Paytm Review

What is Paytm? 

Paytm is without a doubt one of the most popular banking tools in India, and for a good reason. It launched in 2010 as a mobile credit recharging company, but since then it has grown and developed into a fully functional mobile payment service provider and banking method.

Currently, people can utilize the app to have electronic wallets where they can deposit money straight from their debit or credit cards. It is used for peer-to-peer transactions, paying utility bills, ordering online, booking flight tickets, paying education fees, and even trading stocks.

The brand grew as a multi-functional payment tool, and that’s why so many people are using it every single day. It reduces unnecessary hassle so you don’t have to switch between multiple services. It’s very accessible and easy to get into, which adds to the overall appeal of the app.

Paytm is growing constantly by adding new features and tools for their customers to use and dipping their toes in the banking sector. They allow users to utilize their HDFC and SBI Select cards, which allows them to either have a credit card with promised cashback or with various rewards.

Getting insurance, taking out loans, and even developing your business is possible with the use of Paytm. With all that being said, we’re here to talk about how Paytm can be used in your online casino ventures, so let’s take a look at why you should consider using it.

How does Paytm work?

If you’re primarily looking to use Paytm for online gambling, then you won’t have to dabble in all the other things this payment service can provide you with. You will want to open the electronic wallet and that’s all you’ll ever need. With an e-wallet, you can do pretty much everything that you can with a credit or debit card, but with an extra layer of security added.

This is beneficial, especially if you’re spending time in multiple casinos. Those who use the same credit or debit cards in a multitude of different gambling platforms are significantly compromising their safety. By using an e-wallet, you’ll successfully remove unnecessary risk.

Everything functions in a very simple manner. Once you open up your Paytm electronic wallet, you can add or withdraw funds to your personal cards or bank accounts. It’s quick, easy to follow, and very effective. Once you have money in your wallet, you can use it to deposit funds into your online casino account.

You will need to find online casinos that accept Paytm as a valid banking method. While there aren’t thousands of gambling platforms that do accept it, there is still a considerable amount of those who do. Once you find the one that does, make sure that you always read the terms and conditions pages there to see if there are any restrictions regarding it.

Furthermore, Paytm can issue HDFC Bank Select credit cards which can also be used in certain online casinos. While this is an option, we generally do not recommend that you use credit cards for gambling.

How to Get Started with Paytm?

One of the most significant advantages that Paytm has over its competitors is that it’s incredibly simple and accessible to use. No complicated process requires you to spend hours opening your account. Everything can be done in just a couple of minutes, and you’ll be able to use it with absolute ease.

First things first, you will need to download the Paytm app on your smartphone. Of course, there is an app for both iOS and Android devices, so just visit the Google Play Store or Apple Store, type in “Paytm” and download the app for free. Next up, you’ll need to create an account.

A great thing about this payment service is that it doesn’t require you to submit KYC documents so you could use their electronic wallet. All you have to do is enter basic information and confirm everything with your phone number. There won’t be any requirement for you to submit your ID, passport, or any other personal document or bill.

Once you’ve created an account, it’s time to deposit your money. As we have mentioned, you can link your credit or debit cards to the e-wallet, but you can also connect it directly to your bank account. After that, you’ll have everything you need to deposit and withdraw money at online casinos. 

And that’s it. You can probably see why this company has been so successful over the years. They’ve managed to provide their customers with an incredibly easy process of setting up an e-wallet, which usually takes a lot longer on other platforms.

Paytm for Deposits and Withdrawals in Online Casinos

Both depositing and withdrawing funds are made available in online casinos that accept Paytm as a payment method. The process of depositing or withdrawing doesn’t differ in the slightest in comparison to credit card transactions, except that you’ll be connecting your e-wallet account here.

All you have to do is go to your account profile and choose withdrawal or deposit. After that, select the Paytm option and you’ll be transferred to a window where you can log in and finalize the payment or withdrawal. Yes, it’s that simple!

When it comes to deposits, you will not need to wait at all for transactions to complete. You’ll be able to have your funds deposited to your online casino account in seconds, so you can jump in on the fun very quickly. Be that as it may, we can not say the same for withdrawals.

While it all depends on the casino you are playing at, withdrawals using Paytm may take longer in comparison to deposits. Some withdrawal transactions may take up to a few days before being processed to your electronic wallet. This certainly isn’t ideal, but you’ll have a hard time finding an online casino with traditional payment services that won’t require you to wait. The maximum withdrawal and deposit limits are 1 Lakh per day.

How to Deposit with Paytm at an Online Casino?

• Before starting the deposit process, make sure there are enough funds in your Paytm wallet. You should always double-check and if there's a need, load your wallet using a debit card, bank account or other available methods. 
• Log in to your casino account;
• Navigate to the Cashier/Deposit tab;
• Select NetBanking and enter the deposit amount;
• Enter your Paytm Virtual Payment Address (VPA);
• Wait for the prompt to enter your UPI ID 
• Confirm the deposit transaction;
• Confirm a Paytm request and click Pay
• Play!

How to Withdraw with Paytm from an Online Casino?

• Navigate to the casino’s Cashier/Withdraw tab;
• Enter the amount to withdraw and select Paytm (this method usually requires a prior deposit in order to show up as a withdrawal option);
• Follow the steps to complete the transaction;
• Check your Paytm wallet for funds. 

Paytm Applicable Fees

Using Paytm for general transactions won’t have any applicable fees when you are depositing money. When you withdraw money, though, the company takes a 4% charge on the transaction. 

That’s what you can expect when transferring money from Paytm to your bank account and credit cards or vice versa, but you should keep in mind that online casinos may have additional charge fees they might impose on you.

We suggest you always read through the terms and conditions page for payment methods when you want to play in certain casinos that accept Paytm. There you can read up on whether the casino operator charges additional fees when depositing or withdrawing money with the method.

Paytm Advantages and Disadvantages

Advantages

• The payment method is incredibly simple and intuitive to use, even for people who are not tech-savvy
• Indian Rupee supported
• All deposits are instant and without fees
• Paytm has great security thanks to being regulated by RBI - Reserve Bank of India
• Cashback when using their credit card
• Plenty of other ways to use the app besides the e-wallet

Disadvantages

• There is a fee associated with every withdrawal
• Customer support can sometimes be lackluster
• Not all online casinos tend to accept Paytm