Paytm: Rewarding you for paying your bills

What is Paytm?

Bills are a fact of life.  Whether it’s credit card bills, rent, taxes, tuition, utilities.  Life costs money, and we have to pay this bills. Paytm is a cellphone-based free bill payment platform.  Through Paytm, you can make all (or almost all) your bill payments from one place.  You can set up alerts, reminders, and notifications to help you avoid any late fees.

Paytm Home Screen

How much does it cost to use?

There are no sign-up fees and no transaction fees of any kind.  And there is no fine print! Paytm costs you absolutely nothing to use.

How does it work?

You need to add both your billers and your payment methods.  Paytm advertises as having more than 5000 billers, and you can use your bank account or credit cards to pay these bills. You can also use Paytm to send money to friends and family. This isn’t a unique function though, and essentially replicated what you can do with PayPal or Interac email money transfers.

There are two different types of account balances on Paytm that can create value for you. Paytm Cash is essentially a cash reward balance that you can use towards bill payments or towards gift card purchases. Paytm Points is a second rewards system. You accumulate 1 Paytm Point for every dollar of bills that you’ve paid through Paytm. You can then redeem the Paytm Points to boost your Paytm Cash back rebates on gift card purchases.

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