Paytm wants to get more user engagements as there is a part of their user base that uses Paytm only for cashback benefits under certain offers and benefits. Now, with Paytm Cash, the scenario will change, which is a new way of getting cashback on the purchases made on Paytm. It is now rolling out to Paytm accounts to replace all the future cashback they user would receive.
It will be non-transferable so that the misuse decreases, which means that the cashback can’t be transferred to other Paytm users or withdrawn to your bank account. However, Paytm will make sure that users can pay using this Cash anywhere Paytm is accepted as a payment method.
The Paytm apps for Android and iOS devices are receiving a server-side update that brings a dedicated Paytm Cash tab, which is placed under the Passbook option. This section will also show the details of the cashback users receive for the purchases made both online and offline. When users pay using the Paytm Cash, the details will be shown under the Wallet tab.
With the arrival of Paytm Cash, the users will not be able to transfer the balance received in the form of cashback to anyone in their contacts or to any bank accounts. This will reduce the number of transactions made for the purpose of cashback only and will make the regular users stick to Paytm as their primary payment method. However, Paytm has not issued any statements or commented anything regarding this new move.
