Have you Completed Your Paytm KYC?
If not, Then do it Right Now.
Because…You may not be able to use the Paytm app to make purchases, transfer money or recharge mobile account and other transactions after March 31, 2018, unless you complete all Know Your Customer (KYC) formalities immediately.
The rule is being enforced by the Indian government as part of its drive to regulate all financial transactions in this country.
To ensure your Paytm account remains operable after March 31, 2018, we strongly recommend you complete your KYC formalities right now. Therefore, we provide you with a complete guide to complete your KYC formalities for Paytm.
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Paytm KYC For Aadhar Card Holders:
These are the steps you need to follow to complete your KYC formalities for Paytm.
- Login to your Paytm Account on your mobile phone.
- Here, you will see the ‘Link Aadhar’ button.
- Click on the ‘Link Aaadhar’ button.
- Accept ‘Terms & Conditions’ by ticking the appropriate box.
- Fill in your 12-digit Aadhar Card number.
- Enter your mobile phone number which is linked to your Aadhar card. This means you have to provide the same number you submitted at the time of enrollment for Aadhar card. If you have lost this number or are using another one, you cannot proceed further.
- Click ‘OK’.
- Now, you will receive a One Time Password (OTP) on your Aadhar registered mobile number.
- Fill in this OTP and click ‘OK’.
- Upon completing this step, details of your Aadhar card, including your image will appear on the screen.
- This time, you will be asked a question to confirm whether the details shown are the same as your Aadhar card.
- If they match your Aadhar card, click ‘Yes. It’s me’ link.
- At this juncture, you will be asked to fill in your Aadhar card details.
- Enter your name.
- Next, enter the name of your father or husband, as reflected on Aadhar card.
- After this, you need to enter your mother’s name.
- You will be asked for an address. Here, you can fill in your present address where you can be contacted easily, such as residence or office. However, this address is only for correspondence purposes.
- For added security, add your Permanent Account Number (PAN) if you hold a PAN Card.
- The next step is to agree to your Aadhar verification.
- Click ‘Proceed’.
- Once again, your Aadhar details will reflect on your mobile screen.
- Click ‘OK’. Once this process is completed, your KYC details will be completed within seven working days.
Paytm KYC For Non-Aadhar Card holders
You need not worry if you do not hold an Aadhar card. Paytm also offers KYC using various other documents issued by the government. These include:
- Valid Passport.
- Valid Driving License.
- PAN Card.
- National Rural Employment Guarantee Card.
To do KYC for your Paytm without Aadhar card, the steps remain the same as above.
- Click on the link ‘I Don’t have Aadhar Card’.
- Now you will be asked to select any of the four abovementioned documents for your KYC.
- Enter the number of your document. For example, passport number or valid driving license number, PAN or NREGA card number.
- Here, you will need to provide a mobile number to receive your OTP.
- Fill in your name, parents/ spouse name.
- Submit your address for correspondence.
- Click OK.
- For non-Aaadhar holders, the process may take more than a week to get your Paytm account KYC compliant.
Physical KYC for Paytm
You can also complete KYC formalities for your Paytm. There are two ways to do so.
- Press KYC Outlet on your Paytm.
- Provide details of your Aadhar card or other documents.
- A list of authorized retail outlets where you can physically visit and complete your KYC formalities will flask on your screen.
- Visit the outlet most convenient for you.
- Present your Aadhar card or other documents for physical verification.
- Aadhar card holders will have to submit biometric data- a fingerprint.
- Non Aadhar holders may have to submit photocopies of their documents.
- Physical KYC with Aadhar takes about a week while non-Aadhar holders will be KYC compliant within about 10-15 working days, depending upon your location.
Important Warning for Paytm Users
Please remember, Paytm frequently warns users that it never requests for your passwords or other details.
Therefore, ensure you do not leak your password or Aadhar and KYC details to anyone.
Paytm and banks also do not call users to seek details. If you receive any calls asking these details, do not disclose them.
Instead, report such fraudulent calls to your nearest police station, along with the mobile number from where you received them.
If you do not hold an Aadhar card or other documents compulsory for completing the KYC formalities, we suggest you withdraw all your funds in the Paytm wallet on or before March 31, 2018.
You may lose the money, once Paytm stops accepting transactions from non-KYC compliant users.
According to news reports, there is a possibility that the Indian government may extend the March 31, 2018, deadline for linking Aadhar card with bank accounts, payment apps and portals and mobile numbers, among others.
However, there are no confirmations from the Indian government that it will extend the March 31, 2018, deadline. Hence, complete your KYC formalities on or before March 31, 2018.
By far Paytm is the most respected and useful payments app used by Indians. Paytm played a major role in helping Indians to switch from physical monetary transactions to electronic mode immediately after November 8, 2016.
Small and large outlets accept Paytm payments. Further, Paytm also runs an online store where you can buy excellent quality stuff at discounted rates.
Paytm also allows you to link with the Bharat Interface for Money (BHIM) and Unified Payment Interface of India (UPI). Avail these services to get the best from Paytm, provided you are KYC compliant.