Paytm works in two different ways. One is Paytm wallet and another is Paytm payments bank. Paytm is a digital payment system which allows you to transfer money through credit card, debit card, online banking and banking partners. By keeping money in the Paytm wallet you can pay all bills without spending liquid cash anywhere. This helps you in number of ways, as you make payments digitally like mobile recharge, cab payments, electric bills, gas bills, ticket bookings, movies etc. For this you need to transfer money from your bank account to Paytm wallet. After that you can use this money process. Follow some steps to create Paytm account.
1. Download and install the Paytm account from Google play store.
2. Signup the Paytm account using your mobile number or email id.
3. Transfer some money to Paytm wallet through your banking account.
4. Once the payment reached to payment wallet, you can use "Pay or Send" option through your app.
5. Once payment over sign-out your account.
There is also another suggestion given by the Paytm. Users can transfer money through two options. One is Paytm wallet to another Paytm wallet money transfer and another is Bank to bank money transfer.
The second option of Paytm is given for Paytm payments bank. This will run as like other banks. The users who have already having Paytm wallet account can migrate with the bank account. Later they can enjoy all the benefits which they had in wallet will also been having in banking. This shows the increase in usability of Paytm in e-payments and e-transactions by the people.