As India is gradually moving towards a cashless economy, it becomes even more pertinent for electronic systems to support the move. I feel PayTm is a boon for consumers like us who are continually intending to move towards digital payment systems. I base the review on the following parameters-
1. The Android application is a breeze! It rarely lags and is very responsive to the user which serves the purpose right.
2. The user interface is easy to grasp
3. In-built scanner in the app can scan any Quick Response code and make the payment.
4. Loads of offers and vouchers are available and a lot of them are free depending upon the pattern of usage of the consumer. I have been using the app for around 2 years now and I do all my payments like electricity and DTH bill payments from this app. And in every transaction, I get a voucher for bus fare, restaurants, shopping or cashbacks.
5. Users can open bank accounts with PayTm now.
1. In order to avail any of the offers or cashbacks, the user needs to complete the KYC procedure. People may be reluctant to share their personal details.
2. The app takes a considerable amount of space on the device and there are frequent updates on the app with bug fixes.
Overall, my experience with the app has been extremely satisfying and I will continue to use it for all the transactions in future.