New Student Offer Use Code - HELLO

Join Here

Automatic Recurring Payments Feature Introduced by PayTM

Published on May 14, 2018
Paytm has introduced a new feature ‘automatic recurring payments’ which enables the users to configure the payments app to pay for periodic recurring expenses automatically.
Automatic recurring payments feature introduced by PayTM
  • With this feature, bank transfers can be done from/to any bank account, making it easier to make payments at no charge.
  • This facility can be even availed by the non-KYC Paytm users.
  • Payments can be scheduled by the customers for a particular day of every month. 
  • These would be pre-decided amounts that can be paid to certain individuals or businesses (such as EMIs) on a certain date.
  • With this added feature PayTM aims to achieve a substantial increase in the transaction via regular recurring payments such as house rent, tuition fees, maid/driver’s salary, milk or newspaper, etc.
  • There is no upper or lower limit to the number of payments or amount that can be transferred.
  • At present, Paytm processes about 1 billion transactions every quarter and it aims to double the figure to 2 billion. 
  • The company also aims to process Rs 60,000 crore in monthly bank transfers by the end of 2018.

Expected Questions

Question 1. Who is the founder of PayTM?
Vijay Shekhar Sharma

Question 2. When was PayTM formed?

2010

Question 3. When was the PayTM Payment’s Bank launched in India?
2017
ebook store

About Me

Ramandeep Singh

Ramandeep Singh - Educator

I'm Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and over 5000 successful selections, I understand the path to success firsthand, having transitioned from Dena Bank and SBI. I'm passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu