wallets without having to worry about paper documents at the airport or offices when traveling abroad- because now they can just use their phone bill pay feature which they already have.