In this article we will show you the solution of how to do Paytm KYC, the "Know Your Customer" (KYC) principle is a requirement set forth by the RBI for online payment systems. Customers' identities are verified by KYC in order to reduce the danger of fraud and phone identities, as well as to find defaulters.

Users must first obtain KYC in order to access the Paytm wallet. Users should be aware that they do not need to have their KYC validated in order to utilize the Paytm app to conduct UPI transactions.

Users of Paytm have access to a wide range of transactions, from paying utility bills to doing direct bank-to-bank transfers.

The Paytm app can be used to shop, make bookings for events or movies, purchase bus, train, and aeroplane tickets, pay bills, transfer money between bank accounts, recharge of mobile, internet, and broadband devices, and pay utility bills.

Financial institutions employ the KYC and know your customer, process to confirm the identification of their clients and determine whether they pose a danger of money laundering or supporting terrorism.

Banks and other financial institutions are required either by "The Reserve Bank of India"(RBI) to ask their clients for KYC.

Step By Step Guide On How To Do Paytm KYC :-

1. Click on your profile photo in the upper-left corner of the home screen to access it.
2. Go down to the 'Profile Settings' area, which contains all of your account information as well as your profile features/facilities (email, mobile no., etc.)
3. Your wallet's status will be listed as "Inactive" in your profile. To activate the wallet, click "Activate Now," then "Finish your minimal KYC to activate the wallet," respectively.
4. The Paytm Wallet would be enabled as soon as you have met the minimal KYC requirements, although with lower monthly limits with fewer advantages. By converting your account to full KYC, you can receive more benefits.
5. To make things simpler for users, Paytm uses a straightforward KYC process. It accepts a number of different documents, including identity documents such as an Aadhaar card, passport, voter ID, etc.

Conclusion :-

Paytm also has made it necessary for consumers to finish the KYC before using its wallet services in order to comply with all RBI standards.

Paytm has separated KYC into minimal and maximum categories.

Throughout this blog, you will go through the essential KYC requirements as well as fulfill them using Paytm.

Both types of KYC enable users to access various sorts of wallets.

I hope this article on how to do Paytm KYC helps you and the steps and method mentioned above are easy to follow and implement.