Paytm Tap to Pay: Paytm has started the ‘Tap to Pay’ service for its customers. With the help of this service, digital transactions can be done even if there is no internet connection on the phone. The phone has to be tapped on the POS machine and the payment will be done. This service can be availed even when the phone is locked.
Paytm Tap to Pay service is currently available for Android and iOS. If you want to take advantage of this service, then turn on the NFC ie Near Field Communication option on your phone. After this, tap the phone on the POS machine and the payment will be completed with vibrating. This method of payment is completely secure. In this, your card information is kept safe.
Convert card details to digital primary account number
Any card information will be saved in Paytm’s active account list, from which any card can be selected and payment can be made. Paytm converts 16 digits of the card into Primary Account Number (PAN) with the help of its technology, after which transactions are completed with the help of PAN. Paytm does not share its user data and card-related information in this digital transaction.
A transaction can be done from any POS machine
With the help of this feature, payment can be completed at any retail outlet. However, NFC support of POS machines or card machines is required.
Card details are not shared in this
It is a more secure medium of digital payment. In this, the card details are not shared during the transaction and all the customer details are kept in the secured cloud server of the bank. Apart from this, this service is also much faster.
Transactions without PIN up to 5000
According to the new guidelines of the Reserve Bank of India, a customer can do a maximum transaction of Rs 5000 at a time with the help of tap service. If you want to do a transaction of more than Rs 5000, then you will have to use a PIN for this. Earlier this limit was Rs 2000.