What Is Paytm?
Founded in 2000, Paytm (pay through mobile) is an Indian company offering financial services and mobile payments. Thanks to excellent security features, lightning-fast transaction processing, and multiple payment options, Paytm exploded on the Indian financial market and has since branched into other business ventures, including Paytm Payments Bank and Paytm Mall. Moreover, the parent company, One97 Communications Limited (OCL), got listed on the Indian stock exchanges in 2021 in the biggest listing at the time.
Millions of Indians use Paytm every month to send and receive payments. It has become a go-to service for utility fees and online shopping, as well as a comfortable financial tool for small and medium businesses. Unsurprisingly, the gambling industry caught on fast. So today, there are dozens of Indian online casinos accepting Paytm, making it easy to deposit funds and withdraw winnings.
Pros and Cons of Using Paytm in Online Casinos
Pros:
- Excellent security features to guard your money
- Fast and flexible payments
- Lots of reliable Paytm casinos
- No-fee transactions
Cons:
- The identification process may be drawn-out
- Paytm does not work reliably outside India
How to Deposit with Paytm
If you don’t already possess a Paytm account, you’ll need to create one in a couple of clicks on your desktop or via a mobile app. After that, it takes a few steps to get ready for Paytm betting:
- Log into your casino account and go to the deposit tab
- Choose Paytm among the payment methods
- Input the payment sum and your Paytm credentials
- Follow the cues to confirm the payment
- Check the account balance to ensure the transaction was successful
Money should appear on your balance immediately, but in some cases, the transaction can be delayed by up to an hour. If your money does not arrive within 60 minutes, contact the Paytm support team to resolve the issue.
How to Withdraw with Paytm
The best Paytm casino sites for Indian players offer fast and comfortable withdrawal. Moreover, Paytm does not have to be your default deposit method to get the winnings to your account. All you have to do is:
- Log into your casino account and go to the withdrawal tab.
- Choose Paytm as your payment method.
- Enter the withdrawal sum within the minimum and maximum limits.
- Input Paytm credentials and confirm the payment.
Depending on the casino’s terms and processes, withdrawals may take longer than deposits. While usually, you will receive your money within a few hours, it can take up to five bank days to get your hands on the winnings. And remember that withdrawals can be liable for taxes and fees.
Is Paytm Safe?
Industry-standard cyber security features make Paytm gambling as safe as it can be. The FinTech company relies on advanced encryption protocols for storing and transferring your personal and financial data so that no one can get unauthorized access to your account. While the mobile app relies on a standard password, you may also use two-factor authentication and one-time passwords to ensure maximum security of every transaction. As a result, using Paytm is much safer than sharing your credit card info online, even if you’ve chosen a trustworthy casino.
What Are Paytm Fees?
Paytm does not require a fee for transferring funds between individuals. So in most cases, you should be able to avoid extra payments when depositing money into your casino account. However, some Paytm casino fees may apply to withdrawals, especially if you’re dealing with large sums (over 500 Rs). To learn the fee, read the deposit and withdrawal terms carefully or ask the casino’s support agent. You should have a clear answer before transferring your money.
Alternatives to Paytm for Indian Gamblers
If none of the Paytm casinos India has to offer suits your needs, you may look into other payment systems. It never hurts to have alternative options up your sleeve to ensure you can deposit and withdraw funds whenever you want.
PhonePe
PhonePe is a widespread online payment system in India with over 100 million regular users. The e-wallet offers similar processing speed and flexibility to Paytm, with multiple deposit options, including wire transfers and credit cards. Available via an Android or an iOS mobile app, PhonePe comes with a digital wallet that can store funds, ensuring fast, hassle-free payments that do not require continuous access to the bank account.
Google Pay
Powered by one of the Internet giants, Google Pay (or GPay) isn’t as popular among online gambling sites, so there aren’t as many accepting GPay as there are Paytm casinos live in India. Still, GPay offers comfortable and secure instant mobile payments without any fees. Unfortunately, while it works wonders for deposits, Google Pay isn’t great with withdrawals, so you may need to choose another option for cashing your winnings.
Skrill
Skrill is yet another popular e-wallet application in India. Most deposits are processed instantly, though withdrawals can take a few hours to a few days. Processing fees also differ. While deposits are usually free, withdrawals may incur extra charges depending on the casino’s terms and conditions.
Conclusion
There is no shortage of gambling platforms working with Paytm in India. After all, it’s among the largest and most successful FinTech companies globally. Free, secure, flexible payments are a staple of Paytm, so the only trouble with picking the best Paytm casinos online lies in researching the casinos’ reputation. Instead of wasting your time on that, you can use our advice, set up an account, and start playing within minutes.
