Now, you can recharge your Paytm mobile wallet through ATMs. The e-commerce company has tied up with the Bank of Maharashtra and is in process of tying up with other leading banks to help customers top-up their wallets using ATMs.
Customers of the Bank of Maharashtra can use their debit card to top up their Paytm wallet by walking into more than 1,800 ATMs across the country, said Nitin Misra, vice president-products at Paytm. "We are in the process of partnering with many other leading banks and will be making an announcement soon," he said.
Paytm, which has received payments bank licence, does 75 million transactions every month from 100 million users. The Noida-based company, backed by Chinese e-tailer Alibaba, expects to increase the number of transactions with this move and attract customers who are wary of using net banking.
"People who are not using online or net banking will have an option of using Paytm wallet by loading it at ATMs," said Sanjay Doshi, partner, financial services -- deal advisory and head of valuations. "Combined with Paytm tying up with kirana stores, this will increase online plus offline transactions for Paytm."
Paytm recently tied up with Miranda stores in Andhra Pradesh where people can walk into a store and load their mobile wallet. In a similar initiative, the company tied up with ICICI Bank to allow its users to top up the wallet at a bank branch.
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